EcoGraf Limited (EcoGraf or the Company) announced the results of the electrochemical performance of its EcoGrafTM HFfree purification of a lithium-ion anode cell production scrap sample from SungEel Hitech Co. Ltd. (SungEel) The electrochemical result is a positive achievement, and the testing supports that the electrochemical performance of the EcoGraf HFfreeTM recovered graphite at 99.98% carbon matches that of the brand- new commercial natural anode graphite which is similar to the recently announced results achieved by the German Research Institute. The anode recycled material performance was evaluated in a 2032-coin cell with the reversible capacity reporting 361.1 mAh/g achieved at the 3rd cycle.

SungEel is one of the largest lithium-ion battery recycling groups in Asia and listed on the KOSDAQ exchange in July 2022. SungEel have recently announced partnership with SK Innovation and expansion of plants in the US and Europe. EcoGraf is supporting SungEel to include a tailored EcoGraf HFfree anode recycling process in their proposed new South Korean and European recycling plants to support SungEel ecofriendly process and provide a total recycling solution for lithium-ion batteries.

A recent independent ISO Life Cycle Assessment (LCA) that assesses projected environmental impacts has demonstrated EcoGraf HFfree anode recycling of lithium-ion battery anodes provides a significant environmental benefit. A key requirement for global battery and electric vehicle manufacturers, with an almost zero or "CO2 free" footprint when compared to synthetic graphite which is currently the major anode component.