The company has taken an important step by converting discarded sawdust into synthetic graphite.
This development is expected to reduce the world's dependence on China for graphite used in batteries.
The company CarbonScape argued that the alternative graphite obtained from sawdust offers a more sustainable solution and will reduce Europe's dependence on China for lithium-ion batteries.
WHAT IS GRAPHITE?
Graphite, which is key to producing electric vehicle batteries, is a naturally occurring and mined material. Synthetic graphite is produced from petroleum products.
According to CEO Ivan Williams, CarbonScape's graphite developed from sawdust offers a more environmentally friendly solution.
"Traditionally, fossil fuel-based raw materials are used to produce synthetic graphite. For every ton of graphite produced, 35 tons of carbon dioxide is emitted."
18 MILLION DOLLAR INVESTMENT
Last year, CarbonScape received a total investment of $18 million from Stora Enso, a joint Finnish-Swedish forestry company, and Amperex, a Hong Kong-based battery manufacturer.
The news of CarbonScape's synthetic graphite production from sawdust comes at a time of increased demand for graphite in the electric vehicle market.
By 2030, the global supply gap in graphite is expected to reach 777 thousand tons.
