All over the world, there’s a broader push for more electric vehicles. In California, Gov. Newsom signed an executive order that will ban the sale of gas-powered passenger cars in the state starting in 2035. That means only EVs will be available for purchase in the next 15 years.
In Europe, “Automakers need to sell more electric vehicles after EU lawmakers in December 2018 ordered them to cut CO2 emissions by 40 percent between 2007 and 2021, and then by a further of 38 percent by 2030, or face fines.”
However, for that to happen, the world must secure more graphite, which makes up most of the anode in lithium-ion batteries. However, there’s a supply issue. One so severe, the USGS includes graphite on its list of 35 minerals and metals considered critical to the United States.
Without enough supply of graphite, the electric vehicle industry could grind to a halt, harming Tesla (NASDAQ:TSLA), Nio Inc. (NYSE:NIO), Workhorse Group (NASDAQ:WKHS), and General Motors (NYSE:GM) along the way.
That’s where a company like Ceylon Graphite (TSXV:CYL)(OTC:CYLYF) comes into play.
Ceylon Graphite announced it has developed and published best in class Environmental, Sustainability and Governance Standards with intent to be a global leader in ESG for all innovative graphite companies globally and a leading producer of Clean Graphite.
The many natural advantages Ceylon Graphite enjoys, combined with a clear commitment to establish new standards in the industry aim to make the company a market leader in protecting the planet, and an attractive target for socially responsible investment (SRI).
Among the highlights are:
- No open pit mining
Open pit mining, regardless of how it is managed is damaging to the planet. Ceylon Graphite has committed to no open pit mining, and by virtue of its high-quality, low-cost vein graphite resources, there is no need.
- No primary upgrading required
CYL’s graphite is naturally >90% purity (Cg), hence there is no requirement for an additional expensive, industrial process for primary upgrading common in markets such as North America with much lower grade natural graphite.
- True, certified renewable energy to be used in all operations
Sri Lanka offers many natural advantages such as efficient solar, wind or mini hydro (run of river hydro). Ceylon Graphite will support these technologies through both investment in renewable energy credits and direct use of these technologies as they are available to us.
- No environmentally harmful materials used in any future upgrading
Many forms of final upgrading to get graphite to battery-grade material require chemical processing which leaves toxic waste. Ceylon Graphite will only use environmentally friendly processes to achieve its 99.95%+ purity necessary for some markets. No acid leaching.
“The leadership team at Ceylon Graphite has made a clear commitment to set the highest standards for ESG in our operations at all levels and to be accountable to our investors to meet those standards,” said Bharat Parashar, Chief Executive Officer and Board Chair. “Our team has a history in environmental and sustainability leadership and our Board has been clear in its commitment.”
CYL founder and strategic advisor Sasha Jacob is the current Board Chair of Nature United (Canadian arm of The Nature Conservancy, the world’s largest conservation organization). He was previously also on the Board of Plan International Canada (one of the world’s largest development and humanitarian organizations), as well as Vice Chair of the Board of World Wildlife Fund (WWF). Sasha has participated in financings of over $7Bn for renewable energy and Ceylon Graphite Board members have history in development and promotion of low-carbon technologies and environmentally sustainable processing.
“We believe that the supporters and developers of clean energy technologies along with their customers will expect thorough mine to manufacturer traceability and will demand the most environmentally friendly products,” added Parashar. “This includes both the direct environmental impact of mining and processing methods as well as the total carbon footprint from mine to battery manufacturer. We aim to provide customers as well as investors with the comfort of working with a global leader in this regard.”
Ceylon Graphite has begun to explore several forms of accreditation that will ensure that our graphite is recognized for its unique environmental advantages and for the company’s commitment to help Sri Lanka work toward the United Nations’ 17 Sustainable Development Goals (SDGs).
Our team’s history of socially responsible investment is extensive as is our history of support for the communities in which we operate. In addition to training and employment, we will invest in social support within the communities. Ceylon Graphite is committed to continually invest, measure impact and improve.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Ceylon Graphite by a third party. We own ZERO shares of Ceylon Graphite. Please click here for full disclaimer.
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