Focus Graphite Inc (TSX-Venture:FMS) had reason to celebrate Wednesday.
The Ottawa-based firm told the media its superfine, high-performance, conductive graphite used in the production of Lithium-Ion batteries is currently being tested by major battery companies.
It must have to do with the composition of the product; a news release out Wednesday pointed out that typically, a lithium-ion battery requires up to 15 times more graphite than lithium depending on which cathode is used. This is due to the high surface area and layered crystal structure of graphite making it highly suitable for use as an anode material. Additionally, some battery technologies require that the graphite in use be almost 100% pure.
Sources of pure, high-grade graphite are scarce and not readily available in consistent supply. Focus Graphite’s proprietary thermal process has the ability to provide a consistent supply of superfine, high-performance, conductive graphite for the purity needs of these battery technologies.
This is evident by the current testing of Focus Graphite’s products by battery companies who view potential suppliers like Focus Graphite as critical supply chain partners to meet their respective opportunities for growth.
FMS shares electrified investors to the point of driving their price up 1.5 cents, or 60%, to four cents, as markets wound down on Wednesday, on jaw-dropping volume surpassing 2.5 million shares.
