VANCOUVER, British Columbia, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon Graphite”, or “CYL” or the “Company”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to announce that it has signed a Memorandum of Understanding with the intent to enter into an exclusive global licence (the “Definitive License”) with Cambridge Advanced Materials Innovation (“CAMI”) Consultancy Ltd, an arm’s length party incorporated and registered in England. The Definitive License will relate to certain technology, know-how and related intellectual property of CAMI (the “CAMI Technology”). The CAMI Technology includes an unpublished Great Britain patent application (application number 2101925) and other intellectual property, data, know-how, regulatory filings and other information. CAMI and Ceylon Graphite anticipate entering into the Definitive License within the next 21 days.
The CAMI Technology relates to a method of producing high quality few-layer graphene (“FLG”) and derivatives by exfoliation of processed high grade vein graphite produced by Ceylon Graphite. The highly effective exfoliation process is low energy consuming but results in increased yield (>60%) of few-layer graphene products which have been validated for batteries and energy cells in addition to industrial end-user applications.
Dr. Mallika Bohm, CEO of CAMI Consultancy Ltd states, “Key to obtaining best quality graphene is to achieve high exfoliation rate with low energy input. The unique CAMI Technology - has achieved this by using high quality processed Vein graphite with appropriate applied shearing force. Unlike chemical, electrochemical or high-pressure or radiation exfoliation processes, in this process no harmful chemical or changes to bonding structure in graphene is involved. Graphene has many applications in industrial products, most importantly for batteries and energy storage, and coating applications.”
Ceylon Graphite’s Chief Scientific Executive stated, “This industrially scalable process is already designed for large volume production; additional modules can be added as demand increases. Ceylon Graphite’s unique feed stock of the highest carbon content (upgraded to 99.99% Cg), high crystalline graphite material, leads to low energy consumption during the exfoliation process with no waste products to be handled. Few-layer graphene produced using this technology is most suitable as conductive additive materials for energy storage applications and it will be a key material for the development of global decarbonation technology.”
Ceylon Graphite is one of the few producing natural graphite companies in the world, and one of a very few with access to vein graphite with average purity >90% Cg out of the ground, a purity level which eliminates the need for expensive primary upgrading commonly required for flake graphite found in most parts of the world.
“This is a huge development for Ceylon Graphite”, says Bharat Parashar, Chairman and Chief Executive Officer. “As many of you have heard me say our ultimate goal is to graduate from being a producer of high grade, environmentally friendly, natural graphite to a vertically integrated advanced material and technology company. This licence represents a significant step towards reaching that goal.”
The global graphene market is anticipated to reach USD 2.8 Billion by 2027 while exhibiting a CAGR of 39% between 2020 and 2027(1). Rise in awareness regarding superior characteristics of graphene and excellent product characteristics, such as high electrical and thermal conductivity, coupled with high electron mobility and high permeability is anticipated to expand the application scope of graphene. Rising product penetration in various applications including energy storage, semiconductors, and sensors is anticipated to further expand the market, also driven by the increasing demand for sustainability solutions across the globe.
(1) This information is published by Fortune Business Insights, in its latest report, titled, “Graphene Market Size, Share & COVID-19 Impact Analysis, By Product (Graphene Oxide (GO), Graphene Nanoplatelets (GNP), Others), By End-Use (Electronics, Aerospace & Defense, Automotive, Energy, Others), and Geography Forecast, 2020-2027.”
Upcoming Virtual Conferences
Ceylon Graphite will be presenting at the following virtual investor conference in the next month and welcomes anyone interested to reach out for meeting requests and/or presentation details.
O&M Town Hall Virtual Retail Event Webinar
February 25th, 2021
Mines and Money Online Global Conference
March 23-25, 2021
Donald K.D. Baxter, P. Eng is a Qualified Person under National Instrument 43-101 and has reviewed and approved the geological information provided in this news release.
About Ceylon Graphite Corp.
Ceylon Graphite is a public company listed on the TSX Venture Exchange, that is in the business of mining for graphite, and developing and commercializing innovative graphene and graphite applications and products. Graphite mined in Sri Lanka is known to be some of the purest in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets as well as construction, healthcare and paints and coatings sectors. The Government of Sri Lanka has granted the Company’s wholly owned subsidiary Sarcon Development (Pvt) Ltd. an IML Category A license for its K1 site and exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka.
Further information regarding the Company is available at www.ceylongraphite.com
Bharat Parashar, Chairman and & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about Ceylon Graphite’s grids, Ceylon Graphite’s plans to undertake additional drilling and to develop a mine plan, and to commence establishing mining operations. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Ceylon Graphite, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various Local Government Licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, an inability to reach a final acquisition agreement, inaccurate results from the drilling exercises, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Ceylon Graphite, a failure to comply with environmental regulations and a weakening of market and industry reliance on high quality graphite. Ceylon Graphite cautions the reader that the above list of risk factors is not exhaustive.
These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Ceylon Graphite does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).