International Graphite (ASX:IG6) signed a memorandum of understanding with the prominent Italian chemical group ALKEEMIA to develop a premier graphite processing facility.
Located at ALKEEMIA's established chemical complex in Porto Marghera, Venice, the project aims to position Italy as a central hub for advanced graphite production on the continent.
The partnership is structured as a joint venture, with ALKEEMIA holding a 51% stake and IG6 holding 49%, while maintaining an equal 50/50 profit-sharing arrangement.
Under the agreement, ALKEEMIA will leverage its existing infrastructure, providing a fully permitted site, a skilled local workforce, and proprietary purification technology.
In exchange, IG6 is slated to fund the plant and equipment while contributing essential downstream intellectual property for graphite processing.
Operational timelines are ambitious, with binding agreements expected by the end of May 2026 and a final investment decision targeted for June.
If successful, the facility anticipates an initial production target of approximately 10,000 tonnes per year starting in late 2027, with potential for future expansion.
ALKEEMIA will oversee the construction and day-to-day management of the site.
At the time of reporting, International Graphite's share price was $0.061.