Battery material manufacturer EcoGraf has inked a $29.7 million deal to set up a 5000-tonne battery anode materials facility in WA.

If that goes ahead, a further $65 million will be spent to reach full capacity of 20,000 tonnes, the company says.

EcoGraf listed on the ASX in 2010 and revealed plans for the facility in 2019. Last year its share price jumped 940 percent, after the company said it would establish a new graphite refinement facility, claimed to be the first of its kind outside Asia.

The company has said that the 6.7ha Kwinana processing site south of Perth is planning to use EcoGraf’s trade-marked purification technology to deliver high quality and sustainably-produced battery anode products.