Renascor Hits 99.97% Purity at Plant Scale, Boosting Offtake and Funding Talks
Key Takeaways
- Renascor produced battery-grade purified spherical graphite at 99.97% carbon at its Adelaide demonstration plant, validating its HF-free process beyond laboratory scale.
- The result used third-party graphite as a benchmark, so the Siviour graphite trials planned this quarter are the real test of the mine-to-PSG strategy.
- A 9 July 2026 cost study estimated operating costs of about US$459 per tonne, which Renascor says supports a competitive ex-China source of PSG.
- A conditionally approved $185 million Critical Minerals Facility loan and about $94 million in cash at 30 June 2026 underpin the funding path, though no offtake agreement is signed.
- Next catalysts are Siviour batch results, customer samples and multi-tonne campaigns, with feedstock secured only through the March 2027 quarter.
Battery-grade purified spherical graphite produced at 99.97% carbon purity
Renascor Resources (ASX: RNU) has produced battery-grade purified spherical graphite (PSG) at its demonstration plant in Adelaide, South Australia, reaching 99.97% carbon. The result gives the company a plant-scale data point for its hydrofluoric acid (HF)-free purification process.
The announcement, dated 7 October 2026, describes the result as key validation of the scale-up of that process. For investors, that matters because it moves the technology from laboratory claims towards demonstrated plant performance, a step the company links to its offtake and financing discussions.
Key facts from the announcement:
- Purity of 99.97% carbon achieved
- Third-party graphite used to establish benchmarks for plant performance
- Each trial run over approximately five days
- Further trials, including trials using Siviour graphite, planned for this quarter
David Christensen, Managing Director
“We have moved beyond laboratory-scale validation and have now confirmed that our HF-free purification process works at demonstration scale…”
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How the demonstration plant trials worked
The plant is a large-scale integrated processing facility designed to continuously process graphite and produce tonne-scale quantities of battery-grade material. Understanding how the trials were set up helps you judge how far this result goes.
Benchmarking with third-party graphite
The initial batch trials used third-party spherical graphite that had previously been tested at laboratory scale and benchmarked against Siviour graphite. Using this material provides a benchmark for plant performance while preserving Siviour material for subsequent trials.
Each trial processed graphite through the entire purification circuit over approximately five days. Samples were collected at each stage for laboratory analysis, and results indicate the individual stages are performing in line with design expectations.
Siviour graphite achieved higher purity levels than the third-party material in laboratory test work. Renascor says that increases confidence in achieving battery-grade purity with Siviour graphite, though the Siviour trials are still to come.
Why HF-free purification matters
PSG is the key input for lithium-ion battery anodes. Renascor says conventional purification methods are the benchmark its process is aiming to compete with.
The company believes its HF-free process has the potential to provide a commercially competitive alternative through lower reagent consumption, reagent recycling and reduced environmental handling requirements. Cost and environmental credentials matter if a competitive ex-China supply chain is to be built.
On cost, Renascor’s recently announced purification cost study (9 July 2026) estimated operating costs of approximately US$459 per tonne (2026 dollars). The company says this supports the potential for a competitive ex-China source of battery-grade PSG.
The plant was constructed with support from a $5 million grant under the Australian Government’s International Partnerships in Critical Minerals Program.
Next steps, offtake discussions and funding pathway
Upcoming trials
Renascor plans to continue batch trials during the current quarter using both third-party and Siviour graphite. These are intended to build confidence in process performance and consistency, support optimisation of operating parameters and produce samples for prospective offtake partners.
Multi-tonne trials are then planned, comprising extended continuous operating runs that include recycling of reagents and water. The company has secured sufficient graphite feedstock, including Siviour material, to support processing through the March 2027 quarter, although delays could affect the timing of activities beyond March 2027.
| Stage | Feedstock | Purpose | Timing |
|---|---|---|---|
| Batch trials | Third-party and Siviour graphite | Optimise operating parameters and produce customer samples | Planned for the current quarter |
| Multi-tonne trials | Not specified | Extended continuous runs, including reagent and water recycling, to support commercial plant design and customer qualification | Planned after the batch trial program |
| Feedstock supply | Includes Siviour material | Sufficient to support demonstration plant processing | Secured through the **March 2027** quarter |
Offtake and financing
Since the plant opened, international battery industry participants have visited both the Siviour project site and the demonstration plant as part of due diligence activities. Discussions with prospective offtake and strategic partners are ongoing, and the announcement does not report any signed agreement.
On funding, Renascor has a conditionally approved $185 million loan facility from the Australian Government’s Critical Minerals Facility. It is also continuing discussions with Australian and international government agencies on potential funding support.
The company’s cash balance was approximately $94 million as at 30 June 2026. Renascor expects further progress on customer qualification, offtake and strategic partnership arrangements to support the broader financing process.
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Why the milestone matters for the Siviour mine-to-PSG strategy
The demonstration plant is a key component of Renascor’s strategy to establish an integrated Australian mine-to-PSG operation based on graphite from its wholly owned Siviour Graphite Deposit in South Australia. The company describes Siviour as the world’s second largest reported Proven Reserve of Graphite and the largest Graphite Reserve outside of Africa.
The 99.97% result tests one link in that chain. The next catalysts to watch are:
- Siviour batch trial results
- Customer samples for evaluation
- Multi-tonne operating campaigns
- Progress on offtake and financing
Each is a step the company has said it intends to pursue, and none is yet complete.
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