Syrah Resources Limited · ASX:SYR
Syrah Resources — Investor Presentation (November 2017)
28 slides from Syrah Resources's investor presentation, Nov 24, 2017
Slide 1: Battery Anode Material
For personal use only Battery Anode Material 24 November 2017 Shaun Verner – SYR Managing Director & CEO Dr Christina Lampe-Onnerud – CEO Cadenza Innovation and SYR Non-Executive Director
Slide 2: Disclaimer
Disclaimer For personal use only This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation may
Slide 3: Purpose and Contents
Purpose and Contents For personal use only Purpose Provide further detail about our Battery Anode Material strategy (BAM) strategy and progress Outline the Syrah Resources and Cadenza Innovation testing, benchmarking and product development scope Explain what is important in BAM properties and perfo
Slide 4: Syrah Resources Progress & Strategy
For personal use only Syrah Resources Progress & Strategy 33
Slide 5: Balama has produced first saleable graphite
Balama has produced first saleable graphite For personal use only - Production of first bagged saleable flake graphite at Balama - Flake graphite grade in excess of 95% fixed carbon - Construction essentially complete - Process plant optimisation underway 44
Slide 6: Syrah Resources overview
Syrah Resources overview For personal use only Focus of today Corporate & Development Natural Graphite Battery Anode Material Optionality • Australian Stock Exchange: SYR • The world’s largest and one of the • Aim to be the first integrated BAM • Balama expansion the lowest lowest cost flake graphit
Slide 7: Production of BAM is a key foundation of our strategy and value proposition
Production of BAM is a key foundation of our strategy and value proposition to shareholders For personal use only Strategic Goals Logic Enablers Timing Be the pre-eminent supplier of • Industrial for baseload demand • Low cost • First saleable product this month 1 flake graphite • Lithium-ion batter
Slide 8: BAM production in USA provides global battery supply chain a strategic alternate source
BAM production in USA provides global battery supply chain a strategic and valuable alternate source of anode material For personal use only Syrah Resources’ value proposition Natural Flake Graphite Battery Anode Anode Battery Factory Electric Vehicle Material Kt, supply composition Kt, capacity com
Slide 9: Blending natural and synthetic graphite in anodes enables a balance of performance and cost
Blending natural and synthetic graphite in anodes enables a balance of performance and cost For personal use only Natural graphite penetration expected to increase Anode composition by major anode producer Natural Synthetic 100% Silicon 55% 30% 12% 80% Synthetic 25% 100% 50% 60% 100% 25% Natural gra
Slide 10: BAM strategy driven by value-in-use assessment, product development, and commercial relationships
BAM strategy driven by detailed value-in-use assessment, product development, and commercial relationships For personal use only There are four key elements to our strategy… Research Louisiana Products Commercial • Service agreement with • Build BAM capacity to provide • Uncoated spherical graphite
Slide 11: Syrah has engaged Cadenza Innovation to benchmark material and fast-track BAM
Syrah has engaged Cadenza Innovation to benchmark material and fast-track cost-effective and competitive BAM For personal use only Cadenza Innovation is providing battery anode testing and product development services to Syrah Resources. A joint team is established and operating in the USA, focused
Slide 12: Battery Anode Material (BAM) – Cadenza Innovation
For personal use only Battery Anode Material (BAM) – Cadenza Innovation 11 11
Slide 13: Multiple market segments are being disrupted by improving lithium-ion batteries
Multiple market segments are being disrupted by the improving performance and lowering cost of lithium-ion batteries For personal use only Portable Power • Lithium-ion cell demand growing to $16Bn by 2018 • Requirements: dependable run time, fast charge, safe Mobility Revolution • Technology Transpo
Slide 14: The PV boom was underestimated by nearly all
The PV boom was underestimated by nearly all and helped create new players and new partnerships to facilitate market growth For personal use only Cumulative global installed solar PV capacity Source: International Energy Agency, World Economic Forum, Greenpeace 13
Slide 15: Global policy, sales momentum and industry investment build for electric vehicles
Global policy, sales momentum and industry investment continue to build for the electric vehicle market For personal use only Government regulations EV fleet surpassed 2 million in 2016, Traditional OEMs responding to driving change ~1 million more to be added in 2017 EV development and competition
Slide 16: Battery factory capacity expansion is a global trend; China leading
Battery factory capacity expansion is a global trend; China leading the development For personal use only Global Battery Factory Expansions Source: Bloomberg 15
Slide 17: Graphite will maintain dominance and natural graphite will increase market share
Graphite will maintain dominance for the foreseeable future and natural graphite will increase market share as cost pressure increases For personal use only Artificial Graphite Natural Graphite Silicon Alloy Anodes Anode material Anode material Emerging but mixed with xEV, grid xEV, portable electro
Slide 18: Many variables are being tested to understand performance of Balama graphite in the anode
Many variables are being tested to allow Syrah Resources to better understand the performance of Balama graphite in the anode For personal use only Physical & Chemical Composition Structural Performance • Size Distributions • Elemental • Crystallinity • Specific capacity • Morphology • Moisture • Gr
Slide 19: Benchmarking Data Based on Cadenza Innovation Laboratory Testing
For personal use only Benchmarking Data Based on Cadenza Innovation Laboratory Testing 18
Slide 20: At x6000 magnification, purified and coated Syrah BAM show similar morphology
At x6000 magnification, purified, and purified & coated Syrah BAM material show similar surface morphology For personal use only Purified, not coated Syrah BAM Purified, pitch-coated Syrah BAM 5µm 5µm 5µm 5µm 19
Slide 21: Coated Syrah BAM shows similar morphology to tier 1 anode maker material
Purified & coated Syrah BAM material shows similar surface morphology to anode material from a global tier 1 anode maker For personal use only Material from tier 1 global anode maker Purified, pitch-coated Syrah BAM material 5µm 5µm 5µm 5µm 20
Slide 22: Syrah's BAM highlighted a competitive capacity and efficiency, with stable initial cycling
Syrah’s BAM highlighted a competitive capacity and efficiency, with stable initial cycling For personal use only Capacity and efficiency 1st cycle charge/discharge curve Capacity Efficiency 100 360 98 96 310 Capacity (mAh/g) 94 Efficiency (%) 260 92 210 90 160 88 5µm 86 110 84 60 82 10 80 1 2 3 4 5
Slide 23: XRD results indicate a high degree of crystallinity
XRD results indicate a high degree of crystallinity For personal use only X-ray diffraction (XRD) spectrum of Syrah Standard pitch-carbon coated sample Parameters Average Deviation 3.3579 0.0003 d002 (Å) Degree of 95.48 0.32 Graphitisation (%) 40.969 0.871 Lc (002) (nm) 5µm 22
Slide 24: Syrah's BAM highlighted a competitive capacity and efficiency, with stable initial cycling
Syrah’s BAM highlighted a competitive capacity and efficiency, with stable initial cycling For personal use only Capacity and efficiency Early trial of purified, pitch-carbon-coated BAM • 360 mAh/g (C/20 rate) • Conclusion: as expected from a low-temperature process Early trials of chemically purifi
Slide 25: The Balama mine produces a superior precursor material for BAM product options
The Balama mine produces a superior precursor material, which Syrah/Cadenza are now refining into multiple BAM product options For personal use only Syrah Early Trials Product References Leading commercial samples 24
Slide 26: As the Li-ion battery market expands, carbon anode material focus increases
As the global Li-ion battery market is expanding, carbon anode material focus increases - Syrah / Cadenza to update in March 2018 For personal use only 25
Slide 27: Battery Anode Material (BAM) – Next Steps
For personal use only Battery Anode Material (BAM) – Next Steps 26
Slide 28: Testing and benchmarking continues; product development roadmap aligned with Louisiana facility
Testing and benchmarking continues; product development roadmap aligned with Louisiana facility; commercial discussions For personal use only • Louisiana BAM plant development progressing to plan – site, permitting, long lead items, services all on track • Installation from Q1 2018, targeting earlie
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