Talga has signed a collab to test its graphene for use in German car parts
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Aspiring miner/advanced materials tech company Talga Resources has signed another key deal – this time to assess the use of its graphene (called Talphene) in German car parts.
After signing a truckload of non-binding agreements in 2018, Talga (ASX:TLG) has now inking a new letter of intent (LOI) with German based Schunk Carbon Technology.
SCT are a subsidiary of the German based Schunk Group, which made revenues of about $1.9 billion in 2017.
Under the LOI, Talga and Schunk will look at using Talga graphene in “a Schunk product that has applications in the automotive sector”.
Further details of the LOI and application are “commercial in confidence at this stage”, the company told investors.
Talga’s share price, which was hammered along with almost everyone else’s in the second half of 2018, was up about 2.5 per cent to 38.5c in morning trade.
Talga is still in the development stage and not making any money, but has signed a bunch of agreements with established European companies which could become future revenue streams.
Managing director Mark Thompson told Stockhead that a lot of these companies are making game-changing products, “not only for Talga in a production sense, but for the world’s consumers”.
“Some of the things being worked on would literally change peoples lives for the better,” he said.
“It is frustrating that you can’t lay it all out there for the market, but that is the way the industrial product [development] works.”
“These companies” also include German tech and manufacturing giant Bosch, UK-based polymer manufacturer Biomer Technology, Swedish based multinational packaging company BillerudKorsnäs, and German based commodities and product distributor Possehl Erzkontor.
Talga is also racing to complete a pre-feasibility study (PFS) on its Swedish Vittangi graphite project in the second quarter this year.
Mr Thompson said the big push for Talga in the first half of this year is around making battery products.
“We are having a huge response to our battery developments , and we are incorporating those into our plans which will be revealed in a PFS, probably in the second quarter.
“The PFS will also reveal how we want to develop the project in stages, both for graphene products and battery products.”