What's Happening?
Blencowe Resources, a London-listed company, has signed a nonbinding memorandum of understanding (MoU) with Yunasko, an energy storage company, for the offtake of natural medium-flake graphite from its
Orom-Cross project in Uganda. The agreement covers an initial supply of 500 tons per year, with pricing to be determined under a binding contract within 24 months. The graphite will be upgraded in Chicago by Blencowe's US technology partner, American Energy Technology Co, to produce premium-grade material for Yunasko's energy storage systems. This MoU follows Blencowe's definitive feasibility study and product qualification work with Yunasko.
Why It's Important?
The MoU with Yunasko represents a strategic step for Blencowe Resources in securing a market for its graphite production. By partnering with an energy storage company, Blencowe is positioning itself to benefit from the growing demand for high-quality graphite in advanced energy storage applications. The agreement also highlights the potential for Blencowe to expand its customer base and increase its market presence in the energy storage sector. The collaboration with American Energy Technology Co further enhances the value of Blencowe's graphite by upgrading it to premium-grade material.
What's Next?
Blencowe Resources plans to finalize a binding contract with Yunasko within 24 months, which will solidify the terms of the graphite supply. The company is also engaging with other potential offtakers globally to diversify its sales agreements ahead of first production. As the demand for energy storage solutions continues to grow, Blencowe is well-positioned to capitalize on this trend by securing additional offtake agreements and expanding its market reach.
