RapidGraphite acquisition turns unconditional as InVert locks in RapidPulse technology and $2.5M raise
InVert Graphite (ASX:IVG) has confirmed that its binding agreements to acquire all of the issued share capital of RapidGraphite Pty Ltd are now unconditional, with all Conditions Precedent either completed or waived. Administrative completion of the acquisition is expected to occur on 20 August 2026.
In connection with the transaction, the associated A$2.5 million placement (before costs) to Institutions and Sophisticated Investors has now been completed, including A$700,000 subscribed by existing directors of InVert.
The move secures exclusive rights to the RapidPulse™ technology and funds scaled-up graphite trials, advancing InVert’s vertically integrated “pit-to-market” graphite strategy.
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What InVert has secured through the RapidGraphite deal
RapidGraphite holds an exclusive, royalty free, worldwide licence for the RapidPulse™ technology, alongside an option to acquire for nil consideration the technology following completion of the acquisition. The licence originates from Curtin University in Western Australia.
Key terms of the deal include:
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Licence type: an exclusive, royalty free, worldwide licence for the RapidPulse™ technology, plus an option to acquire it for nil consideration following completion.
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Licence duration: a 15-year licence (commenced December 2025) from Curtin University, with the right to have the technology assigned to the company.
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Completion: administrative completion expected on 20 August 2026.
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Team addition: Dr Jason Fogg, co-developer of the technology, will join InVert full-time to lead commercialisation following completion.
The technology was developed within Curtin University’s Carbon Group by a team led by Dr Jason Fogg, Dr Jacob Martin and Dr Nigel Marks. RapidGraphite was co-founded by Out The Back Ventures (OTB), a deep tech venture creator specialising in commercialising early-stage research from universities and national laboratories. OTB will continue to support RapidGraphite’s development and commercialisation.
Dr Jacob Martin and Dr Nigel Marks will continue to contribute to the scientific development and scale-up program through their roles at Curtin University.
Understanding RapidPulse™: battery-grade graphite in seconds
RapidPulse™ is a novel catalytic graphitisation process. It uses a proprietary catalyst blend to drive rapid, high-temperature conversion of feedstocks to battery-grade graphite.
In laboratory testing, the process has achieved graphitisation temperatures approaching 3,000°C within seconds, compared with a process that takes up to 30 days in conventional Acheson furnace manufacturing.
For investors, the potential significance lies in producing battery-grade graphite without harsh acids, avoiding the acid purification and chemical washing required by conventional methods, which is faster and potentially more sustainable. The technology is backed by peer-reviewed scientific publications and has been subject to independent external technical validation.
| Metric | RapidPulse™ | Conventional Acheson Furnace |
|---|---|---|
| Processing time | Within seconds | Up to 30 days |
| Acid purification | Not required | Required |
| Peak temperature | Approaching 3,000°C | — |
Promising results from Morogoro feedstock
As part of the assessment of the technology, metallurgical samples from Morogoro were run through the RapidPulse process, per InVert’s 18 June 2026 announcement. The results supported the potential of pairing the company’s own feedstock with the processing technology.
Reported metallurgical figures included:
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Fine grained material of <106µm with a purity of 97.5% Total Graphitic Carbon was processed to 99% purity graphite (the resolution limit of the analytical method used).
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The processed sample’s degree of graphitisation increased from 90.7% to 98.8% post heat treatment, which the company noted would translate into improved battery performance.
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The fine grained material was incorporated into a composite carbon material, demonstrating a potential ability to utilise fine waste material from a spheronisation process of standard flake processing into a battery-suitable product.
These outcomes link InVert’s own Morogoro resource to its processing technology, supporting the vertical integration thesis.
Director quote — a clear pathway to vertical integration
Andrew Lawson, Managing Director
“The unconditional acquisition of RapidGraphite is a key milestone for InVert to secure exclusive rights to the RapidPulse™ technology, which has shown early potential to produce battery-grade graphite without the use of harsh acids. With the $2.5 million Placement completed, we are now well-funded to advance the scaled-up trials of this process. Pairing this technology with our recently announced Morogoro Maiden MRE2 in Tanzania gives us a clear pathway to develop a vertically integrated and more sustainable supply chain. We thank our investors for their support.”
The scale-up roadmap: from TRL 4 to commercialisation
Technology Readiness Levels (TRLs) are a 1–9 scale developed by NASA to estimate the maturity of technologies, ranging from basic research (TRL 1) to proven, commercial-ready operation (TRL 9). RapidPulse™ is currently at TRL 4, having been validated at laboratory scale.
A pre-pilot Centorr Furnace, capable of processing samples of up to 1kg, was commissioned at Curtin University in early to mid 2026, providing the foundation for the next phase of scale-up.
RapidGraphite expects to benefit from an A$439,664 AEA Ignite grant awarded by the Australian Government to Curtin University to progress the technology from TRL 4 to TRL 5/6 over a program of approximately 12–18 months. The company notes the relevant documents are not yet fully executed.
The sequential milestone pathway includes:
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Pre-pilot scale production trials in the Centorr Furnace.
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Independent battery-cell validation testing at an accredited testing facility.
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Beyond TRL 6, a pilot-scale production program targeting TRL 7/8 in collaboration with furnace technology partners, with the objective of producing graphite at quantities and specifications suitable for battery supply chain qualification.
The company has stated these commercialisation targets are aspirational and are not intended to be forecasts. With negligible cash resources at RapidGraphite, the capital raised by InVert is proposed to be partly used to assist RapidGraphite to further fund its progress.
Why this matters for the InVert investment case
The transaction positions InVert to control both an upstream resource and downstream processing technology. The company’s flagship asset is the 100% owned Morogoro Project, comprising approximately 386km² of granted and application stage exploration ground in Tanzania.
InVert recently released a Maiden Mineral Resource Estimate of 32.2Mt @ 8.0% TGC with 3.56Mt of contained graphite at the Kumba Deposit, classified entirely as inferred, per its 12 August 2026 announcement.
The Maiden Mineral Resource Estimate, released on 12 August 2026, confirmed 32.2Mt at 8.0% TGC at the Kumba Deposit, with 97% of the resource sitting within 75m of surface and the system remaining open down dip, leaving meaningful upside to both size and confidence classification.
Combining upstream extraction in Tanzania with downstream value-add processing underpins the company’s stated “pit-to-market” strategy, aimed at meeting the growing global demand for advanced battery and industrial materials. With the completed placement, InVert is well-funded to advance its scaled-up trials.
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