International Graphite Secures 50/50 Europe JV with ALKEEMIA for 10,000tpa Plant
International Graphite has entered into a Memorandum of Understanding with Italian chemical manufacturer ALKEEMIA S.p.A. to establish a graphite processing joint venture in Europe. The International Graphite ALKEEMIA Europe Joint Venture will be located at Porto Marghera near Venice, targeting initial production of approximately 10,000 tonnes per year from late 2027.
International Graphite and ALKEEMIA to build European graphite processing joint venture
The proposed joint venture represents a material step in IG6’s expansion strategy, establishing the company’s second production facility and first European presence. The structure positions the partnership for rapid market entry whilst minimising capital intensity through shared infrastructure.
Under the proposed terms, ALKEEMIA will hold 51% equity whilst IG6 retains 49%, yet profits will be split equally at 50/50. This arrangement provides IG6 with a profit share exceeding its equity stake, reflecting favourable commercial terms.
The strategic framework includes:
- Structure: 51% ALKEEMIA / 49% IG6 ownership with 50/50 profit sharing
- Location: Porto Marghera industrial complex near Venice, Italy
- Production Target: Approximately 10,000t/y from late 2027, with expansion potential
- Timeline: Binding agreements targeted for end of May 2026, Final Investment Decision by June 2026
The venture directly addresses the European Union’s Critical Raw Materials Act targets. Introduced in May 2024, the legislation mandates that 40% of annual consumption of strategic raw materials must be processed and refined within the EU by 2030. The Porto Marghera facility is positioned to capture demand from this regulatory-driven supply chain restructuring.
Advanced negotiations are progressing with a leading European graphite sales firm to establish distribution channels ahead of production commencement.
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Strategic advantages of the Porto Marghera site
The Porto Marghera location provides structural advantages that compress development timelines and reduce execution risk compared to greenfield developments. The site benefits from existing permits, eliminating a common bottleneck in industrial project development.
ALKEEMIA has invested approximately €80 million in capital upgrades at Porto Marghera, modernising facilities and expanding production capacity. This established infrastructure base allows the joint venture to leverage existing utilities, waste management systems, transport logistics, and a skilled workforce without incurring equivalent capital costs.
The partnership divides contributions strategically between the two parties:
| ALKEEMIA Provides | IG6 Provides |
|---|---|
| Fully permitted industrial site | Plant and equipment funding |
| Skilled workforce and operations management | Downstream graphite intellectual property |
| Infrastructure (utilities, transport, logistics) | Technical specifications for target products |
| Hydrofluoric acid and chemical reagent supply | Graphite processing expertise |
| Proprietary purification technology | Market access and customer relationships |
Direct access to hydrofluoric acid (HF) and other essential reagents provides a cost advantage. These chemicals are critical for producing high-purity graphite products but represent significant logistics and handling costs when sourced externally.
ALKEEMIA will manage construction and operate the facility under an Operations and Management Agreement, drawing on its experience operating complex chemical processes at industrial scale.
Proven collaboration delivers technical validation
The joint venture builds on an existing commercial relationship established in December 2025. Under a Letter of Intent signed that month, ALKEEMIA agreed to provide graphite purification tolling services to IG6.
IG6 has been allocated up to 50% of the start-up capacity of ALKEEMIA’s new purification plant at Porto Marghera. The facility will commence with 200 tonnes per year throughput, ramping to 20,000t/y by 2030. These purification facilities will be available to the joint venture on terms to be negotiated.
Pilot-scale purification testwork completed in February 2026 achieved carbon purity exceeding 99.9% on IG6-supplied feedstock. This validates the technical suitability of ALKEEMIA’s purification process for producing high-specification graphite products and battery anode materials.
The successful pilot results reduce technical execution risk for investors by demonstrating process compatibility prior to full-scale development.
Understanding Europe’s graphite supply gap
Europe currently imports the majority of its graphite requirements, with China dominating global supply. This import dependency creates supply chain vulnerability, particularly as European manufacturing sectors increase graphite consumption.
Three primary demand drivers are reshaping European graphite requirements:
- Industrial applications: Traditional uses in refractories, lubricants, and metallurgy maintain steady baseline demand
- Electromobility: Battery electric vehicle production requires high-purity graphite for lithium-ion battery anodes
- Energy storage: Grid-scale battery systems supporting renewable energy integration consume processed graphite
The EU Critical Raw Materials Act of May 2024 aims to reduce this external dependency. The legislation establishes binding targets requiring 40% of strategic raw materials consumed annually to be processed and refined domestically by 2030. Graphite is classified as a strategic raw material under this framework.
This regulatory mandate creates structural demand for European-based processing capacity. Companies establishing domestic facilities benefit from regulatory tailwinds and proximity to end-users seeking supply chain security.
The IG6-ALKEEMIA joint venture is positioned to serve this growing market segment by providing locally processed graphite that meets both technical specifications and supply chain security requirements.
Management commentary
Management from both organisations highlighted the strategic fit and competitive positioning of the partnership.
Andrew Worland, Managing Director and CEO, International Graphite
“The MOU is a major step in our plans to build a significant graphite processing network. The Europe plant will be our second production facility alongside our operations at Collie, in Western Australia. Our priority is production and delivery. We are delighted to consolidate our collaboration with ALKEEMIA. Their existing infrastructure, chemical platform and highly skilled team will significantly reduce capital cost, execution risk and time to market. This creates a resounding competitive advantage for the joint venture in a growing graphite market.”
Aidan Nania, Executive Director, International Graphite
“The joint venture with Alkeemia represents a significant milestone for both companies. Together, we are establishing localised, high-specification graphite production in Europe to meet growing customer demand and the EU’s drive to secure critical mineral supply chains.”
ALKEEMIA CEO Lorenzo Di Donato emphasised the alignment between the partnership and the company’s downstream diversification strategy, noting the platform’s capability to support complex, high-purity industrial processes.
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Next steps and investment timeline
The parties have executed a Memorandum of Understanding that establishes exclusivity and confidentiality provisions whilst remaining non-binding on commercial terms. Exclusivity extends through 31 December 2026, though both parties are targeting execution of binding agreements well in advance of this date.
Key milestones on the pathway to production include:
- Technical and economic analysis: Currently underway to inform binding agreement terms
- Binding JV agreements: Targeted for execution by end of May 2026
- Final Investment Decision (FID): Targeted for June 2026
- Construction and commissioning: Timeline to support late 2027 production start
- Initial production: Approximately 10,000t/y from late 2027
- Expansion potential: Scalability beyond initial production capacity
The Final Investment Decision will be based on completed technical and economic analysis. Economics and costs are yet to be determined at this stage.
Sales channel development is progressing in parallel with joint venture formalisation. Advanced negotiations are underway with a leading European graphite sales firm to establish distribution arrangements.
The facility will process graphite concentrates sourced from existing mining operations and trading houses, minimising supply risk through diversified feedstock procurement.
For investors, the clear milestone sequence provides defined catalysts to monitor execution progress through 2026 and into production in 2027.
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