Urbix, Inc., a Mesa, Arizona-based developer of graphite processing technology, received a strategic investment from funds managed by Appian Capital.
In addition to the investment, Urbix and Appian Capital have executed a Joint Development Agreement (“JDA”) to advance a commercial scale graphite processing facility utilizing the company’s advanced processing capabilities towards a construction decision.
Led by Nico Cuevas, Founder and CEO, Urbix has developed proprietary technology that utilizes a sustainable, environmentally friendly approach for the production of CSPG, a necessary anode material for lithium-ion batteries.
As part of the JDA, Urbix expects to complete its commercial scale demonstration module, produce the sample volumes required for late-stage product validation and expand its customer engagement. Development activities also include the delivery of a Feasibility Study and provision of project finance ahead of a positive Final Investment Decision (“FID”) to construct the Facility. Upon a positive FID, Appian and Urbix intend to establish a Joint Venture for construction and operation of the facility. The facility will serve as a template for additional future production facilities strategically located in the United States and abroad.
In connection with the investment, Appian will obtain two of seven board seats at Urbix. The Urbix Board of Directors will comprise seven directors, including current Board members Chairman Nico Cuevas and Luis Ramos, along with Adam Fisher and Paulo Castellari-Porchia as nominees of Appian, and three independent directors. A Steering Committee will be established to oversee the development activities and will be made up of four members, two of which will be Urbix nominees and two of which will be Appian nominees.
FinSMEs
30/10/2023