ExxonMobil has announced an agreement to acquire Superior Graphiteʼs technology, U.S. sites, and select international offices. Superior Graphite, headquartered in the USA, has been involved in the production of graphite and other materials for more than 100 years. Through the acquisition, ExxonMobil plans to enter the synthetic graphite production market for battery anodes.
Faster scaling of production
One of the acquisitionʼs goals is to establish a supply chain for synthetic graphite in the United States. The company anticipates that the growing demand for more powerful batteries will also increase the demand for synthetic graphite. ExxonMobil claims synthetic graphite is more consistent in quality than natural graphite and can be produced from the carbon-rich byproducts of refineries. This would enable faster scaling of production. The acquisition will provide expertise, intellectual property, and a process that is low in energy and land requirements, but high in throughput.
