Rain Industries Limited has informed the Exchange regarding a press release dated April 01, 2026, titled "Press Release".
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Rain Industries' wholly owned subsidiary Rain Carbon Canada Inc., along with Green Graphite Technologies (GGT), has successfully completed a project to advance the production of coated spherical purified graphite (CSPG), a key material used in lithium-ion batteries for EVs, energy storage, and other devices. The total project was valued at CA$2.05 million, with the Government of Ontario's OVIN contributing CA$682,000. The project tested three graphite sources — natural flake, end-of-life batteries, and gigafactory scrap — at pilot scale. Over 90% of battery-grade graphite currently comes from China, and this effort aims to build a domestic North American supply chain. Following the success, GGT is moving ahead with its demonstration plant in Mississauga, Ontario, set to be operational in early Q2 2026, with a full commercial plant targeted for 2029.
This is a positive development for Rain Industries as it positions its subsidiary in the high-growth EV battery materials space, potentially opening new revenue streams. While the immediate financial impact is small, the strategic shift toward sustainable battery-grade graphite aligns with global EV and energy storage demand, which could support long-term growth. Shareholders should view this as a forward-looking strategic move rather than a near-term earnings catalyst.