Urbix Resources and Vietnam Graphite Group Will Build Green Tech Purification Plant with Expected $200 Million Annual Revenue
Site of proposed Urbix/VGG purification plant in Vietnam
In a move that will ramp up their international operations, award winning green tech purification leader Urbix Resources will work with Hanoi-based Vietnam Graphite Group to build a 70,000 tonne purification plant in Vietnam.
Urbix Resources Chairman Nico Cuevas and Executive Vice-Chairman Anthony J. Parkinson made a recent trip to visit VGG’s Hanoi offices, as well as a visit to the site of the proposed purification plant in Hop Town, Bao Dap commune, Tran Yen district, Yen Bai. While in Vietnam they agreed a Memorandum of Understanding with VGG Chairman and CEO Nguyen Duc Luong. The MOU outlines details of a joint venture state-of-the-art graphite purification facility. The Vietnamese purification plant will be situated within VGG’s graphite mining operations in North Western Vietnam and will serve customers in Japan and the surrounding region.
The facility is scheduled for stage one completion in late 2020. It is anticipated the purification plant will have the capability of achieving revenues exceeding US $200 million annually once the second stage is completed the following year.
Urbix, who will be initiating a Series B financing in the coming months, is planning to establish remote regional purification plants in carefully chosen strategic locations. This international initiative is designed to complement the company’s new 36,000 tonne plant now being established in Mesa/Phoenix, Arizona. The intention is to create these new plants with local operating partners, while maintaining the control plant and R&D center in Mesa.
Plans include placing strategic purification facilities around the world to meet regional demands. Joint venture plants are currently being considered for Brazil and Australia, as well as a second North American location, most likely in the North Eastern United States. A modular prototype package has been developed for Urbix by M3 Engineering and Technology in Tucson Arizona. The package will provide purification joint venture partners with the plans, designs, and features to effectively reconstruct an exact duplicate of the Phoenix facility efficiently in eight months start to finish and at the lowest capital cost in their own building.
Urbix Chairman Nico Cuevas is energized by these developments and the strong relationships the company is building internationally. “These strategic joint ventures will serve the higher demand of the Asian market and will make Urbix’s superior clean green purification technology available at an international level. The resulting facilities will be able to produce ‘graphenesque’ products such as Graphene Nano Platelets, Graphene Oxide and other forms of advanced graphite derivatives on a commercial scale.”
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