PTBA - Partners with CATL for Lithium-Ion battery materials, targets 2028

PTBA - Partners with CATL for Lithium-Ion battery materials, targets 2028 Bukit Asam (PTBA) partners with Contemporary Amperex Technology Co. Limited (CATL) for a pilot project to process coal into Artificial Graphite and Anode Sheet as raw materials for Li-ion batteries, with CATL supplying cathode materials and Badan Riset dan Inovasi Nasional (BRIN) supporting anode development. Large-scale production is targeted for 2028, in line with PTBA's downstream commitment will be directed to support the development of the MIND ID EV ecosystem. PTBA is also exploring partnerships with East China Engineering for converting coal to dimethyl ether (DME), following APCI’s exit to focus on U.S. hydrogen projects. Additionally, PTBA is evaluating other downstream options like methanol and ethanol. (Source : Bloomberg Technoz, Kontan) Comment : PTBA's partnership with CATL and BRIN to develop coal-based lithium-ion battery materials is a strategic step towards energy diversification and value-added coal utilization. With CATL's expertise in cathode materials and BRIN’s support in anode development, PTBA aims to capture growing demand in the battery sector, potentially enhancing its revenue streams. The 2028 target for commercial production marks a long-term investment with moderate risk; however, securing strong partners like CATL signals confidence. Additionally, PTBA’s exploration of DME and alternative downstream products reflects a flexible approach in maximizing coal assets despite prior investor setbacks.