CATL to Invest in New Zealand Developer of Battery-Grade Graphite from Wood

Contemporary Amperex Technology (SHE:300750, HKG:3750) will invest in New Zealand-based CarbonScape, a company that converts wood to graphite for use in lithium batteries, according to a Monday press release. The world's largest battery maker and Hong Kong-based investment firm Lochpine Capital will invest a combined 20% worth about $28 million to produce battery-grade graphite using forestry byproducts, according to an investor presentation. CATL and CarbonScape will test the technology at CATL's facilities in China.