EcoGraf: how Germany became the main market
| Month | German share of trading | Shares traded in Germany |
|---|---|---|
| Nov 23 | 59.1 % | 12,518,341 |
| Dec 23 | 51.1 % | 4,124,627 |
| Jan 24 | 60.1 % | 4,376,520 |
| Feb 24 | 66.3 % | 11,744,737 |
| Mar 24 | 64.8 % | 6,475,000 |
| Apr 24 | 61.6 % | 4,059,555 |
| May 24 | 46.9 % | 2,773,696 |
| Jun 24 | 59.8 % | 5,335,799 |
| Jul 24 | 45.1 % | 7,885,075 |
| Aug 24 | 48.5 % | 4,555,158 |
| Sep 24 | 46.8 % | 4,411,193 |
| Oct 24 | 59.3 % | 7,762,791 |
| Nov 24 | 56.3 % | 9,940,565 |
| Dec 24 | 56.2 % | 8,366,406 |
| Jan 25 | 61.3 % | 9,764,349 |
| Feb 25 | 60.7 % | 22,994,747 |
| Mar 25 | 74.5 % | 114,778,653 |
| Apr 25 | 80.4 % | 35,658,477 |
| May 25 | 73.5 % | 22,358,533 |
| Jun 25 | 74.0 % | 14,828,649 |
| Jul 25 | 72.3 % | 24,804,401 |
| Aug 25 | 61.6 % | 8,305,598 |
| Sep 25 | 68.4 % | 12,048,899 |
| Oct 25 | 69.2 % | 58,349,809 |
| Nov 25 | 79.9 % | 29,497,547 |
| Dec 25 | 80.7 % | 23,374,429 |
| Jan 26 | 66.5 % | 15,319,704 |
| Feb 26 | 65.6 % | 12,413,014 |
| Mar 26 | 81.5 % | 13,145,462 |
| Apr 26 | 87.5 % | 13,651,260 |
| May 26 | 81.0 % | 14,588,364 |
| Jun 26 | 84.6 % | 12,004,853 |
| Jul 26 | 84.4 % | 7,439,935 |
| Aug 26 | 74.5 % | 9,310,773 |
| Sep 26 | 75.5 % | 8,660,462 |
Situation
EcoGraf is developing the Epanko graphite project in Tanzania and a battery anode material business, with Mitsubishi Chemical as a partner and a planned debt facility of up to US$105 million to be structured through KfW IPEX-Bank.
What we did
Long-term coverage on GOLDINVEST.de with more than 100 articles and video interviews with Managing Director Andrew Spinks on financing, offtake and the path to production.
Result
Germany already played an important role: before 2025, around half of all trading in EcoGraf took place in Germany. Since March 2025, it has been the main market. The German share has stayed above 60 % every month, mostly between 70 and 85 %, and reached 81.3 % over the last six months.
More than half of EcoGraf’s shareholders are German today (company information).
GOLDINVEST significantly strengthened our visibility and investor engagement in the German-speaking market, helping position EcoGraf as a key supplier of sustainable battery materials in Europe.
EcoGraf is a client of GOLDINVEST. Coverage is paid and labelled “Paid partnership”. More on our conflict of interest.
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