The companies have signed a Memorandum of Understanding (MOU) with the intent to enter into a licensing agreement within the next 21 days, they said in a statement.

CAMI has developed a method of producing high-quality few-layer graphene and derivatives by exfoliation of processed high-grade vein graphite.

The exfoliation process is low-energy consuming but results in increased yield (>60%) of few-layer graphene products validated for batteries and energy cells, said the firms.

"[The] key to obtaining best quality graphene is to achieve high exfoliation rate with low energy input. The unique CAMI Technology has achieved this by using high quality processed Vein graphite with appropriate applied shearing force," said Dr Mallika Bohm, chief executive of CAMI consultancy.

"Unlike chemical, electrochemical or high-pressure or radiation exfoliation processes, in this process, no harmful chemical or changes to bonding structure in graphene is involved," added Bohm.

Ceylon Graphite's chief scientific executive Siva Bohm added: "This industrially scalable process is already designed for large volume production; additional modules can be added as demand increases. "