Shares of Renascor Resources (ASX:RNU) experienced an uptick as high as 3.6%, reaching A$0.145 due to a new licensing agreement.

The mineral exploring company has declared its partnership with Dorfner Anzaplan for an innovative downstream purification process.

The entity says this agreement is to implement a hydrofluoric acid free purification method to manufacture battery-grade purified spherical graphite.

This production of battery-grade purified spherical graphite will be carried out at Renascor Resources' (ASX:RNU) proposed downstream manufacturing hub in South Australia.

Despite this uplift, the company’s stock has seen a drop of 34.9% this year up to the last close.

Renascor Resources (ASX:RNU) is a mineral exploration firm engaged in the downstream purification process.