Evion Group (ASX:EVG) said its India-based joint venture, Panthera Graphite, has completed its first shipment of expandable graphite to the US, generating about AU$400,000 in revenue, according to a Thursday filing with the Australian bourse.

The remaining 18 metric tonnes of the order are expected to be shipped within a week, the filing said.

Proceeds from the sale were to fund the acquisition of more than 450 metric tonnes of graphite concentrate, the filing added.

The JV has about AU$1.1 million worth of concentrate and inventories in store, the company said.

Shares of the company rose 10% in recent Thursday trade.