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GreenRoc Strategic Materials PLC said on Monday that its Danish subsidiary, GreenRoc DK a/s, has been granted government funding for a proposed graphite project. The Greenland-focused critical mineral project developer said the grant, from the Danish government’s Energy Technology Development & Demonstration Programme or EUDP, is worth up to kr10.4 million or around £1 million. GreenRoc said the funds are intended to support its proposed ’EU-Graphite: Building European production of graphite active anode material’ project. The money will be directed towards supporting the development of the company’s active anode material processing capacity, GreenRoc said. The company stated: ‘With the EU-Graphite project, it is GreenRoc’s ambition to establish the capabilities for downstream purification of spherical graphite within Europe, creating the first end-to-end pathway from [the Amitsoq graphite deposit] to battery-grade material and reducing Europe’s present complete dependency on overseas raw material supply and processing capacity. ‘By validating [a hydrofluoric acid-free] process at pilot scale, the project will lay the foundation for a safe, sustainable, and domestic European supply of spherical purified graphite.’ ‘This funding enables us to accelerate our technical development, reduce execution risk, and move towards industrial-scale production,’ commented Chief Executive Officer Stefan Bernstein. ‘Our ambition is to establish a fully European, environmentally responsible pathway from resource to battery anode material - reducing dependency on overseas supply and supporting the green energy transition.’ GreenRoc shares closed 3.0% lower at 3.20 pence each on Monday in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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