Alba Mineral Resources (AIM: ALBA) portfolio company, GreenRoc Mining (AIM: GROC), has been awarded a grant by the UK’s Automotive Transformation Fund (ATF) to part-finance a feasibility study into a graphite spheronization processing plant for active anode material supplied from its Amitsoq graphite project.
GreenRoc Mining is a company focused on the development of critical mineral projects in Greenland and was awarded a grant of approximately £250,000 under the ATF’s recently closed Feasibility Study Competition.
The grant will part-finance a feasibility study into the establishment of a processing plant in the UK to produce active anode material from graphite concentrate delivered from GreenRoc’s Amitsoq graphite project in southern Greenland.
The ATF has expressed the view that GreenRoc’s feasibility study project could have significant strategic benefits for the UK in terms of security of supply and achieving resilience in the EV battery sector. The ATF funding programme is administered by the Advanced Propulsion Centre UK (APC), which deploys government funding and support to accelerate the transition to a net-zero automotive industry in the UK.
The feasibility study is set to start in autumn of 2023 and is expected to be completed by May 2024. GreenRoc will act as project manager, with input from four expert consultants: Benchmark Mineral Intelligence, SLR, ProGraphite, and Decision Risk Analytics.
“This grant funding represents a step forward in establishing a robust supply chain of anode material for EV batteries and fuel cells and will also help bolster the British car industry’s competitiveness in the race to supply electric vehicles to the European market,” GreenRoc’s CEO, Stefan Bernstein, commented.
“I’m particularly happy as this grant shows much-welcomed government support for our ambition to supply the European gigafactory industry with anode material sourced from GreenRoc’s responsibly mined graphite deposit in Greenland.”
For further information, please visit: www.albamineralresources.com & www.greenrocmining.com
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