The ATF is a funding programme created to support large-scale industrialisation and is administered by the Advanced Propulsion Centre UK, (APC) to accelerate the transition to a net-zero automotive industry in the UK
GreenRoc secures Grant from UK Automotive Transformation Fund. (Credit: CHUTTERSNAP on Unsplash)
GreenRoc Mining plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is delighted to announce that it has been awarded a grant of approximately £250,000 by the Automotive Transformation Fund (“ATF”) in the UK under its recently closed Feasibility Study Competition. The grant will part-finance a feasibility study into the establishment of a graphite spheronisation processing plant in the UK to produce active anode material from graphite concentrate delivered from GreenRoc’s Amitsoq Graphite Project in southern Greenland (“Amitsoq” or the “Project”).
The ATF has awarded GreenRoc a grant of approximately £250,000 to part-finance a feasibility study into establishing a UK graphite spheronisation processing plant to produce active anode material in the form of coated spherical purified graphite (cSPG) from graphite concentrate shipped from Amitsoq.
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 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.
In GreenRoc’s view, the grant funding represents a step forward in establishing a robust supply chain of anode material for EV batteries and fuel cells to bolster the British car industry.
The feasibility study starts in Autumn 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.
GreenRoc’s CEO, Stefan Bernstein, commented: “It is with great pleasure that we can announce today that Great Britain’s Automotive Transformation Fund has awarded GreenRoc a significant grant towards the funding of a feasibility study into the manufacturing of active anode material or cSPG in the UK using graphite concentrate from GreenRoc’s world-class Amitsoq Deposit in southern Greenland.
“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.
“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.
“Based on the outcome of the feasibility study, GreenRoc hopes to be able to make a strong business case for potential joint venture partners and investors to join forces with us to make the production of anode material in the UK a reality.”
Source: Company Press Release