GreenRoc Mining PLC on Monday said it has been awarded a grant of £250,000 by the Automotive Transformation Fund in the UK.

The London-based, Greenland-focused mineral exploration company said the funding, which was awarded under the ATF’s recent feasibility study competition, will be used for its feasibility study into the development of a graphite spheronisation processing plant in the UK.

It noted that the funding is administered by the Advanced Propulsion Centre UK, and is intended to ‘accelerate the transition to a net-zero automotive industry in the UK’.

GreenRoc said the plant will produce active anode material from graphite concentrate, which will be received from its Amitsoq project in southern Greenland.

The firm said the funding will be a step forward in the establishment of an anode amterial supply chain for EV batteries.

Chief Executive Stefan Bernstein said: ‘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.’

GreenRoc shares rose 1.9% to 3.71 pence each on Monday afternoon in London.

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