Graphite producer and natural graphite anode developer Volt Resources Limited (ASX: VRC) has won a grant from the European Union’s Horizon programme for a graphite anode development project called “GR4FITE3”.
The consortium of industry experts will receive up to €5 million in grant funding over the next four years of which the ZG allocation will be up to approximately A$978,000.
The GR4FITE3 project intends to provide graphite resilience for lithium-ion battery anodes through a sustainable European end-to-end supply chain. This supply chain comprises of ecologically responsible European miners of natural crystalline flake graphite from one of Europe’s largest natural graphite deposit – the Zavalievsky Graphite mine. This will enable the production of high-density anodes, the creation of cells, the development of battery modules, the certification of lithium-ion batteries for safety and viability, and ultimately the use of these products by OEMs such as an established European electric bus manufacturer and a utility grid developer, among others.
This consortium will deliver both innovation and cost-competitiveness, to demonstrate improved supply chain logistics and superior performance of anode-grade graphite and batteries for the specific needs of European OEMs.
The Horizon GR4FITE3 project incorporates ten participants from six countries. The consortium press release (see attached) refers to the Zavalievsky graphite mine as one of the largest operating in continental Europe for the production of anodic material. ZG is a proven graphite business in operation since 1934 and, during the 1980s, produced about 60,000 tonnes per annum of graphite. We believe that ZG can meet a significant portion of Europe’s future graphite needs.
Securing non-dilutive funding, which accelerates the commercialization of our long-life natural graphite anode, is a part of our strategy and we are thankful to European Union for the award,” CEO, Prashant Chintawar, said.
“Through Zavalievsky Graphite, Volt intends to work closely with the GR4FITE3 partners for creation of a sustainable supply chain for the rapidly growing lithium-ion battery industry in Europe. Results of this project are expected to benefit Volt’s planned downstream facilities for the production of natural graphite anode.”