Volt Resources Limited
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Volt Resources Subsidiary Receives Significant Grant Funding for Graphite Anode Development Project
Volt Resources Limited's subsidiary, Zavalievsky Graphite, secures funding through EU's Horizon program for innovative GR4FITE3 project
Volt Resources Limited (ASX: VRC), an Australian graphite producer and natural graphite anode developer, has announced that its subsidiary, Zavalievsky Graphite (ZG), has been selected to receive grant funding of up to €600,000 (approximately A$978,000) through the European Union's Horizon Research and Innovation program. The funding will support the graphite anode development project called GR4FITE3.
Advancing the Graphite Anode Development Project
The GR4FITE3 project aims to establish a sustainable European end-to-end supply chain for lithium-ion battery anodes by enhancing the resilience of graphite. As one of the ten partners selected from six countries to receive up to €5 million in grant funding over the next four years, ZG will contribute its expertise in natural crystalline flake graphite mining.
ZG operates one of Europe's largest natural graphite deposits in Ukraine, making it an ecologically responsible source for the project. The GR4FITE3 project encompasses various stages, including the production of high-density anodes, the development of battery cells and modules, the certification of lithium-ion batteries, and the utilisation of these products by original equipment manufacturers (OEMs), such as an electric bus manufacturer and a utility grid developer.
Benefits and Implications
The grant funding received by Zavalievsky Graphite brings several notable advantages to Volt Resources and ZG.
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Firstly, it secures non-dilutive funding, allowing the companies to advance their natural graphite anode technology without diluting the existing shareholder base. Furthermore, it accelerates the commercialisation of their anode product, propelling Volt Resources and ZG ahead in the rapidly evolving battery materials market.
In addition to commercial advantages, the GR4FITE3 project will contribute to delivering innovation and cost-competitiveness in the lithium-ion battery sector. The development of an improved supply chain logistics system and the utilisation of superior anode-grade graphite and batteries will showcase Europe's capabilities in battery technology and reduce the region's dependence on graphite supplies from Asia, thereby enhancing the security and sustainability of European battery production.
Looking Ahead
With the grant funding secured through the Horizon program, Volt Resources and Zavalievsky Graphite are poised to make significant strides in the development of graphite anodes for lithium-ion batteries. The collaboration with other partners in the GR4FITE3 project will foster innovation, drive cost efficiencies, and pave the way for the widespread adoption of sustainable battery solutions in Europe.
As the demand for lithium-ion batteries continues to surge globally, Volt Resources is well-positioned to play a pivotal role in the growing energy storage market. The grant funding not only recognizes the potential of Volt Resources' subsidiary, Zavalievsky Graphite, but also underscores the company's commitment to advancing sustainable battery technologies.
Disclaimer: This article provides a summary of the original Volt Resources announcement and is not a substitute for the full text of the announcement.
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