Volt Resources Ltd (ASX:VRC, OTC:VLTRF) subsidiary Zavalievsky Graphite (ZG) has won a grant from the European Union’s Horizon Research and Innovation program for a graphite anode development project called GR4FITE3.
Zavalievsky has been selected for grant funding of up to €600,000 (approximately A$978,000) and is one company in a consortium of 10 industry experts from six countries that will receive up to €5 million in grant funding over the next four years.
The Horizon program recognises GR4FITE3’s environmental attributes, innovation, cost competitiveness and potential to reduce the European continent’s dependence on battery-ready graphite supplies from Asia.
Graphite resilience
Through the GR4FITE3 project, Volt intends to provide graphite resilience for lithium-ion battery anodes through a sustainable European end-to-end supply chain.
The chain is made up of ecologically responsible European miners of natural crystalline flake graphite, such as from one of Europe's largest natural graphite deposits - the ZG mine in Ukraine.
In doing so, 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 original equipment manufacturers (OEMs) such as an established European electric bus manufacturer and a utility grid developer will be made possible.
This consortium hopes to deliver 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.
Volt intends to play a major role in the delivery of these aims.
The ZG mine is one of the largest operating in continental Europe to produce anodic material. It is a proven graphite business in operation since 1934 and during the 1980s, produced about 60,000 tonnes per annum of graphite.
Volt believes that Zavalievsky can meet a significant portion of Europe’s future graphite needs.
Accelerating commercialisation
“Securing non-dilutive funding, which accelerates the commercialisation of our long-life natural graphite anode, is a part of our strategy and we are thankful to European Union for the award,” Volt 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.”
Volt and Zavalievsky Graphite
The critical minerals and battery materials company is a graphite producer and an emerging natural graphite anode producer. Volt has a 70% interest in the ZG business in Ukraine.
The ZG mine and processing facilities have been in operation since 1934 and are near key markets with significant developments in lithium-ion battery production.
ZG benefits from an existing customer base and graphite product supply chains based on excellent transport infrastructure covering road, rail, river and sea freight combined with reliable grid power, ample potable groundwater supply and good communications.