GreenRoc Strategic Materials Plc (LSE:GROC) spiked higher in Monday's early trade, after announcing a consortium led by its wholly owned Danish subsidiary has been awarded grant funding of up to DKK 10.45m, equivalent to about £1.2m, under Denmark’s Energy Technology Development and Demonstration Programme.
The funding supports the EU-Graphite project, which aims to advance processing capacity for graphite active anode material in Europe.
The consortium includes GreenRoc DK, the Danish Technical University and engineering consultancy IPU. The grant will cover qualifying expenses over a 24-month period from 1 January 2026 to 31 December 2027, with around DKK 6.3m payable to GreenRoc to support the development of its processing capabilities.
The project focuses on scaling up a hydrofluoric acid-free graphite purification technique as an alternative to conventional HF-based processes.
GreenRoc said the funding will be used to demonstrate the non-HF purification method at pilot scale and establish the basis for industrial scale-up within Europe.
Stefan Bernstein, chief executive officer of GreenRoc, said: “This non-dilutive funding will allow GreenRoc to work with and receive technical support from the strong research expertise within two departments at the Danish Technical University as well as from IPU.”
In London, GreenRoc started Monday's session higher, changing hands as high as 3.8p, before easing, and was last priced at around 3.28p.