RE: Lets see the late trades5 Jun 2025 21:21
GreenRoc and Morrow Bateries (Norway)
This MoU between GreenRoc and Morrow is a significant step forward in GreenRoc's journey to become a prominent producer of graphite active anode material for Europe. Teaming up with such a ambitious battery producer is a huge achievement
GreenRoc is working with Morrow Batteries to develop sustainable graphite active anode materials for battery production, with plans to establish a Nordic battery value chain.
Morrow's battery cell factory is the first LFP (lithium iron phosphate) Gigafactory in Europe. It is located in Eyde Materials Park in South Norway, some 3km from Port of Arendal at Eyde and commenced battery cell test production in August 2024
GreenRoc has reserved an area in the Eyde Materials plant to locate its first AAM plant (see RNS of 27 August 2024).
GreenRoc has signed an LOI with Otra Holding a/s, the owner of Eyde Materials Park in southern Norway, a sustainable industrial park focused on the battery value chain and the green transition, to reserve an area of 100,000m² for GreenRoc's AAM plant.
The land that GreenRoc has reserved can be ready for construction by 2025. An industrial road to connect the Port of Arendal and Longum Nord is under final construction.
The LOI reserves the area for GreenRoc for an initial period of 6 months from the date of the signature, which may be extended by mutual agreement.
Locations below:
https://eydematerialpark.com/
58.50023° N, 8.80416° E
In the £735k RNS it says:
GreenRoc's CEO, Stefan Bernstein, commented:
"This fundraise allows us to move on with both the Amitsoq mine and our plans for the graphite anode materials plant. In addition to some technical advancements, we will also engage with a LCA consultant to help us document the savings in CO2 emissions associated with locating our AAM plant in the Nordic region.
"We will now work to exploit the various opportunities for public financing of parts of the work programme, building on the fact that the Amitsoq mine and the graphite anode materials plant have been granted formal "Project" status by the intergovernmental Mineral Security Partnership and we have applied to become a Strategic Project under the EU's Critical Raw Materials Act (see our RNSs of 27 August and 30 September 2024). We will strive to establish a strong financial foundation for GreenRoc to develop its capacity to produce graphite anode material for the European Battery industry.
"I would like to thank the investors supporting this raise - in what remain challenging capital markets, we set out to raise a minimum of £500,000 and achieved a near 50% oversubscription, which is a strong endorsement of the huge potential upside associated with GreenRoc."
So I take it’s going forward with the AAM Plant production in Norway