REG - GreenRoc Strategic - MoU with AAM Producer and EIFO Drawdown

GreenRoc Strategic MaterialsAnnouncement

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RNS Number : 3293Y  GreenRoc Strategic Materials Plc  27 March 2026

GreenRoc Strategic Materials Plc / EPIC: GROC / Market: AIM / Sector: Mining

 

27 March 2026

GreenRoc Strategic Materials Plc

("GreenRoc" or the "Company")

 

Technology MoU Signed with International AAM Producer

Drawdown of EUR 1,050k of EIFO Loan Funds

 

 

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased to announce
that it has signed a non-binding memorandum of understanding ("MoU") with a
leading producer and supplier of active anode material ("AAM") to major global
automotive OEMs and battery cell manufacturers for a Technology Licence
Agreement which will enable Greenroc to coat and test Amitsoq spheronised
purified graphite ("SPG") products and ultimately to produce coated SPG at
Greenroc's planned full-scale production plant.

 

GreenRoc is also pleased to announce that it has drawn down a second tranche
of loan funding amounting to €1,050,000 (circa £900k) from the Export and
Investment Fund of Denmark ("EIFO") to cover operational costs related to the
development of the Amitsoq Graphite Deposit and  AAM pilot plant.

 

MoU for AAM Coating Technology

 

Since 2023, Greenroc has been in regular contact with a leading global
industry group with a specialism in natural graphite-based anode materials
("Global Producer") regarding access to its leading technology for the coating
of Amitsoq SPG. These discussions have now led to the signing of an MoU which
provides a clear roadmap to the negotiation of binding agreements for the
licensing of the technology.

 

The aim of the MoU is to set out the key terms of the agreements under which
the Global Producer will provide Greenroc with access to market leading
coating technology. Coating of spherical graphite is the third and final step
in making AAM, and comes after spheronisation and purification.

 

Under the MoU, the parties have agreed to cooperate to settle the terms of a
binding Work Consignment Agreement under which Greenroc will have its Amitsoq
SPG coated and tested by the Global Producer in battery conditions to assess
performance and provide data which Greenroc can then utilise in refining its
products and approaching offtakers.  The coating and testing will take place
at the Global Producer's facilities.

 

The MoU also sets out the key terms, including payment terms, of a binding
Technology Licence Agreement to follow the testing phase which will provide
GreenRoc with long-term access to the Global Producer's market-leading coating
technology so that the Company can incorporate a final coating stage within
its full-scale commercial AAM plant.

 

EIFO Drawdown; Use of Funds

 

The funds have been drawn down pursuant to the convertible loan agreement
between EIFO and GreenRoc announced by the Company on 22 October 2025 and will
be utilised for the following aspects of the work programme:

 

Amitsoq Graphite Deposit

-    Conducting pre-tests on a subsample from the 18t bulk sample collected
underground at Amitsoq in fall 2025 (see announcement on 6 November 2025)

-    Anticipated downpayment of drill contract

-    Preparation of leaching tests on Amitsoq material, related to the
Environmental Impact Assessment.

AAM Pilot Plant

-    Hydrofluoric acid ("HF")-free purification optimisation test work

-    Installation of power, wiring and other expenses in warehouse related
to plant installation

-    Payment of purification plant

-    Acquisition of test instruments for QC on spherical graphite
production.

EIFO Loan Facility

 

Details of the CLA with EIFO were set out in the Company's announcement of 22
October 2025. Following this drawdown, €3,301,825 of funds remain available
via the loan, which is anticipated to be sufficient to cover the full 2026
work programme. The entirety of the 2026 work programme will include a Phase
III drilling programme, processing of the full 18t bulk graphite ore sample
and construction and operation of the AAM pilot plant in Denmark. It is also
planned that the Amitsoq Mine Prefeasibility Study can be initiated by the end
of the year.

 

Under the terms of the agreement, the EIFO loan is not repayable or
convertible until five years from first drawdown, which is December 2030.

 

 

GreenRoc's CEO, Stefan Bernstein, commented:

"This MoU with a leading international AAM producer further strengthens our
technological edge by aiming to provide GreeenRoc with access to
market-leading coating technology, positioning GreenRoc at the forefront of
sustainable anode material production. The support provided by the EIFO loan
facility is instrumental in enabling us to execute our 2026 work programme and
advance toward full-scale operations. I stress that all of this work can now
take place without diluting existing shareholders thanks to EIFO".

 

 

*ENDS** 

 

For further information, please contact:

 

 Investor questions on this announcement         https://greenrocplc.com/link/P7bMkr (https://greenrocplc.com/link/P7bMkr)

 We encourage all investors to share questions

 on this announcement via our investor hub
 GreenRoc Strategic Materials Plc                info@greenrocplc.com (mailto:info@greenrocplc.com)

 Stefan Bernstein, CEO                           +44 20 3950 0724

 Cairn Financial Advisers LLP (Nomad)

 Sandy Jamieson / Louise O'Driscoll              +44 20 7213 0880

 Oberon (Broker)                                 +44 20 3179 5300

 Nick Lovering/Adam Pollock

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market, financial and business conditions, competition
for and availability of qualified staff and contractors, regulatory processes
and actions, technical issues, new legislation, uncertainties resulting from
potential delays or changes in plans, uncertainties resulting from working in
a new political jurisdiction, uncertainties regarding the results of
exploration, uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of regulatory and
other third party consents and approvals, uncertainties regarding the
Company's or any third party's ability to finance, execute and implement
future plans and programmes, and the occurrence of unexpected events. Actual
results achieved may vary from the information provided herein as a result of
numerous known and unknown risks and uncertainties and other factors.

 

 

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on
developing the Amitsoq Graphite Project in Greenland into a producing mine to
meet critical demand from Electric Vehicle ('EV') manufacturers in Europe and
North America for new, high grade and conflict-free sources of graphite.
Amitsoq is one of the highest-grade graphite deposits in the world with a
combined Measured, Indicated and Inferred JORC Resource of 23.05 million
tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain
several decades of mining. GreenRoc received an Exploitation Licence from the
Government of Greenland on 8 December 2025, valid for 30 years.

 

The plans for the Amitsoq Project include the construction of a facility to
further process the mined graphite into active anode material - an
indispensable component of Li-batteries - which plans have independently and
positively evaluated to prefeasibility study stage.

 

GreenRoc has entered into a partnership with the Norwegian battery
manufacturer Morrow Batteries to establish a regional supply chain. The
Amitsoq Project has been designated a Strategic Project by the EU and in March
2025 it was also ESG-certified by Digbee™, an independent platform which
provides sustainability assessments for the mining industry. In October 2025,
GreenRoc signed a binding secured loan facility for EUR 5.2 million from the
Export and Investment Fund of Denmark ("EIFO"), for the financing of the
Company's work programme. In December 2025, GreenRoc, together with its
consortium partners DTU and IPU, has been granted a sum of up to DKK
10,448,826 (ca £1.2m) for its project entitled "EU-Graphite: Building
European production of graphite active anode material" ("EU-Graphite") from
the Energy Technology Development and Demonstration Programme ("EUDP"), a
Danish government funding programme.

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