EcoGraf (ASX:EGR) has obtained a $2.9M grant from the Australian government to develop a battery anode material product qualification facility.
The business said the facility, expected to be commissioned early next year, will support product testing activities and offtake discussions with prospective anode, battery and electric vehicle customers.
The grant, which will cover 50% of the $5.8M forecast project cost, is part of the federal $48.9M Critical Minerals Development Program, aimed at spurring the country's critical minerals sector.
Shares of EcoGraf were up 4.37% at 1:39pm AEST.