Volt Resources, an Australian graphite mining company, has submitted four non-dilutive funding proposals that could inject more than A$150m ($99.3m) into the company.

The move is aimed at establishing Volt as a leading global producer and supplier of both flake and processed graphite, targeting customers in North America and Europe.

These proposals include a submission by Volt unit Zavalievsky Graphite (ZG) for a cost-reimbursable, multi-year programme focused on graphite processing, which if successful could help ZG garner up to €2.4m ($2.61m).

Volt Energy Materials (VEM), another Volt unit, has also submitted a proposal for a cost reimbursable, multi-year programme to design, build and commission a 10,250 tonnes per annum integrated Coated Spheroidised Purified Graphite or natural graphite anode powder plant in Tuscaloosa, in the US state of Alabama.

This, if successful, will infuse more than $100m.

VEM also submitted a proposal for a cost-reimbursable programme on critical materials processing, which could inject $1m, and started talks with the US Government for an additional multi-year, multimillion-dollar graphite processing programme.

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Volt managing director and CEO Prashant Chintawar said: “I am pleased with the company’s progress and submission of these high-quality, complex and multi-party bids for highly competitive non-dilutive funding awards.

“This has been our focus for the first calendar quarter, and we are thankful to battery producers, raw material suppliers, community organisations, academic institutes, economic development authority and other partners who are assisting us with the execution of our strategy to build an integrated graphite business.”

The company’s strategy capitalises on favourable market conditions including legislative and government support in North America and Europe for developing electric vehicle (EV) and battery ecosystems.

These conditions are further bolstered by Chinese export control restrictions on graphite, the growing need for localisation of supply chains and a projected demand versus supply gap.

Graphite has become a critical mineral of focus for lawmakers due to its essential role in the EV and battery manufacturing sectors.

Volt executive chairman Asimwe Kabunga said: “Volt has made strong progress over the last quarter as it focuses on leveraging the increased demand for graphite and markets seeking to diversify supply chains to support the EV industry.

“With two mines representing some of the world’s largest supplies of graphite and the progression of our planned graphite anode manufacturing facility in Alabama, US, I believed we are well-placed to capitalise on this opportunity.

“Our A$150m plus non-dilutive funding pipeline forms a key part of this strategy to become a market leader.”