UPDATE 1-Nviro Cleantech to get EU grant for wood fibre business

* To get grant of up to 785,450 euros

* Ops can continue with current overhead levels to Sept 30

* Cash stands at about 3 mln stg at the year end (Adds details)

Nov 4 (Reuters) - Clean technologies developer Nviro Cleantech Plc (NVR.L: Quote, Profile, Research) said it got the final approval of a European Union grant of up to 785,450 euros ($1.16 million) for its wood fibre recycling technology business.

The company, whose recent cost-cutting measures included a reduction in headcount, said its operations could continue with current overhead levels to the end of the financial year ending Sept. 30, 2010.

Cash stood at about 3 million pounds at the year end.

Nviro Cleantech, which operates in Britain, the United States and Cayman Islands, said the European Union grant would be invested as one quarter of the costs of development of a full scale industrial plant over a 30-month period, beginning from Nov. 1.

The company's shares were up more than 3 percent at 7.8 pence at 0813 GMT on the London Stock Exchange. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Maju Samuel)