Grafintec secures site in Finland for graphite anode materials plant

KOTKA, Finland - Grafintec Oy, a wholly owned Finnish subsidiary of Beowulf Mining Plc (AIM:BEM; Spotlight:BEO), has signed a site reservation agreement with the City of Kotka for its planned Graphite Anode Materials Plant (GAMP), according to a company press release.

The agreement secures a 13-hectare plot in the Keltakallio industrial area for an initial 12-month period, with possible extensions. The site is located adjacent to where Easpring Finland New Materials began construction of a cathode active material plant in April.

The Keltakallio industrial zone spans 260 hectares and is part of Finland’s emerging battery manufacturing hub. The location offers access to the Port of Hamina-Kotka, Finland’s largest container port, as well as renewable energy and water resources.

Grafintec plans to develop a processing facility for high-performance anode materials to support Europe’s lithium-ion battery industry. The company completed a Pre-Feasibility Study earlier this year showing a post-tax Net Present Value of €924 million and Internal Rate of Return of 37% over 25 years for its first phase of production.

The initial phase represents a planned investment of €225 million and is expected to create 85 direct jobs, with a potential expansion increasing total investment to €675 million and growing the workforce to approximately 250.

"This agreement marks another important milestone in Grafintec’s strategy to establish a leading presence in Europe’s fast-growing battery value chain," said Rasmus Blomqvist, Managing Director of Grafintec.

Esa Sirviö, Mayor of Kotka, noted that the reservation demonstrates progress in the region’s "Power Coast" battery industry development initiative.

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