New Site Reserved in the GigaVaasa Area for establishing Anode Materials Production

Beowulf, is pleased to announce that the Company’s wholly owned Finnish subsidiary Grafintec Oy (“Grafintec”) has signed a site reservation agreement with the municipality of Korsholm, securing Plot 1, Block 3017 in the GigaVaasa area, for the establishment of a Graphite Anode Materials Plant (“GAMP”). The agreement was signed on 13 February 2023 and the reservation is valid for an initial six-month period from signing, with the option to extend.

Over the coming months, Grafintec will work closely with the municipality of Korsholm and other important stakeholders, continue with its Pre-Feasibility Study (“PFS”) announced on 9 January 2023, and in addition parallel workstreams as part of an Environmental Assessment Impact (“EIA”) programme. Grafintec intends to apply for a long-term site reservation for Plot 1 before the end of July 2023.

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