Press release 11.1.2022
Finnish company Grafintec Oy and Indian company Epsilon Advanced Materials have made a plot reservation and signed a Memorandum of Understanding with the City of Vaasa to establish an anode materials production facility in the GigaVaasa area.
”We are delighted that our battery value chain will be complemented as planned, and previously concluded agreements will attract new operators to the region. Synergy and environmental benefits are considerable”, says Tomas Häyry, the Mayor of Vaasa, with satisfaction.
Joint Venture in Charge of the Development Project
The joint venture of Grafintec Oy, a 100% owned Finnish subsidiary of Beowulf Mining, and Epsilon Advanced Materials, an Indian company, will take charge of the construction of the anode material plant in Vaasa. Beowulf Mining announced the Joint Venture agreement between Grafintec Oy and Epsilon Advanced Materials on 6 December 2021.
Beowulf Mining plc is listed on the AIM market of the London Stock Exchange and the Spotlight Exchange in Sweden. The company explores critical raw materials such as iron ore, graphite and base metals needed for the battery industry.