Beowulf (AIM: BEM; Spotlight: BEO), and its wholly owned Finnish subsidiary Grafintec Oy (“Grafintec”) or (“Company”), is pleased to announce that the Company has been granted €232,000 by Business Finland. The grant funding of €232,000 is equivalent to 50 per cent of the 3-year €464,000 budget for Grafintec’s ‘Management and Valorisation of Waste Streams in the Coated Spherical Graphite Production Process’ project.
The proposed work undertaken by Grafintec is part of the BATCircle3.0 (Finland-based Circular Ecosystem of Battery Metals) consortium led by Aalto University, with funding of €13.4 million for the next three years, and is a key project in Business Finland’s Hydrogen & Batteries – Dual Helix of Decarbonisation programme. This BATCircle3.0 funding follows the grant received by Grafintec of €530,000 under the BATCircle2.0 programme which was completed in October (announcement dated 31 October 2024).
The aim of the project is to:
- Investigate opportunities for utilisation and valorisation of wastewater and other waste streams from the Graphite Anode Materials Plant (“GAMP”) production process;
- Carry out a Life Cycle Analysis (“LCA”) & Technical and Economic Analysis (“TEA”) of the process; and
- Investigate the viability of the process.