Business
Fennoscandian receives Business Finland funding
Fennoscandian receives Business Finland funding.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3937B\n Beowulf Mining PLC\n 10 June 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (\"MAR\") (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n \n \n \n 10 June 2021\n \n \n Beowulf Mining plc\n \n \n (\"Beowulf\" or the \"Company\")\n \n \n Fennoscandian Resources receives €791,000 additional funding from Business Finland\n \n \n \n \n \n Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to announce that Beowulf`s wholly-owned Finnish subsidiary Oy Fennoscandian Resources Ab (\"Fennoscandian\") has been granted €791,000 by Business Finland.\n \n \n The grant funding is equivalent to 50 per cent of the 3-year €1.6 million budget for Fennoscandian's 'Spheronisation and Purification of Natural Graphite for the European Lithium-Ion Battery Market' project. \n \n \n This work is part of the BATCircle2.0 (Finland-based Circular Ecosystem of Battery Metals) consortium which has been granted €10.8 million by Business Finland as part of a total funding budget of €19.3 million. BATCircle2.0 is a key project in Business Finland`s Smart Mobility and Batteries from Finland programmes.\n \n \n Finland has high-quality natural flake graphite resources and the opportunity exists to create a sustainable value chain for anode material markets in Finland and Europe. Currently, China is the dominant producer of spheronised graphite, utilising chemical purification and using hazardous hydrofluoric acid. \n \n \n The objectives of the project are to develop a chemical free technological solution, utilising renewable energy, to spheronise and purify graphite within a Finnish industrial ecosystem, for use in the manufacture of lithium-ion battery anodes. \n \n \n The project has three main objectives, which are to: \n \n \n · \n Validate a process to support progress to a Bankable Feasibility Study for construction of a commercial scale unit within three to five years.\n \n \n · \n Secure and protect any arising intellectual property.\n...