Business
JV HoT Signed for Anode Materials Production
JV HoT Signed for Anode Materials Production.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5917U\n Beowulf Mining PLC\n 06 December 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 \n 6\n \n \n \n December 2021\n \n \n \n Beowulf Mining plc\n \n \n (\"Beowulf\" or the \"Company\")\n \n \n Joint Venture Heads of Terms Signed for Anode Materials Production in Finland \n \n \n \n \n \n Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to announce that its 100 per cent owned Finnish subsidiary Grafintec Oy (\"Grafintec\") and Epsilon Advanced Materials Private Limited (\"Epsilon Advanced Materials\"), a subsidiary of Epsilon Carbon Private Limited, have signed a Joint Venture (\"JV\") Heads of Terms for the establishment of an anode materials production facility to be located in Finland. \n \n \n It is intended that the proposed plant will supply battery/cell manufacturing companies in Europe, complementing \n Epsilon Advanced Materials' \n growing anode materials business in India.\n \n The plant will be built in two phases, Phase 1 with a production capacity of 10,000 tonnes per annum (\"TPA\") and Phase 2 which will add 40,000 TPA, taking overall plant capacity to 50,000 TPA of anode material.\n \n \n During the summer this year, Grafintec was granted funding by Business Finland as part of the BATCircle2.0 (Finland-based Circular Ecosystem of Battery Metals) consortium. BATCircle2.0 is a key project in Business Finland`s Smart Mobility and Batteries from Finland programmes. As a critical first step, this grant funding will be used by Grafintec to develop a Bankable Feasibility Study for the plant in Finland, including a detailed strategic marketing and commercialisation plan, based on a comparable plant being developed by Epsilon Advanced Materials in India.\n \n \n Under the JV, Grafintec (which will own 49% of the JV) and Epsilon Advanced Materials (which will own 51% of the JV) will work together on the study with th...