Grafintec's growth vision is to deliver a Finnish graphite-based supply chain, that is sustainable, maximises resource conversion to final products, is low cost and delivers a strong economic value proposition to the country. To achieve this, Grafintec Oy, a 100% owned Finnish subsidiary of Beowulf Mining, and Epsilon Advanced Materials, an Indian company, have signed a Memorandum of Understanding (MoU) with the City of Vaasa for the establishment of an anode materials production facility to be located in the GigaVaasa area. The MoU follows the signing of a Joint Venture by Grafintec and Epsilon Advanced Materials. Grafintec's ambition is to refine and optimise state-of-the-art processes (spheronisation and thermal purification) for the conversion of natural flake graphite and secondary graphite resources e.g. recycled graphite into high quality lithium-ion battery grade anode materials. Being part of Business Finland funded battery consortiums like BATCircle 2.0 and BATTRACE, Grafintec will substantially contribute to development of a multi-billion € industry and create a supply chain for high value graphite that does not exist in Europe today. BATCircle 2.0 will test and optimise new environmentally friendly and cost effective processes for the conversion of graphitic materials into high quality lithium-ion battery anode material without the application of hazardous chemicals (i.e. hydrofluoric acid). The goal in BATTRACE is to enable growth and competitive edge for Finnish mining industry. The main research target is to develop technologies to sustainably produce the battery raw materials and to trace them along the battery value chain. As a result of this development work new business opportunities will be created for the Finnish battery metals sector for existing and new companies. The success of these projects would give Grafintec a potential competitive advantage in its ambition to provide the European battery industry with graphite anode materials.