Beowulf Mining PLC on Friday said its subsidiary Granfintec Oy has partnered with Thermal & Material Engineering Center on a sustainable graphite purification technology.

Beowulf Mining is a London-based mining company with iron ore, graphite, gold and base metal projects in Sweden, Finland and Kosovo.

Beowulf said Grafintec signed a memorandum of understanding with TMEC to establish a purification technology which eliminates hazardous chemicals when purifying graphite, while consuming less energy in the process.

The companies will collaborate on the supply under licence of the commercial technology services, the provision of commercial testing and the supply of engineering and design activities for the technology for graphite producers.

Grafintec will own 51% of the joint venture, while TMEC will own 49%.

Grafintec and TMEC will apply the technology to both natural flake and secondary sources of graphite, in Grafintec’s graphite anode materials plant in the GigaVaasa area in Finland.

Shares in Beowulf Mining were up 6.2% at 2.15 pence each in London on Friday morning.

Copyright 2023 Alliance News Ltd. All Rights Reserved.