Epsilon Advance Material (EAMPL), a subsidiary of Epsilon Carbon, signed a Memorandum of Understanding (MoU) with Beowulf Mining plc to set up a Joint Venture(JV) company in Finland.
Objective:
- The main objective of this JV is to become a prominent player in the European Lithium-ion Battery ecosystem
- And to become a potential future supplier of the raw materials that Finland and Europe need for manufacturing lithium-ion batteries
Key points:
i.The MoU acts as a formal market entry vehicle for Epsilon for supplying anode material into Europe by firmly establishing itself in Finland
ii.A strategic processing hub for both natural flake and recycled graphite will be jointly developed by Epsilon and Beowulf in Finland.
iii.The downstream capability of Oy Fennoscandian Resources AB, a wholly-owned subsidiary of Beowulf will be enhanced with the help of this partnership
iv.Beowulf Mining is pursuing a strategy to develop a resource and production base of natural flake graphite that can provide ‘security of supply’ through its graphite business, Fennoscandian Resources
v.It is aimed at helping Finland to achieve its ambition of self-sufficiency in battery manufacturing.
About Beowulf Mining:
Beowulf Mining plc is an exploration and development company, listed on the AIM market of the London Stock Exchange and the Spotlight Exchange in Sweden.
Chief Executive Officer: Kurt Budge
Headquarters: London,United Kingdom
About Epsilon Advance Materials Pvt Ltd (EAMPL):
EAMPL ,subsidiary of Epsilon Carbon,has been formed to develop and manufacture innovative, high performance and quality carbon products for anode components of lithium-ion Batteries (LIB).
Managing Director(MD): Vikram Handa
Headquarters: Mumbai,Maharashtra
