A second battery industry project for Keltakallio in Kotka – Grafintec reserves a plot for an anode material factory

1.7.2025 | Grafintec Oy has signed a land reservation agreement with the City of Kotka. The agreement concerns a 13-hectare plot in the Keltakallio industrial area and marks a significant step towards establishing a graphite anode material plant (GAMP) in Finland.

The land reservation grants Grafintec a fixed 12-month reservation period during which the company will advance, among other things, the assessment of environmental and social impacts in cooperation with the City of Kotka, Cursor Oy, and the authorities.

Grafintec Oy is a Finnish subsidiary fully owned by Beowulf Mining Plc, a British-Swedish company focused on the graphite anode material value chain.

In the first phase of the project, the investment is estimated at approximately EUR 225 million, employing about 85 people. The second phase expansion would raise the total investment to EUR 675 million and increase the number of jobs to around 250. During the construction phase, significant employment impact is also expected in the area, particularly for local contractors and service providers.

Keltakallio as Part of the Power Coast Vision

The selected plot is located just a short distance from the area where Easpring Finland New Materials began construction of a cathode material plant in April 2025. Grafintec’s project thus becomes the second battery industry investment in the Keltakallio area and a concrete step towards developing the Kotka-Hamina region into an international battery industry hub.

The Kotka-Hamina region offers competitive conditions for the battery industry. The area has comprehensive infrastructure, direct access to the Port of HaminaKotka, excellent logistical connections, and cost-efficient renewable energy and water for industrial use.

Strong Cooperation for the Benefit of the Region

“The land reservation for Grafintec Oy in Keltakallio is a concrete example showing that we have done things right in our region. The Power Coast concept and the area planned for the battery industry are attracting companies. This is a good starting point for continuing the development of the area together with Cursor and other companies within the Kotka Group,” says Esa Sirviö, Mayor of Kotka.

“The battery cluster being built in the Kotka-Hamina region is progressing with determination. We are extremely grateful for the trust Grafintec has shown in our region and I thank the company and other stakeholders involved in the project for their excellent work in making this step possible. This also demonstrates that our region plays a central role in achieving the goals of Finland’s battery strategy,” says David Lindström, CEO of Cursor Oy.

Grafintec is developing environmentally sustainable and cost-efficient processing technology based on renewable energy and processes using safe chemicals. The company’s goal is to build Europe’s leading independent anode material production facility to support the growth of the European battery industry.