Talga Group has been awarded a €70 million ($114.4 million) grant from the EU Innovation Fund for its Lulea Anode Refinery project in Sweden. The funding is part of the European Commission’s initiative to support 85 innovative net-zero projects aimed at advancing clean technologies across Europe.
The EU Innovation Fund is distributing a total of €4.8 billion in grants, attracting 337 applications in this round. CEO Martin Phillips emphasized that the grant reflects the quality of Talga’s project and its alignment with the EU’s decarbonization and innovation objectives.
“The strong demand for natural graphite anode material—an essential raw material for Europe’s battery value chain—underscores the significance of our successful application,” he stated.
The Luleå Anode Refinery is integral to Talga’s Vittangi Anode Project, a fully permitted, vertically integrated initiative in northern Sweden. The refinery is set to produce 19,500 tonnes per annum of Talnode-C, a low-emission natural graphite anode material, sufficient for about 270,000 electric vehicles or 16 gigawatt-hours of battery capacity. Talga’s anode material boasts up to 92% lower CO2 equivalent emissions compared to currently imported alternatives in Europe.
In addition, Talga recently received approval for the exploitation concession of its Nunasvaara South natural graphite mine, allowing for 25 years of mining activities, with options for extensions. The company plans to make a final investment decision once it secures key mine permits and advances customer offtake agreements.
