The European Investment Bank (EIB) allocated financing by the Estonian company UP Catalyst, specializing in the production of synthetic graphite and multi -layer carbon nanotubes, reports Posteimees.
Thanks to this support, the company plans to significantly increase production by the end of 2027.
According to the statement of the General Director of Raitsa Kuusk, the EIB investment will become an important strategic stage in the development of Up Catalyst.
“Financing of the European Investment Bank is a strategic line. It directly supports our mission to solve the problem of growing graphite deficiency, which is critical raw materials for both the EU and the USA, South Korea and Japan,” said Kuussk.
In addition to increasing production capacities, investments will allow the company to reduce the cost of products due to the scalability of processes.
According to Kuusk, this will increase the economic efficiency and competitiveness of products in the world market.
– Why do you need synthetic graphite?
Synthetic graphite and carbon nanotubes play a key role in the production of batteries for electric vehicles, energy storage systems, as well as in the aerospace and electronic industries.
The demand for these materials in the world is growing rapidly against the background of a global transition to a low carbon economy.