Talga snags $115M EU funding for its Swedish graphite anode refinery

Talga Group (ASX:TLG) has revealed its receipt of EU ‘innovation’ grant funding to develop its Swedish graphite anode refinery plant.

The short of it: The European Union wants more capacity to develop its own decarbonisation tech domestically; EVs are a large part of that, with Talga’s operations set to produce European EV battery anode materials to domestic customers from an onshore manufacturing capacity.

You could see it as one big story of right place, right time. Talga’s Luleå refinery is one part of its larger Vittangi graphite project, including mining operations, in Sweden’s north.

The grant is worth A$115M and Talga was among 85 other projects that, on paper, will assist the EU reach “net zero” goals. Talga now enters an administrative phase to get the grant over the line with everybody happy.

Management viewed the grant as proof of its project’s ESG credentials.

“The grant demonstrates the European Commission’s recognition of the quality of Talga’s project and its ability to support the EU’s innovation and decarbonisation goals,” company chief Martin Phillips said.

“The demand for anode material made with natural graphite, an EU critical and strategic raw material, to support Europe’s battery value chain is clearly highlighted in the success of the application.”

TLG last traded at 36.5cps.

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