• The European Commission selected 47 strategic projects to strengthen Europe’s raw materials value chain, with UP Catalyst being the only selected project from the Baltics.

• These projects will receive coordinated support, including easier access to funding, streamlined permitting provisions, and connections with key off-takers, to accelerate operations.

Tallinn, Estonia – 27 March 2025 – The European Commission has selected UP Catalyst’s CO₂Graphite project as one of 47 Strategic Projects under the Critical Raw Materials Act (CRMA), marking a major milestone in Europe’s efforts to secure a sustainable and independent supply of raw materials. UP Catalyst is the only Baltic project on the list and one of just eleven selected for graphite.

The CO₂Graphite project pioneers the production of sustainable, battery-grade graphite from CO₂ emissions using Molten Salt Carbon Capture and Electrochemical Transformation (MSCC-ET). By replacing fossil-based graphite with a domestically sourced sustainable alternative, the project directly supports the EU’s 2030 goals of diversifying supply, reducing dependence on non-EU imports, and advancing climate targets. UP Catalyst aims to scale production to 60,000 tons of battery-grade graphite annually by 2030, helping meet the growing demand for electric vehicle (EV) batteries and renewable energy storage solutions. With letters of intent and preliminary agreements secured from key EU-based battery and composite manufacturers, the project is well-positioned to contribute to Europe’s raw materials independence.

“Being recognised as a Strategic Project by the European Commission is a major milestone for both UP Catalyst and Estonia,” said Rait Maasikas, CFO of UP Catalyst. “The decision validates not only the importance of locally produced raw materials but also the role of sustainable alternatives to fossil-based raw materials. This designation strengthens UP Catalyst’s ongoing discussions with investors and off-takers, helping accelerate large-scale deployment.”

As a Strategic Project, UP Catalyst will benefit from coordinated support from the European Commission, member states, and financial institutions, including easier access to funding, streamlined permitting, and strengthened connections with key offtakers.

Background information

The EU’s Critical Raw Materials Act

The Critical Raw Materials Act (CRMA) took effect on 23 May 2024, strengthening Europe’s raw materials supply chain. On the same day, the European Commission launched a call for Strategic Project proposals. Applications considered complete were assessed by the Commission with the support of external experts to check whether the projects meet relevant criteria under the CRMA. Based on this assessment, the Commission identified a list of projects for the extraction, processing, recycling or substitution of strategic raw materials. The Commission consulted the Critical Raw Materials Board, composed of Member States, and the European Parliament as an observer, to discuss and adopt an opinion on the list of Strategic Projects. Selected projects will receive priority support, including easier financing, streamlined permitting, and supply chain integration. The CRMA aims to reduce EU dependence on imports by ensuring that by 2030, at least 10% of raw materials are extracted, 40% processed, and 25% recycled domestically, supporting Europe’s green, digital, and industrial resilience.