About us

Grafintec Oy is a Finnish mineral exploration and graphite technology development company established in 2012, active in research and development of graphite anode materials. The company is wholly owned since 2016 by the British-Swedish mineral exploration and development company Beowulf Mining plc.

Grafintec’s Strategy

Grafintec’s ambition is to create a sustainable value chain in Finland from high-quality natural flake graphite resources to downstream anode material production, leveraging Finland’s natural resources, including available renewable power, and targeting net zero CO2 emissions across the supply chain. The development of downstream capabilities is part of Grafintec’s strategy and the Company believes that partnerships with other companies, such as Hensen, are a key enabler to reduce development risk and get to market faster.

Fight against the climate change

The fight against climate change requires implementation of new technologies. The aim of Grafintec Oy is to test and to optimize new environmentally friendly and cost-effective processes to convert graphite material into high-quality anode material for lithium-ion batteries without using hazardous chemicals. The manufacturing of anode material in Finland would support Finland’s vision to be a frontrunner in the battery and electrification cluster in the world in 2025. Graphite is a raw material needed for the production of lithium-ion batteries and for cleantech solutions. Batteries are used among other things for the needs of expanding electric motoring, and currently, the focus of battery manufacturing is in Asia.


Grafintec Oy is member of the European Battery Alliance network (“EBA250”). The European Commission launched the European Battery Alliance in October 2017 to make Europe a global leader in sustainable battery production and use. The annual market value is estimated at €250 billion from 2025 onwards. For Europe, the establishment of a complete domestic battery value chain is imperative for a clean energy transition and a competitive industry.

Kurt Budge

Mr. Budge was appointed Chief Executive Officer of Beowulf Mining in October 2014 after joining the Company as a Non-Executive Director in September 2014.

Kurt has over 20 years’ experience in the mining sector, during which he spent five years as a Business Development Executive in Rio Tinto’s Business Evaluation Department, here he was engaged in mergers and acquisitions, divestments and evaluated capital investments. He has also been an independent advisor to junior mining companies on acquisitions and project development as well as a General Manager of Business Development for an AIM listed mining company, where he developed strategic growth and M&A options for iron ore assets. Kurt was Vice President of Pala Investments AG, a mining focused private equity firm based in Switzerland and has worked as a mining analyst in investment research.

During the earlier part of his career he held several senior operations and planning roles in the UK coal industry with RJB Mining (latterly UK Coal plc) and worked as a Venture Capital Executive with Schroder Ventures.

Kurt holds an M.Eng (Hons) degree in Mining Engineering from The Royal School of Mines, Imperial College London and an MBA from London Business School.

Rasmus Blomqvist
Managing Director, Grafintec Oy

Mr. Blomqvist, the founder of Grafintec, joined Beowulf in January 2016. Mr. Blomqvist has been working in exploration and mining geology for over 18 years and holds an MSc in Geology and Mineralogy from Åbo Akademi University, Turku Finland, and an Executive MBA from Aalto University Executive Education, Helsinki Finland.

Since 2012, Mr. Blomqvist has been exploring for flake graphite within the Fennoscandian shield and is one of the most experienced graphite geologists in the Nordic region. He has also over the years gained an extensive knowledge of the graphite anode materials value-chain. Prior to Grafintec, Mr. Blomqvist was Chief Geologist for Nussir ASA, managing its exploration team and achieving significant exploration success for the company.

Prior to Nussir, Mr. Blomqvist worked as an independent consultant for several international mining companies including Mawson Resources, Tasman Metals and Agnico Eagle and has experience in graphite, gold, base metals and iron ore, within the Nordic region.

Mr Blomqvist is a member of the Australasian Institute of Mining and Metallurgy (“MAusIMM”).

Sauli Raunio
Exploration Geologist

Mr. Raunio was appointed Exploration Geologist for Grafintec in July 2016. Mr. Raunio works on graphite project development and on different mineral exploration projects across Beowulf’s other subsidiary businesses in Finland and Sweden. He was previously a Research and Project Assistant at Åbo Akademi University before he joined Grafintec.

Mr. Raunio graduated in 2015. He has a Master’s Degree in Geology from Åbo Akademi University. His thesis title was ”Quality determination of flake graphite in Finland”. He also has a Batchelor’s Degree in Geology from Åbo Akademi University. His thesis title was ”Age determination of a fault zone in Olkiluoto”.