REG - Beowulf Mining PLC - Consortium secure conditional €1.1m EIT funding

Beowulf MiningAnnouncement

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RNS Number : 0362X  Beowulf Mining PLC  18 March 2026

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018 (as amended). Upon the publication of this announcement
this inside information is now considered to be in the public domain.

 

 

18 March 2026

 

 

Beowulf Mining plc

 

("Beowulf" or the "Company")

 

Jokkmokk Iron and partners secure conditional €1.1m EIT funding
for €2.4m NordicPipe project

 

Beowulf (AIM: BEM; Spotlight: BEO), and its wholly-owned subsidiary Jokkmokk
Iron Mines AB ("Jokkmokk Iron"), are pleased to announce that a consortium led
by Jokkmokk Iron has been conditionally awarded funding of €1.1 million from
the European Institute of Innovation and Technology ("EIT") as part of the
€2.4 million NordicPipe project ("NordicPipe"). This funding is to be
provided under the EIT RawMaterials KAVA Call 13 - Upscaling programme.

 

NordicPipe is a collaborative innovation project that builds on work already
completed by the Company with support from a number of its partners. The
project's objective is to advance technical and environmental knowledge, that
will enable the development and roll-out of slurry pipelines as a sustainable
transportation solution in the Nordic region. Slurry pipelines are widely used
by the global mining industry, delivering sustainability benefits by reducing
impacts on existing infrastructure, local communities and the environment, but
have yet to be adopted within the Nordic region. NordicPipe, with EIT's
support for the project, has the opportunity to make this a reality and
advance Jokkmokk Iron's pipeline towards full development.

 

Highlights

 

·      Conditional award of €1.1 million to a consortium led by
Jokkmokk Iron as part of the EIT Raw Materials support for the €2.4 million
NordicPipe innovation project

·      Two-year project focused on the development of the slurry
pipeline within the Nordic region, taking technical, and local environmental
and social factors into consideration

·      A consortium spanning industry, engineering, academia,
and communication led by Jokkmokk Iron and including:

·      Paterson & Cooke Ltd;

·      Sweco Sverige AB;

·      Luleå University of Technology;

·      FormSmedjan AB; and

·      A regional industry partner

·      Ambition to develop first-of-its-kind long-distance slurry
pipeline suited for Nordic conditions

·      Developing a replicable model for sustainable mining
infrastructure in environmentally and socially sensitive regions and
supporting European self-sufficiency and resilient raw material
supply chains

·      Award subject to conditions including signing of final project
agreement

 

Ed Bowie, Chief Executive Officer of Beowulf, commented:

 

"I am delighted that we have been successful in the awarding of the  EIT Raw
Materials funding and we can embark on the next phase of the pipeline
development. I am looking forward to working alongside such a strong
consortium, not only to further the work at Jokkmokk but to provide a benefit
to the wider Nordic region. Jokkmokk Iron identified the pipeline as our
preferred transport option from the Kallak mine site to the railhead, and with
this funding we will be able to materially advance the technical,
environmental and social work required for its permitting and deployment.

 

"I would like to thank the full Jokkmokk and Beowulf team for their efforts in
delivering this successful application together, utilising the feedback from
our previous two applications, and strengthening the consortium, in a process
that can be complex and take considerable time and effort."

 

EIT RawMaterials KAVA Call 13

 

The European Institute for Innovation and Technology, EIT, is a European Union
funded organisation with the objective of harnessing innovation across Europe.
The EIT RawMaterials division recognises the need to create greater resilience
within the European raw material supply chains necessary to support
sustainability and is focused in fostering growth and investment
attractiveness for the European raw materials sector through innovation,
education and strategic advisory. Its activities focus on three key areas:
closing material loops, securing raw materials supply, and designing
sustainable materials solutions.

 

The KAVA Call 13 - Upscaling programme is an EIT RawMaterials funding
programme focused on Upscaling, Regional Innovation Scheme (RIS) Innovation,
and Capacity Building. Knowledge and Innovation Community (KIC) Added-Value
Activities (KAVA), are projects  and activities carried out by a Knowledge
and Innovation Community that are funded (either fully or partially) by the
EIT. EIT KICs are Europe-wide networks focused on addressing specific societal
challenges, ranging from sustainable energy and climate change to healthy food
and green transport. They are consortia of higher education institutions;
research centres; businesses and investors; and public and non-profit
organisations.

 

EIT RawMaterials ran four separate KAVA 13 calls during 2025 with the
objective of accelerating the launch of promising new technologies, products,
and services in the raw materials industry. It targets projects with validated
technologies that require additional steps to attain market readiness. with
Jokkmokk Iron and its partners submitting applications in the latter three
with the final application being successful. Feedback from the two preceding
calls enabled Jokkmokk Iron to strengthen the consortium to enhance its
application. The successful €2.4 million proposal will receive €1.1
million in funding from EIT RawMaterials with the balance funded through
direct disbursements and through in-kind (time allocated) costs. The EIT
support requires a partial repayment mechanism with the NordicPipe proposal of
50% of the funding to be repaid to EIT from commercial deployment of the
pipeline with a modest rate of return. The EIT funding remains subject to a
number of administrative and clarification points, adopting a number of
recommendations within the project scope and signing the project agreement.

 

NordicPipe project

 

The two-year project will focus on the design and development of a
state-of-the-art long-distance slurry pipeline tailored to transport mineral
ores specifically in Nordic conditions. As Europe seeks to strengthen
self-sufficiency in critical raw materials, the project addresses the growing
need for resilient, efficient, and sustainable transport solutions as demand
increases and existing infrastructure comes under pressure.

 

NordicPipe will enable the efficient transport of magnetite concentrate while
reducing environmental impact and alleviating permitting and socio-economic
challenges associated with conventional transport alternatives. The pipeline
system will be engineered to perform reliably under both normal and extreme
operating conditions, including sub-zero temperatures, complex soil
conditions, and glacial and post-glacial terrains.

 

Key technical activities within the project include detailed rheological
testing of slurry, comprehensive geotechnical investigations to identify
construction challenges, and the development of robust engineering solutions
for road and bridge crossings as well as installations in populated areas. In
parallel, the project will address permitting, environmental, and social
considerations to ensure regulatory compliance.

 

The project's outputs will include a complete strategy for route selection,
material and slurry testing, pumping and piping design, and construction
principles. In addition, NordicPipe will deliver detailed capital and
operating expenditure estimates to support long-term cost efficiency. It is
anticipated that this work will exceed the requirements for a Feasibility
Study. In addition, a demonstration facility will be established in a
cold-climate environment , incorporating advanced instrumentation, data
collection, and performance analysis.

 

To support transparency and knowledge sharing, a documentary will be produced
by FormSmedjan, the communications agency involved in the consortium, to
communicate the progress, learnings, and outcomes of the project to
stakeholders and the wider public.

 

The objective of the NordicPipe project is to deliver a safe, environmentally
sound, and cost-effective transport solution for iron ore concentrate.
Importantly, it is designed to serve as a replicable model for sustainable
mining infrastructure across the Nordic region and other environmentally and
socially sensitive areas.

 

The consortium is enthusiastic about the opportunity, with project work
commencing imminently.

 

Consortium

 

Jokkmokk Iron is the project lead and will have overall responsibility for
managing the project.

 

Paterson & Cooke Ltd is an international specialist engineering firm with
leading expertise in the design and operation of long-distance slurry pipeline
systems for the mining industry. The company also has additional global
expertise in mine backfill, tailings management, mineral processing and
operates its own laboratory test work facilities. Paterson & Cooke will
lead the technical and engineering workstreams for the project.

 

Sweco Sverige AB is one of Europe's leading design, engineering, environment
and regulatory consultancies. The company will provide Nordic-specific support
including a focus on site specific engineering, construction principles and
bridge passages.

 

Luleå University of Technology (LTU) is a research-intensive institution with
nearly 21,600 students and 1,800 employees in 2025. Renowned for strong
industry collaboration, it offers over 200 programs focusing on sustainable
energy, AI, space technology, and engineering. The university operates
campuses in Luleå, Kiruna, Piteå, and Skellefteå in northern Sweden. The
university will be responsible for studying implications of freezing and
thawing conditions on slurry pipeline behaviour.

 

FormSmedjan is a communications agency based in Boden in northern Sweden. The
company adopts a strategic approach to communication and will be responsible
for systematic communication and production of a documentary featuring slurry
pipeline development

 

A regional industry partner is also involved in the project.

 

 

Enquiries:

 

Beowulf Mining plc

Ed Bowie, Chief Executive Officer
                ed.bowie@beowulfmining.com

 

SP Angel

(Nominated Adviser & Joint Broker)

Ewan Leggat / Stuart Gledhill / Adam Cowl
                Tel: +44 (0) 20 3470 0470

 

Alternative Resource Capital

(Joint Broker)

Alex
Wood
Tel: +44 (0) 20 4530 9160

 

BlytheRay

Megan Ray / Rachael
Brooks
                Tel: +44 (0) 20 7138 3204

 
beowulf@blytheray.com

 

 

Cautionary Statement

 

Statements and assumptions made in this document with respect to the Company's
current plans, estimates, strategies and beliefs, and other statements that
are not historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are not
limited to, those using words such as "may", "might", "seeks", "expects",
"anticipates", "estimates", "believes", "projects", "plans", strategy",
"forecast" and similar expressions. These statements reflect management's
expectations and assumptions in light of currently available information. They
are subject to a number of risks and uncertainties, including, but not limited
to , (i) changes in the economic, regulatory and political environments in the
countries where Beowulf operates; (ii) changes relating to the geological
information available in respect of the various projects undertaken; (iii)
Beowulf's continued ability to secure enough financing to carry on its
operations as a going concern; (iv) the success of its potential joint
ventures and alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results could differ
materially from those presented and forecast in this document. Beowulf assumes
no unconditional obligation to immediately update any such statements and/or
forecast.

 

 

 

 

 

 

 

 

 

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