UP Catalyst Oulu Graphite & Carbon Nanotube Facility

UP Catalyst, an Estonian deep-tech company headquartered in Maardu, is planning its first large-scale commercial production facility at the Oulu Industrial Park in Oulu, northern Finland. The plant will produce battery-grade graphite and carbon nanotubes from captured CO₂ using UP Catalyst's proprietary Molten Salt Carbon Capture and Electrochemical Transformation (CO₂ molten salt electrolysis) technology. The facility is sized to produce approximately 20,000 tonnes of graphite and carbon nanotubes per year. CO₂ feedstock would be supplied from one of Oulun Energia's facilities in Oulu under a Letter of Intent signed on June 10, 2026. The project is in the planning phase, with construction targeted to begin before the end of the decade and operations targeted for the early 2030s (early 2031s). Business Finland granted UP Catalyst a EUR 47 million tax credit in early 2026 under Finland's investment credit scheme for large climate-neutral economy investments, supporting the planned Finnish expansion. UP Catalyst is designated a Strategic Project under the EU Critical Raw Materials Act. Invest in Finland (part of Business Finland) facilitated the site selection and Finnish entry.