Sustainability News
SVAROG, a project of subsidiary Sofia Med, has been selected for funding, while ETEOCLES, a project of Halcor, ElvalHalcor’s copper and alloys extrusion division, has been included in the reserve list of the European call
Two strategic copper recycling projects of ElvalHalcor’s copper segment have achieved significant recognition at the European level following their evaluation under the Innovation Fund 2025 Net-Zero Technologies Call. SVAROG - Next-Generation Copper Recycling Hub, developed by subsidiary Sofia Med, successfully passed the evaluation stage and has been invited to enter the Grant Agreement Preparation process, while ETEOCLES - Innovative Copper Recycling Hub, developed by Halcor-ElvalHalcor’s copper and alloys extrusion division, received a positive evaluation and was placed on the reserve list.
Both projects were also awarded the STEP Seal by the European Commission, the official quality label granted to proposals that contribute to the objectives of the Strategic Technologies for Europe Platform (STEP). The seal facilitates access to funding opportunities under European programmes covered by the STEP initiative.
SVAROG - Next-Generation Copper Recycling Hub, which concerns Sofia Med and forms part of the company's investment plan announced during ElvalHalcor’s share capital increase in July 2026, successfully passed the evaluation process within the Small-Scale Projects category and has been invited to enter the Grant Agreement Preparation process. The project represents an investment of approximately €20 million. The final funding decision will be taken following the completion of the grant agreement preparation process and the relevant due diligence procedures.
The project involves the development of a next-generation copper recycling hub at the facilities of subsidiary Sofia Med, capable of processing complex categories of copper scrap and producing high-purity recycled copper. SVAROG strengthens the use of secondary raw materials and promotes circularity in copper production.
ETEOCLES - Innovative Copper Recycling Hub, developed by Halcor, received a positive evaluation and was ranked on the reserve list of the Medium-Scale Projects category. Inclusion on the reserve list means that the project may subsequently be invited to enter the Grant Agreement Preparation process.
ETEOCLES involves the development of an industrial-scale copper recycling hub in Oinofyta, with the objective of producing more than 50,000 tones of high-purity recycled copper annually. The project’s total CAPEX is estimated at approximately €60 million.
The European recognition of ETEOCLES carries additional strategic significance, as the project has also been recognised under the Critical Raw Materials Act (CRMA). Combined with the STEP Seal, this development highlights the project’s strategic importance in strengthening Europe’s copper value chain and enhancing the continent’s ability to make more effective use of secondary raw materials.
The distinction achieved by both ETEOCLES and SVAROG confirms ElvalHalcor’s strategic commitment to a production model that combines advanced industrial technology with recycling, more efficient resource utilisation, and the principles of the circular economy. The two projects further reinforce the role of the company’s copper segment in supporting Europe’s industrial resilience, competitiveness, and strategic autonomy.
