Two strategic projects in ElvalHalcor’s copper division have received significant recognition at European level in the field of recycling, following the completion of their assessment under the Innovation Fund 2025 Net-Zero Technologies Call.
Sofia Med’s Sofia Med SVAROG - Next-Generation Copper Recycling Hub project passed the assessment stage and was invited to prepare a grant agreement, while Halcor’s ETEOCLES - Innovative Copper Recycling Hub received a positive assessment and was added to the reserve list.
Both projects have also received the STEP Seal from the European Commission, an official quality label awarded to proposals that contribute to the objectives of the Strategic Technologies for Europe Platform (STEP) initiative and facilitate their access to funding opportunities under European programmes covered by STEP.
The SVAROG Next-Generation Copper Recycling Hub, which concerns Sofia Med and forms part of the company’s investment plan announced during ElvalHalcor’s capital increase in July 2026, passed the assessment stage in the Small-Scale Projects category and was invited to prepare a grant agreement.
The project involves an investment of about €20 million. The final funding decision will be made after the agreement preparation and the required checks have been completed.
The project involves developing a next-generation copper recycling hub at subsidiary Sofia Med’s facilities, capable of processing complex grades of copper scrap and producing high-purity recycled copper.
In this way, SVAROG will increase the use of secondary raw materials and promote circularity in copper production.
Halcor’s ETEOCLES - Innovative Copper Recycling Hub received a positive assessment and was placed on the reserve list in the Medium-Scale Projects category. Inclusion on the reserve list means the project may be invited to prepare a Grant Agreement.
ETEOCLES предусматривает the development of an industrial-scale copper recycling hub in Oinofyta, with the aim of producing more than 50,000 tonnes of recycled, high-purity copper a year. The project’s total CAPEX is estimated at about €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).
Together with the STEP Seal, this development highlights the project’s strategic role in strengthening Europe’s copper value chain and its ability to make more effective use of secondary raw materials.
The recognition of ETEOCLES and SVAROG confirms ElvalHalcor’s strategic commitment to a production model that combines advanced industrial technology with recycling, more efficient use of resources and the circular economy.
The two projects further strengthen the role of the company’s copper division in efforts to boost Europe’s industrial resilience, competitiveness and strategic autonomy.