Fortum Battery Recycling, Europe's leading battery recycler, has received a grant of 4.5 million euros from Business Finland to develop its recycling facility in Ikaalinen, Finland. Fortum Battery Recycling aims to expand the mechanical processing capacity of the plant and thus also improve the operations of the hydrometallurgical plant in Harjavalta.
Fortum Battery Recycling aims to invest in a new kind of mechanical shredder and related water and gas management equipment at the battery recycling facility in Ikaalinen. The funding from Business Finland enables Fortum to be the first one to enter the market and ensures a sufficient market share by moving quickly.
"We are delighted to have support from Business Finland for this important project. Meeting the increasing demand for recycled battery materials in the future will require more efficient processes, and this investment will help us do just that. We have unique expertise in this type of technology in Europe, which makes us the forerunners of battery recycling - a position we are proud to have," says Tero Holländer, Head of Business Line, Batteries, Fortum Battery Recycling.
It is crucial to secure a steady stream of high-quality black mass to Fortum's hydrometallurgical facility in Harjavalta. The annual capacity of the planned investment is 5,000 tonnes of EV batteries, which would increase production capacity and enable the production of black mass better suited for the hydrometallurgical process. The new improved process would also enable a better recovery rate of black mass, metals, and plastics, as well as improve process safety and decrease the plant's environmental impact by producing less waste.
The process improvement will also help to achieve EU's stricter recycling rate target and has received funding from the European Union's NextGenerationEU from Finland's sustainable development programme. The project will promote Finland as the forerunner of sustainable solutions in the battery industry, support the implementation of the national battery strategy, and bolster the growing battery cluster in Finland, while also strengthening the supply chain of critical raw materials in Finland and Europe.
Further information:
Tero Holländer, Head of Business Line, Batteries, Fortum Battery Recycling , tero.hollander@fortum.com, tel. +358 40 861 5071
Maiju Daniel-Huhtaniska, Communications & Marketing Manager, Fortum Recycling & Waste, maiju.daniel-huhtaniska@fortum.com, tel. +358 50 350 2861
Fortum Battery Recycling
Fortum Battery Recycling is part of the Fortum portfolio. Fortum Battery Recycling is a specialist in recycling of valuable metals in ev batteries. It's low-CO2 battery recycling solution makes it possible to recycle over 80% of the battery with 95% of the valuable metals contained in the battery's black mass to be put back into circulation. fortum.com/batteryrecycling
Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com
