Fortum Battery Recycling Oy and AMG Lithium GmbH have entered into a preliminary agreement and signed a memorandum of understanding regarding the recycling of lithium salts and refining them into battery-grade lithium hydroxide.
AMG Lithium GmbH, based in Germany is a subsidiary and part of the AMG Clean Energy Materials division of AMG Critical Materials N.V. The company is currently constructing a lithium hydroxide production plant in Bitterfeld, Germany, where the objective is to process the recycled lithium salts retrieved from Fortum's new hydrometallurgical recycling plant in Harjavalta, Finland.
"We are very excited to be cooperating with AMG Lithium on this important project. We were looking for a partner who shared our vision for the future and was as committed to sustainability and lowering their carbon footprint as we are - and we found that in AMG Lithium" says Fortum's Tero Holländer, Head for Battery business line, Fortum Battery Recycling.
"The agreement with AMG is also a great testament to the significance of our newly opened Harjavalta plant for the European battery recycling industry, highlighting the increased need for recycled battery materials and demand for new efficient and sustainable solutions. Through this co-operation Fortum is the first company that can offer true European closed loop solution for automotive and battery industry" Holländer continues.
Fortum's all new commercial scale hydrometallurgical plant in Harjavalta is able to efficiently recover valuable metals from old electric vehicle lithium-ion batteries while also recycling various waste fractions derived throughout the battery supply chain. According to the signed MoU, the recovered lithium product recovered by Fortum will be delivered to AMG Lithium for further processing.
Together, Fortum Battery Recycling and AMG Lithium aim to improve the entire battery recycling chain, contribute to reducing its CO2 footprint, and reduce the European battery value chains dependency on raw material imports.
"This MOU represents another important step towards an independent and sustainable lithium supply chain for Europe," said Dr. Stefan Scherer, CEO of AMG Lithium GmbH. "We are looking forward to working together with Fortum in order to de-carbonize and improve the battery recycling lithium supply chain in Europe."
Further information:
Tero Holländer, Head of Business Line, Batteries, Fortum Battery Recycling, tero.hollander@fortum.com, tel. +358 40 861 5071
Frank Stumpf, Operations Director, Fortum Battery Recycling, frank.stumpf@fortum.com, tel. +49 152 28 44 97 62
Michele Fischer, AMG Critical Materials N.V., tel. +1 610 975 4979, mfischer@amg-nv.com
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
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.
About AMG
AMG's mission is to provide critical materials and related process technologies to advance a less carbon-intensive world. To this end, AMG is focused on the production and development of energy storage materials such as lithium, vanadium, and tantalum. In addition, AMG's products include highly engineered systems to reduce CO2 in aerospace engines, as well as critical materials addressing CO2 reduction in a variety of other end use markets.
With approximately 3,600 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer service offices in Japan (www.amg-nv.com).
