Finish utility company Fortum, German chemical company BASF, and Russian mining company Nornickel have signed a letter of intent to develop a battery recycling cluster in Harjavalta, Finland. The companies aim to promote the production and use of recycled raw materials in the EV battery market. BASF will use the recycled materials in its planned battery materials precursor plant in Harjavalta.

Tim Ingle, VP of Precious Metals Refining, Chemicals & Battery Recycling at BASF, said, “The combination of battery materials production and recycling enables the circular economy by closing the loop. To drive electrification, we are focused on bringing solutions for high-energy-density cathode active materials and high-efficiency lithium extraction for battery recycling.”

Tero Holländer, Head of Business Development at Fortum Recycling and Waste, said, “By recycling valuable metals in lithium-ion batteries, we reduce the environmental impact of electric car batteries by complementing the supply of cobalt, nickel, and other critical metals from primary sources.”

Source: Fortum