Fortum, BASF and Nornickel have signed a letter of intent to plan a battery recycling cluster in Harjavalta in Finland, serving the electric vehicle market. This would enable a successful closed loop cycle to re-use the critical metals present in used batteries. Using metals from recycled batteries to produce battery materials offers significant CO2 reduction in the production of electric vehicles. Additional CO2 reduction can be achieved by using electricity from renewable sources in Finland for the recycling process.
BASF intends to use recycled materials from the processes developed by the companies within this cooperation in its planned battery materials precursor plant in Harjavalta in Finland.
The parties aim to foster the production and use of responsibly produced recycled raw materials in the battery market.