By Dominic Chopping
Finnish state-controlled utility company Fortum Oyj said Thursday that it will expand its lithium-ion battery recycling capacity by investing around 24 million euros ($29 million) to build a new hydrometallurgical plant in Harjavalta, Finland.
The new facility will enable recovery of scarce metals such as lithium, nickel, cobalt, and manganese from old electric vehicle lithium-ion batteries, while also recycling waste derived throughout the battery supply chain, it said.
"The new facility in Harjavalta will create approximately thirty jobs in the near future, but its impact will be felt throughout Europe as it will be the largest facility in the market of its kind once completed," said Kalle Saarimaa, Vice President of Fortum Recycling & Waste.
Fortum disassembles lithium-ion batteries and treats them at its plant in Ikaalinen. The battery's black mass, containing critical metals, is collected and taken to Harjavalta for hydrometallurgical processing.
The new facility to be built, which is expected to begin operations in 2023, will enable a significant increase in Fortum's processing and recycling capacity, enabling it to recycle the major part of electric vehicle batteries reaching their end-of-life in Europe, it said.
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(END) Dow Jones Newswires