Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Finland
  4. Nasdaq Helsinki
  5. Fortum Oyj
  6. News
  7. Summary
    FORTUM   FI0009007132

FORTUM OYJ

(FORTUM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Fortum Oyj : makes new Harjavalta recycling plant investment to expand its battery recycling capacity .

06/17/2021 | 01:06am EDT

FORTUM CORPORATION PRESS RELEASE 17.6.2021

Fortum has made the investment decision to expand its lithium-ion battery recycling capacity by building a new state-of-the-art hydrometallurgical plant in Harjavalta, Finland. The investment, marked at ca. EUR 24 million, will be a major step in increasing Fortum's hydrometallurgical recycling capacity and enabling the production of sustainable battery chemicals. The new facility will be able to efficiently recover scarce metals from old electric vehicle lithium-ion batteries while also recycling various waste fractions derived throughout the battery supply chain.

Lithium-ion batteries play a key role in enabling the transition to clean energy and the growth of e-mobility. With the rapid electrification of transportation and the move towards renewable energy sources, the demand for lithium-ion batteries is expected to grow more than ten-fold by 2030, significantly increasing the need for critical metals used in the production of lithium-ion batteries. Fortum's new Harjavalta facility will help to meet the rising demand for recycled battery materials and enable the sustainable recovery of lithium, nickel, cobalt, and manganese, which are all essential in the manufacturing of new electric vehicle batteries.

'Fortum is investing in a greener future by further investing in its hydrometallurgical recycling facilities. 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,' says Kalle Saarimaa, Vice President, Fortum Recycling & Waste. 'Our solid offering covers several key segments of the battery value chain and we look forward to our collaboration with key players in those fields. As the electrification of transportation gathers pace, the raw materials gap faced by the automotive industry is increasingly becoming a serious challenge. Our new facility will strongly support the existing Finnish and European battery manufacturing ecosystems, but it will also help the entire industry produce more sustainable batteries in Europe.'

Fortum uses a combination of mechanical and low-CO2 hydrometallurgical technologies to recycle the batteries as sustainably as possible and with the lowest carbon footprint. The lithium-ion batteries are first disassembled and treated during a mechanical process at Fortum's plant in Ikaalinen. The battery's black mass, containing critical metals, is collected and then taken to Harjavalta for hydrometallurgical processing.

Fortum is currently operating an industrial-scale hydrometallurgical pilot plant in Harjavalta. The new facility to be built, which is expected to be operating in 2023, will enable a significant increase in Fortum's processing and recycling capacity. The new plant will enable Fortum to recycle the major part of the EV batteries reaching their end-of-life in Europe.'

In March, Fortum's hydrometallurgical battery recycling operations were identified as one of four Fortum projects to be shortlisted for the EU's Innovation Fund for low-carbon technologies. The four Fortum projects made it through to a shortlist of 70 candidates for financing from the EU's EUR 1 billion first Innovation Fund. Fortum has also received IPCEI (Important Project of Common European Interest) grants from Business Finland in conjunction with the EU Commission's European Battery Innovation project. The grants were given in conjunction with the development of Fortum's mechanical recycling plant in Ikaalinen, Finland and the hydrometallurgical recycling plant in Harjavalta.

Fortum Corporation
Communications

Further information:

Simon Barrette, Communications & Marketing Manager, Fortum Recycling & Waste, tel. +358 40 728 9477, simon.barrette@fortum.com

Kalle Saarimaa, Vice President, Fortum Recycling & Waste, tel. +358 41 503 1337, kalle.saarimaa@fortum.com

Tero Holländer, Head of Business Line Batteries, Fortum Recycling & Waste, tel. +358 40 861 5071,tero.hollander@fortum.com

Read our latest battery related news and releases here.

Disclaimer

Fortum Oyj published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 05:05:04 UTC.


© Publicnow 2021
All news about FORTUM OYJ
07/23FORTUM OYJ : Russian JV To Power Sberbank Offices With Wind
MT
07/23FORTUM OYJ : expands cooperation in the field of green energy supply in Russia .
PU
07/13FORTUM OYJ : Temporary reduction of power at Loviisa power plant Unit 1 due to h..
PU
07/09FORTUM OYJ : Moody's Revises Fortum's Outlook To Stable From Negative, Confirms ..
MT
07/08FORTUM OYJ : set to end the use of coal in its Russia division by the end of 202..
PU
07/08Fortum Ends Use of Coal in Russia With Sale of Argayash Coal-Fired Heat and P..
DJ
07/08FORTUM OYJ : to Exit Coal-Fired Power Plant in Russia
MT
07/08FORTUM OYJ : set to end the use of coal in its Russia division by the end of 202..
AQ
07/08JSC OTEK signed an agreement to acquire Argayash Coal-Fired Combined Heat and..
CI
07/07UNIPER : S&P Raises Uniper's Outlook To Stable, Affirms BBB Rating
MT
More news
Financials
Sales 2021 63 052 M 74 199 M 74 199 M
Net income 2021 1 628 M 1 916 M 1 916 M
Net Debt 2021 6 832 M 8 039 M 8 039 M
P/E ratio 2021 13,7x
Yield 2021 4,86%
Capitalization 20 688 M 24 336 M 24 346 M
EV / Sales 2021 0,44x
EV / Sales 2022 0,43x
Nbr of Employees 20 036
Free-Float 47,3%
Chart FORTUM OYJ
Duration : Period :
Fortum Oyj Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FORTUM OYJ
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Last Close Price 23,29 €
Average target price 22,72 €
Spread / Average Target -2,44%
EPS Revisions
Managers and Directors
Markus Heikki Erdem Rauramo President & Chief Executive Officer
Bernhard Günther Chief Financial Officer
Veli-Matti Reinikkala Chairman
Anja McAlister Deputy Chairman
Essimari Kairisto Independent Director
Sector and Competitors
1st jan.Capi. (M$)
FORTUM OYJ17.82%25 090
NEXTERA ENERGY0.06%144 872
ENEL S.P.A.-3.85%97 216
IBERDROLA, S.A.-10.90%78 310
DUKE ENERGY CORPORATION12.41%76 707
SOUTHERN COMPANY2.52%65 138