Fortum Battery Recycling has announced the production of a new battery production plant to ensure the faster, cheaper, and more energy-efficient production of cathode and anode materials.
The company has been awarded a grant from the government business development agency Business Finland for the new battery production plant.
The goal of the facility is to pilot a new method for producing cathode and anode materials, including lithium titanium oxide (LTO).
The demand for battery materials is expected to grow significantly
“The market for lithium batteries and thus also cathode and anode materials will continue to grow rapidly in the coming years, and there is constant demand for new solutions,” explained Tero Holländer, Head of Fortum Battery Recycling.
He added: “Safety, efficiency, and sustainability, together with European-based production chains, are key in this industry. The battery production plant could open a completely new market for Fortum Battery Recycling among battery cell manufacturers.”
The company is seeking to undertake pilot tests with other companies to test and develop the LTO anode material and cathode materials that meet the needs of the growing demand for battery metals.
Scaling up battery production plants will help meet this demand
Recycled battery chemicals, such as lithium, are expected to be used at the new battery production plant. These will be produced at Fortum’s hydrometallurgical recycling facility in Harjavalta.
The location of the new plant has not yet been revealed, while the amount of funding it has received is also being kept under wraps.
In addition to the funding granted for the new battery production plant, Fortum Battery Recycling has also been awarded a €4.5m grant from Business Finland to expand its mechanical processing capabilities at its facility in Ikaalinen, Finland, including a new type of mechanical shredder and related equipment.
Recycling electric car batteries and recovering critical raw materials are part of Fortum Recycling’s core business. The company’s subsidiary Fortum Battery Recycling is also planning a new recycling hub in Germany in the industrial area of Artern in Thuringia.
Source: Innovation news network