Fortum receives new IPCEI grant for European Battery Innovation project

05 May 2021, 12:41 EEST

Lithium-ion batteries

Fortum has received a grant for € 1.88 million from Business Finland in conjunction with the EU Commission’s European Battery Innovation project.

To support research and innovation in the battery value chain, the European Commission has set up an IPCEI project (Important Project of Common European Interest) known as the European Battery Innovation project.

The EU Commission aims to build an innovative and sustainable European battery industry. In view of the growing importance of batteries in a number of areas, including notably transport and energy, a safe, circular and sustainable battery value chain will be increasingly essential. Having batteries that are more sustainable throughout their life cycle is key to achieve the climate targets.

“We are very happy about the financing decision, which will help us to expand our battery value network and to develop an international business ecosystem for lithium battery recycling,” says Tero Holländer, Fortum’s Head of Business Line, Batteries.

Last January, the European Commission approved € 2.9 billion in public support for battery research and innovation projects presented by 12 Member States. Fortum was approved as one of the participants in the Autumn IPCEI 2 project.

The final financing decision was made on 28 April by Business Finland to support Fortum’s aims on the industrial deployment of a comprehensive battery recycling service concept. The project comprises smart solutions for management, logistics and pretreatment of end-of life batteries followed by a mechanical treatment process. The concept maximizes the value of a battery after the first life phase and ensures the efficient recycling of the battery components.