Fortum Battery Recycling selected for EU Innovation Fund grant preparation phase
3 November 2025
Fortum Battery Recycling has successfully passed the evaluation phase of the EU Innovation Fund’s Net-Zero Technologies Call (IF24 Call) and has been invited to enter the grant preparation phase for the planned expansion of its hydrometallurgical battery recycling facility in Harjavalta, with a potential grant of up to EUR 40 million.
Reception of the grant is subject to successful grant preparation phase and continued progress of the project, and is paid on the basis of expenses incurred. However, no final investment decision has been made yet.
The EU Innovation Fund empowers companies to bring breakthrough technologies to market, supporting Europe's journey towards climate neutrality by 2050. Being selected from the Innovation Fund’s Net-Zero Technologies Call (IF24 Call) demonstrates project's potential to significantly reduce greenhouse gas emissions and contribute to a sustainable future.
“We are pleased with the decision, which underscores the need for European production of critical battery materials. The funding is an important enabler for securing the financing for the project and possible expansion of the Harjavalta facility,” says Anssi Airas, Head of Business Line, Fortum Battery Recycling.
Earlier this year, the Harjavalta facility was recognised as one of the Strategic Projects for the Critical Raw Materials Act (CRMA) by the European Commission and was granted EUR 86.4 million from Business Finland as part of EU’s Temporary Crisis and Transition Framework (TCTF). Similarly, this funding is pending an investment decision.
Battery Recycling is part of the ongoing strategic review of Fortum’s Circular Solutions businesses. Fortum continues to assess potential options, including partnerships and a change of ownership, of this business.
The facility in Harjavalta is Europe’s largest closed-loop hydrometallurgical battery recycling facility that produces critical battery materials for the electrification of Europe. The planned expansion will introduce Fortum’s next-generation technology to its Harjavalta operations. This advanced process is designed to further improve efficiency, reduce chemical use, and maximize sustainability through on-site production of key chemicals. By implementing this breakthrough technology, the expanded facility will set a new benchmark for closed-loop battery recycling in Europe.
Fortum Corporation
Communications
Further information:
Anssi Airas, Head of Business Line, Fortum Battery Recycling anssi.airas
tel. +358 50 596 7246
Fortum Battery Recycling
Fortum Battery Recycling is part of the Fortum portfolio. Fortum Battery Recycling is a specialist in recycling of valuable metals in EV batteries. Its low-CO2 battery recycling solution makes it possible to recycle over 80% of the battery with 95% of the valuable metals contained in the battery's black mass to be put back into circulation. fortum.com/batteryrecycling
Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com