MMC Norilsk Nickel (MNOD)
FINNISH BATTERY INDUSTRY INTENSIFIES COOPERATION: FORTUM, BASF, AND
NORNICKEL SIGN COOPERATION AGREEMENT ON BATTERY RECYCLING
06-March-2020 / 10:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Joint News Release
March 6, 2020
FINNISH BATTERY INDUSTRY INTENSIFIES COOPERATION: FORTUM, BASF, AND
NORNICKEL SIGN COOPERATION AGREEMENT ON BATTERY RECYCLING
Ludwigshafen, Germany and Harjavalta, Finland - Fortum, BASF, and Nornickel
have signed a letter of intent to plan a battery recycling cluster in
Harjavalta, Finland, serving the electric vehicle market. This would enable
a successful "closed loop" cycle to re-use the critical metals present in
used batteries.
Using metals from recycled batteries to produce battery materials offers
significant CO2 reduction in the production of electric vehicles. Additional
CO2 reduction can be achieved by using electricity from renewable sources in
Finland for the recycling process.
"By recycling valuable metals in lithium-ion batteries we reduce the
environmental impact of electric car batteries by complementing the supply
of cobalt, nickel and other critical metals from primary sources. Through
our previous acquisition of a Finnish growth company Crisolteq, an expert in
low CO2 hydrometallurgical processing, we are very proud that Fortum is now
able to increase the recovery rate of valuable materials in lithium-ion
batteries from 50% to over 80%", says Tero Holländer, Head of Business
Development, Fortum Recycling and Waste.
BASF intends to use recycled materials from the processes developed by the
companies within this cooperation in its planned battery materials precursor
plant in Harjavalta, Finland.
"The combination of battery materials production and recycling enables the
circular economy by closing the loop," says Tim Ingle, Vice President,
Precious Metals Refining, Chemicals & Battery Recycling, at BASF. "To drive
electrification, we are focused on bringing solutions for high energy
density cathode active materials and high efficiency lithium extraction for
battery recycling."
The parties aim to foster the production and use of responsibly produced
recycled raw materials in the battery market.
"A modern recycling unit next to Nornickel Harjavalta would further
strengthen its position as one of the most sustainable nickel refineries in
the world. This setup is ideal for sustainable processing of two of the main
metals used in Li-ion batteries. Development of recycling solutions will not
only support Nornickel's strategy of further lowering its CO2 footprint and
improving sustainability, but it is also essential to enable the industry to
meet the growing demand of critical metals in the electric vehicle sector,"
says Joni Hautojärvi, Managing Director, Nornickel Harjavalta.
Media contacts:
Fortum
Tero Holländer
Head of Business Development, Fortum Recycling & Waste
Phone: +358 40 861 5071
Tero.Hollander@fortum.com
BASF
Sarah Engeßer
Communications Specialist
BASF SE
Phone: +49 621 60-79819
sarah.engesser@basf.com
Nornickel
Joni Hautojärvi
Managing Director
Norilsk Nickel Harjavalta Oy
Phone: +358 50 384 3608
joni.hautojarvi@nornickel.fi
About Fortum
Fortum is a leading clean-energy company that provides its customers with
electricity, heating and cooling as well as smart solutions to improve
resource efficiency. We want to engage our customers and society to join the
change for a cleaner world. We employ more than 8,000 professionals in the
Nordic and Baltic countries, Russia, Poland and India. In 2019, our sales
were EUR 5.4 billion and 59% of our electricity generation was CO2 free.
Fortum's share is listed on Nasdaq Helsinki.
https://www.fortum.com/batterysolutions [1]
About BASF's Catalysts Division
BASF's Catalysts division is the world's leading supplier of environmental
and process catalysts. The group offers exceptional expertise in the
development of technologies that protect the air we breathe, produce the
fuels that power our world, and ensure efficient production of a wide
variety of chemicals, plastics and other products, including advanced
battery materials. By leveraging our industry-leading R&D platforms, passion
for innovation and deep knowledge of precious and base metals, BASF's
Catalysts division develops unique, proprietary solutions that drive
customer success. Further information on BASF's Catalysts division is
available on the Internet at www.catalysts.basf.com [2]
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic
success with environmental protection and social responsibility. More than
117,000 employees in the BASF Group work on contributing to the success of
our customers in nearly all sectors and almost every country in the world.
Our portfolio is organized into six segments: Chemicals, Materials,
Industrial Solutions, Surface Technologies, Nutrition & Care and
Agricultural Solutions. BASF generated sales of EUR 59 billion in 2019.
BASF shares are traded on the stock exchange in Frankfurt (BAS) and as
American Depositary Receipts (BASFY) in the U.S.
Further information at www.basf.com [3]
About Nornickel
PJSC «MMC «NORILSK NICKEL» is a diversified mining and metallurgical
company, the world's largest producer of palladium and high-grade metal
nickel and a major producer of platinum and copper. The company also
produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium,
tellurium, sulphur and other products.
The production units of «NORILSK NICKEL» Group are located at the Norilsk
Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as
well as in Finland and South Africa.
PJSC «MMC «NORILSK NICKEL» shares are listed on the Moscow and on the
Saint-Petersburg Stock Exchanges. PJSC «MMC «NORILSK NICKEL» ADRs are traded
over the counter in the US and on the London, Berlin and Frankfurt Stock
Exchanges.
Further information at www.nornickel.com [4]
ISIN: US55315J1025
Category Code: MSCH
TIDM: MNOD
Sequence No.: 50866
EQS News ID: 991219
End of Announcement EQS News Service
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=1ae6819fd4df95e34275fb614af057c3&application_id=991219&site_id=vwd&application_name=news
2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=020cceb7e5b2e639a34384590c1d2e29&application_id=991219&site_id=vwd&application_name=news
3: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=3d9de1cbcad08ba7a9936336d5d2fb2d&application_id=991219&site_id=vwd&application_name=news
4: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=58050d2fb96c1b24c049edbbe91ef981&application_id=991219&site_id=vwd&application_name=news
(END) Dow Jones Newswires
March 06, 2020 02:00 ET (07:00 GMT)
© 2020 Dow Jones News
