Fortum Secures Up to EUR 40 Million EU Grant for Battery Recycling Expansion

Fortum Battery Recycling has secured a grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA) for the NEXT HYDROMET project, which aims to expand its hydrometallurgical battery recycling facility in Harjavalta, Finland.

The grant, potentially worth up to EUR 40 million, is part of the EU Innovation Fund program. This funding formalizes the financial path following the company's successful evaluation in the Net-Zero Technologies Call announced in November 2025.

The expansion is intended to significantly enhance Fortum's capacity to recover critical metals from end-of-life electric vehicle batteries and industrial battery waste. This initiative aims to bolster the circular economy for batteries within Europe.

"This grant demonstrates the value of our advanced hydrometallurgical technology and its crucial role in enhancing Europe's self-sufficiency in sustainable, critical raw materials," stated Jaakko Soini, Director of Technology & Growth at Fortum Battery Recycling. "The grant is a key enabler that allows us to proceed with the project and support the continent's drive towards a net-zero economy."

Fortum's Harjavalta facility is recognized as Europe's largest closed-loop hydrometallurgical battery recycling plant. The planned expansion will introduce next-generation technology focused on improving efficiency, reducing chemical consumption, and maximizing sustainability through on-site chemical production. This advancement seeks to set a new benchmark for closed-loop battery recycling across Europe. Fortum is currently assessing strategic options for its Circular Solutions businesses, including potential partnerships and ownership changes.