Crisolteq and Fortum partner up to tackle EV sustainability issues
Crisolteq and Fortum are partnering up to tackle major EV sustainability issues. The joint innovation will increase the recycling rate of the EV batteries to over 80 %.
Electrification will rapidly increase the need for batteries. A new solution by Nordic clean energy company Fortum makes over 80% of the electric vehicle (EV) battery recyclable, returns the scarce metals back into circulation and resolves the sustainability gap by reducing the need to mine nickel, cobalt, and other scarce metals.
The recycling rate of over 80% can be achieved with a low-CO2 hydrometallurgical recycling process. The batteries are first made safe and mechanically treated by Fortum, with plastics, aluminum and copper separated and directed to their own recycling processes. The remaining black mass is forwarded for chemical processing at Crisolteq's Harjavalta plant.
Crisolteq’s recovery process allows cobalt, manganese, nickel, and lithium to be recovered from the battery and delivered to battery manufacturers to be reused in producing new batteries.
“Crisolteq has for several years developed technologies and capabilities to recover metals from industrial side-streams. Our partnership allows us to expand the use of this knowledge to process the black mass and recover metals for new batteries. ”
Dr. Kenneth Ekman, CEO of Crisolteq
According to a forecast by the International Energy Agency, the number of electric vehicles (EVs) on the world’s roads will increase from 3 million to 125 million by 2030. In 2015 the global lithium-ion battery recycling market was worth about €1.7 million, but it is expected to boom in the coming years to more than €20 billion.
For more information:
Dr. Kenneth Ekman, CEO, Crisolteq Ltd, +358 40 748 1829