Business Finland has granted EUR 15M in funding for Nornickel Harjavalta’s expansion investment, which will support the growing demand of responsibly produced battery materials in Europe for electric vehicles with a low carbon footprint.
With the investment, Nornickel Harjavalta’s production capacity will be increased from 65,000 tons to over 100,000 tons nickel content in metal and chemical products. When implemented, the expansion investment will significantly strengthen the European battery ecosystem and improve the environmental performance of the production site. The financing promotes the construction of a sustainable battery industry in Finland enabling the growth of the business and industrial jobs.
The expansion investment will be implemented in two stages. In the first one, production will increase from 65,000 tons to 75,000 tons in 2023. During the second stage, production will increase to more than 100,000 tons by the beginning of 2026.