Fortum capable of 80% recycling on industrial scale (electrive)
- According to a statement released by the company, Fortum has found a new solution that makes over 80% of the electric vehicle (EV) battery recyclable.
- The recycling rate is achieved with a low-CO2 hydrometallurgical recycling process that returns the scarce metals back into circulation and resolves the sustainability gap by reducing the need to mine cobalt, nickel, and other scarce metals.
- Fortum estimates that the global battery recycling market could be worth at least EUR20bn per year by 2025.
Analysis & Comments
- Some other analysis indicates that the hydrometallurgical recycling process which Fortum is proposing to use (based on technology from the Finnish company Crisolteq) could be the future of battery recycling. Some analysts estimate that by 2028 c. $22bn of materials will be recycled, so similar to the Fortum estimate.
- Contrary to the Fortum press release, achieving an 80%+ recycling rate is fairly normal, in fact other companies such as CATL are already achieving higher rates than this. The 80% level as being Fortum’s starting point, and they should grow this as they scale up.
- Fortum is clearly making a move to be a leader in the whole green electrification value chain, with renewable energy & some material investments in EV recharging stations.
Fortum's Stock Price
Published by Mr. Crypto Lemon
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Recycling 80% of the battery is something that would really be beneficial for the environment. Renewable energy is definitely the future .
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Indeed, Recycling is the only way this is going to work out and it is very difficult to recycle those.
Thanks for passing by :D
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If they can really recycle 80% of the battery that would be a huge step forward for EV's.
The battery life time and disposal/recycling are still one of the main problems of EV's. This solution can help to make EV's even more environmental friendly !
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Indeed, recycling is one of the hardest ting to do with EV today…
Thanks for passing by
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@vlemon, Recycling always fall under the Productivity and it also help any industry to reduce the costs too in my opinion.
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You are 100% right, it should be taken into account all these external costs (material) but also to the society !
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Yes.
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These developments excite me. 80% good rate. Building the future technology
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T’es ! 🙌. It does the same thing to me !
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