Umicore has signed two long-term power purchase agreements with Statkraft and Gasum
Umicore has signed two separate Long-term Power Purchase Agreements (PPAs) with Statkraft and Gasum to source renewable electricity from onshore wind turbines in Finland. Renewable energy will be used to manufacture precursor cathode active materials and to refine the cobalt to be used in rechargeable batteries for electric cars. Under ten years of long-term PPA agreement, Statkraft will source Umicore with about 60 GWh, and Gasum will provide Umicore with about 45 GWh of certified renewable electricity per year.
Umicore is working actively on recycling batteries to recover high-value metals and is also engaged in providing clean energy alternatives for the mobility sector. Using clean energy for the process developed by Umicore is a crucial step toward achieving carbon neutrality.
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