EIT InnoEnergy invests €5.8m into Northvolt’s “mission critical” battery recycling plant
InnoEnergy, Europe’s sustainable energy innovation engine, with the support of the EIT and the European Union, has today announced its €5.8 million investment into Northvolt’s “Revolt” program. The program, which will implement the latest discoveries in efficient materials recovery methods, will see the construction of a pilot battery recycling plant, followed by a full-scale version at Northvolt’s site in Skellefteå in 2022.
EIT InnoEnergy’s investment supports Northvolt’s target of using 50% recycled materials in all its new battery cells by 2030. The announcement comes just two days after the European Green New Deal highlighted the importance of circular economy initiatives to “mainstream” sustainability throughout European policy. Speaking of the investment, EIT InnoEnergy CEO Diego Pavia said: “This is a landmark investment and one that has a mission critical role to play in addressing climate issues.”
Founded in 2010, the Eindhoven, Noord-Brabant, The Netherlands-based InnoEnergy is supported by the European Institute of Innovation and Technology (EIT). InnoEnergy is the innovation engine for sustainable energy across Europe. Its business creation boosts the success rate of start-ups, powers the growth of SMEs, and helps corporates de-risk their open innovation strategies. With its global network of partners, they connect entrepreneurs, investors and industry, knowledge, businesses and markets. They help maximize their impact, accelerate the development of market-ready solutions, and create an environment in which innovation and entrepreneurship can succeed.
“Europe’s energy transition relies on creating a local, competitive and sustainable battery value supply chain that can support the electrification of the transport, power and industrial sectors. As battery volumes are expected to increase drastically, it will be doubly important that, as an industry, we do everything we can to reduce their manufacturing footprint.”
“As such, greener battery technologies are a cornerstone of a sustainable future, and we are actively seeking to invest in technologies that can unlock economic and environmental benefits. Better technologies mean we can manufacture much more with less, using recycled raw materials and less energy.”
The aim of using 50% recycled materials by 2030 will be achieved through a gradual build-up in capacity. The pilot plant will process 100 tons a year, while the full-scale unit initially will look to recycle 25,000 tons of battery cells a year. At present, much of Europe’s recyclable battery materials are thought to be exported abroad for reuse in countries such as China and Korea.
Peter Carlsson, CEO Northvolt, said: “We are very pleased to have the continued support of EIT InnoEnergy as we take this next step in developing our blueprint for sustainable battery manufacturing. Our partnership with EIT InnoEnergy has been vital in getting us to where we are today; not only has it provided investments, it has opened doors for us across Europe.”
Northvolt’s program builds on two years of research where, in conjunction with researchers at Chalmers University, Sweden, it has optimized the process design for hydrometallurgical treatment. The process allows for more efficient recovery of valuable metals including lithium, nickel, manganese and cobalt.
This latest investment brings EIT InnoEnergy’s total capital contributions to Northvolt to €9.3 million, following an earlier investment of €3.5 million three years ago. Both investments help EIT InnoEnergy unlock the estimated €250 billion annual European battery market, identified by the European Battery Alliance.
Northvolt is just one of several battery supply chain start-ups EIT InnoEnergy supports, and it has resources to support more. Earlier this autumn, EIT InnoEnergy issued its first ever global across the entire sustainability value chain. Following strong growth within the storage market, EIT InnoEnergy expects this call to attract a significant number of new storage innovations.