Finland urged to seek investors in race for sustainable battery production

by John Shepherd
Mika Lintilä: Finland is 'attractive environment for investment'. Photo: Finnish Government
Finland is being urged to join the race to become one of Europe’s battery development hotspots – and to use the country’s raw materials wealth to entice international investment.

A new National Battery Strategy 2025 (NBS) is calling for the appointment of global "battery ambassadors” to promote Finland as an investment destination for sustainable battery production, recycling and to develop "new competences in the battery and electrification sector”.

The NBS was released yesterday – as the European Union announced €2.9bn (£2.6bn) worth of subsidies as part of its latest scheme to nurture a home-grown EU battery industry to support the electric vehicles and renewable power sectors.

Finland’s NBS is the work of a battery strategy working group that was appointed last June by economic affairs minister Mika Lintilä.

'Value chain'

Lintilä said: "When we utilise our current expertise and develop new competence in the battery and electrification sector, Finland can provide an attractive environment for new investments and the expansion of existing operations.”

According to the NBS, Finland could become a key European and international battery sector player by building on its "value chain strengths” in the domestic exploration and mining of battery minerals, such as nickel, cobalt and lithium.

Finland’s national reserves and metal processing capacity "are considerable within the European context”, the NBS said. "We also develop technology for the processing and refining of battery minerals.”

"The emerging new battery industry is one of the biggest opportunities Finland has encountered during the past few years. There are big risks in joining this race, but the risk of doing nothing is even bigger.”

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