BASF and Nornickel Join Forces to Supply the Battery Materials Market

Germany’s BASF (ETR:BAS) has selected Harjavalta, Finland, as the first location for battery materials production serving the European automotive market. The plant will be constructed adjacent to the nickel and cobalt refinery owned by Norilsk Nickel, also known as Nornickel.

As quoted in the press release:

This investment is part of BASF’s 400 million-euro multi-step investment plan announced last year and builds upon initial battery materials production started in Harjavalta in 2018. Start-up is planned for late 2020, enabling the supply of approximately 300,000 full electric vehicles per year with BASF battery materials. The new plant in Harjavalta will utilize locally generated renewable energy sources, including hydro, wind and biomass.

Additionally, BASF and Nornickel have signed a long-term, market-based supply agreement for nickel and cobalt feedstocks from Nornickel’s metal refinery. The agreement will establish a locally sourced and secure supply of raw materials for battery production in Europe.

Click here to read the full BASF (ETR:BAS) and Nornickel press release.