Umicore signs renewable electricity PPA with Gasum for its battery materials precursor and refining plant in Finland

Umicore has signed a second 10-year power purchase agreement (PPA) with Gasum to source renewable electricity for its site in Kokkola, Finland, where Umicore refines cobalt and produces precursor cathode active materials for electric vehicle batteries.

Gasum will provide Umicore with about 35 GWh of certified renewable electricity per year until 2035 from a non-subsidized Finland-based onshore wind farm, which was commissioned in December 2023.

“Through this second agreement with Gasum, Umicore proudly continues to expand its reliance on renewable electricity for its production. Last year more than 40 percent of our global electricity needs came from renewable sources and in Europe this was almost 60 percent. Securing renewable electricity supply reduces the carbon footprint of our materials and secures our sustainable growth.”

Géraldine Nolens, Umicore’s ESG Executive Vice President

In its Let’s go for Zero ESG ambition, Umicore aims to reach net-zero greenhouse gas emissions by 2035 for its scope 1 emissions from its on-site operations, and for its scope 2 emissions, which relate to energy purchases. As a first milestone, Umicore aims to reduce its scope 1 and scope 2 greenhouse gas emissions by 20 percent in 2025 from the 2019 baseline.

“We are happy to strengthen our partnership with Umicore through this second Power Purchase Agreement. This adds to our joint efforts towards sustainable practices and supports Umicore's net-zero-target. This long-term deal safeguards Umicore from market unpredictability and boosts our green energy investments. We're excited to continue powering Umicore's Kokkola facility with clean, Finnish wind energy", said Ville Venäläinen, Senior PPA Portfolio Manager at Gasum.

Gasum is a major actor in the power markets and offers sophisticated power solutions to its customers. Besides power market services Gasum also offers biogas and natural gas for industry, maritime shipping, and road transport.