The energy will be used to powder Umicore’s site in Kokkola, which produces precursor cathode active materials and refines cobalt used in rechargeable batteries for electric cars.
Both contracts run for a period of 10 years, with Statkraft starting in 2024 and Gasum in 2025.
According to Umicore, Statkraft will provide Umicore with about 60 GWh of certified renewable electricity each year until 2033 from its Nuolivaara wind farm, northern Finland, while Gasum will supply around 45 GWh per year until 2034.
“Clean energy agreements […] reduce Umicore’s scope 2 emissions as we use electricity as the main source of energy throughout our battery materials value chain, and they significantly contribute to securing our own energy supplies, at a cost competitive level, for the next decade,” said Mathias Miedreich, CEO of Umicore.
Umicore plans to reduce its greenhouse gas emissions resulting from its on-site operations and relating to energy purchases by 20% in 2025, and wants to reach net zero emissions by 2035.