Business Finland said it had granted the BATCircle 2.0 (Finland-based Circular Ecosystem of Battery Metals) funding as stakeholder collaboration would help the Scandinavian country establish a position in the emerging battery metals market.

"Finland has all the know-how, and there is a shared ambition to make our country the most attractive global partner in this fast-growing industry," said Ilkka Homanen, head of Smart Mobility and Batteries from Finland, Business Finland.

Led by Aalto University, BATCircle 2.0 was founded in 2019 with the stated mission of improving manufacturing processes in mining, metals refining and battery chemicals - particularly in increasing the recycling efficiency of lithium-ion batteries.

BATCircle 2.0, which consists of six research organizations and 15 companies, has launched research to support the exploration for potential battery mineral deposits in Finland and studied opportunities for their more sustainable exploitation.

The companies involved include Norilsk Nickel, Keliber Technology, Finnish Minerals Group and Metso Outotec.

"We believe that our domestic battery metals ecosystem will enable the growth of a European ecosystem that follows the principles of a circular economy and further strengthens Finland´s position in the field," said Mari Lundström, principal investigator of BATCircle and associate professor at Aalto University, School of Chemical Engineering.