Talga AB (“Talga”), the Swedish subsidiary of battery materials and technology company Talga Group Ltd, and Fortum Battery Recycling Oy (“Fortum”), a leading European battery recycler based in Finland, have signed a non-binding Memorandum of Understanding (“MoU”) to explore strategic opportunities across the European graphite and battery materials value chain.
Under the MoU, the parties intend to combine Talga’s expertise in high-purity primary graphite mining and proprietary anode production technologies with Fortum’s capabilities in battery recycling and the production of sustainable battery raw materials. The collaboration will assess technical feasibility, potential commercial structures, and the possibility of establishing long-term offtake agreements.
The proposed collaboration has the potential to create meaningful value for Talga by providing diversified feedstock options and creating new routes to market for both primary and circular anode products. For Fortum, the partnership offers a pathway to expand its battery materials portfolio and further strengthen European strategic autonomy in critical battery materials.
In addition, Talga and Fortum are discussing potential power supply and energy solutions to support Talga’s Vittangi Anode Project and future operations. These discussions will leverage Fortum’s low-carbon electricity generation portfolio and could contribute to the long-term energy requirements of Talga’s planned operations.
Talga CEO, Martin Phillips commented: “Europe needs secure, sustainable and
diversified sources of graphite to support the continued growth of its key industries,
including its lithium-ion battery market. We are pleased to work with Fortum to evaluate
how primary and recycled resources can be combined and to explore broader
cooperation that can strengthen Talga’s Vittangi Anode Project and Europe’s battery
ecosystem.”Head of Fortum Battery Recycling, Anssi Airas commented: “Strengthening the
competitiveness of Europe’s battery industry requires collaboration across the whole
value chain. With graphite playing an increasingly strategic role in battery supply
chains, this Memorandum of Understanding provides a framework for evaluating how
our respective capabilities can contribute to more resilient and circular battery material
value chains in Europe.”
Key terms of the MoU include:
- • Non-binding
• Term: until the earlier of (i) the signing of the Sales Agreement, or (ii) the Long-Stop Date 31
December 2033
• Condition precedent: Talga and Fortum financial investment decision (“FID”), construction
completion & mass-production commissioning.
• Pricing and product specification: to be evaluated during the MoU feasibility work, and if successful, incorporated into a binding sales and purchase agreement.
• Targeted commercial start: from 2029
• Indicative volumes: 400 tpa 2029, ramping up to 10,000 tpa by 2034
Graphite is designated as a critical mineral by both the United States and the European Union and is an essential material for energy security, advanced manufacturing, and national security objectives. The growing demand for lithium-ion batteries across mobility, energy storage, industrial, and defence applications further highlights the importance of establishing reliable and responsibly sourced European supplies of graphite and battery anode materials.
The MoU builds on the shared focus of Talga and Fortum on resource efficiency, value chain circularity, and the supply of responsibly sourced graphite and battery materials. Through this collaboration, the companies aim to contribute to strengthening European strategic autonomy in critical battery materials. Talga and Fortum plan to progress specific opportunities over the coming months, with any potential binding agreements remaining subject to further due diligence and the necessary board approvals.
Talga Group Ltd is a global leader in the production of high-performance, sustainable battery anode and advanced graphitic materials. The company’s capabilities include proprietary graphite purification, shaping, and coating technologies, which support secure and low-emission supply chains for lithium-ion battery anodes and other new-energy materials. Talga’s products and technologies address key challenges in battery manufacturing, including supply vulnerabilities, performance limitations, and recyclability, thereby supporting the transition toward more secure critical mineral production.
Fortum Battery Recycling provides recycling services for lithium-ion batteries and battery production waste, recovering valuable battery metals and graphite for reuse within the battery value chain. The company operates Europe’s largest closed-loop hydrometallurgical battery recycling facility in Harjavalta, Finland, alongside battery pretreatment operations in Germany. Fortum Battery Recycling forms part of Fortum’s broader business portfolio.
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