A joint materials engineering and chemistry research group at the University of Turku has invented novel and promising materials for water-based flow batteries, a crucial technology for energy storage.
What is a battery from Finland project?
Batteries from Finland -project is enhancing the growth of knowledge basis and global competitiveness along the entire battery value chain – from raw material production to battery cell production, battery applications and recycling. The study was commissioned by Business Finland and jointly executed by Gaia Consulting and Spinverse. WHY FINLAND?
What is Finnish battery industries?
Finnish Battery Industries is the first association in the world representing companies in the battery value chain. Our members cover the battery value chain from mining and refining to the recycling of batteries. The association is a part of the Finnish Chemical Industries.
Is Finland a good operational environment for Li-ion batteries?
The attractiveness of Finland as operational environment for COMPANIES currently active within the Li-ion battery value chain in Finland was mainly considered as somewhat attractive or attractive covering together 81% of the company representative answers.
The battery industry investment potential in Finland is vast. The companies have plans to make investments worth 6-9 billion euros in the next 5 years. By 2027, the companies plan to have a revenue of 9 billion euros. The number of employees is estimated to be 6 000, and indirectly as much as 20 000.
Finland has essential minerals which are needed in battery production. In addition to these, Finland also has a lot of renewable electricity and the skills and knowledge needed by the industry. The battery industry investment potential in Finland is vast. The companies have plans to make investments worth 6-9 billion euros in the next 5 years.
Can flow batteries replace vanadium?
The green transition requires solutions for the storage of renewable energy. Flow batteries are one promising technology for this purpose, but current solutions require vanadium and will therefore always be too expensive. Materials based on renewable or abundant raw materials are therefore needed to replace vanadium.