On May 7, Umicore signed a second 10-year power purchase agreement (PPA) with Gasum, a Finland-based energy company, to source renewable electricity for its site in Kokkola, Finland. The Kokkola facility is where Umicore refines cobalt and produces precursor cathode active materials for electric vehicle batteries.
Under the agreement, Gasum will supply Umicore with approximately 35 GWh of certified renewable electricity annually until 2035, from a non-subsidized onshore wind farm located in Finland, which commenced operations in December 2023.