Why Fortum Oyj’s (FOJCY) Battery Recycling Exposure Still Rests on a Diversified Utility Balance Sheet

Fortum Oyj (OTC:FOJCY) is one of the best battery recycling stocks to buy.

Why Fortum Oyj's (FOJCY) Battery Recycling Exposure Still Rests on a Diversified Utility Balance Sheet

The latest usable investor-relevant update is not a battery-recycling release. On June 15, Fitch Ratings affirmed Fortum’s BBB+ credit rating with a stable outlook, saying favorable Nordic power prices should help offset lower nuclear output. That matters because Fortum is a broad utility first, so its battery-recycling exposure has to be assessed alongside the balance sheet and power-generation base that support the wider portfolio.

Fortum’s direct link to the theme comes through Fortum Battery Recycling, which signed a CINEA grant agreement on March 25 for the NEXT HYDROMET expansion of its Harjavalta hydrometallurgical battery recycling facility. Fortum said the project could receive up to EUR 40 million and would improve the recovery of critical metals from end-of-life EV batteries and industrial battery waste. The company also described Harjavalta as Europe’s largest closed-loop hydrometallurgical battery recycling facility. Fortum therefore remains a diversified, lower-purity battery recycling name rather than a pure recycler, but its recycling asset is real.

Fortum Oyj (OTC:FOJCY) is a Finland-based energy company focused on power generation, electricity sales, district heating, decarbonization services, and battery recycling through Fortum Battery Recycling.

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