Injured by Northvolt – it doesn't stop risk capitalist Harald Mix and his company Vargas from embarking on the next energy-intensive project, building an aluminum factory in Finland with lower carbon dioxide emissions than traditional manufacturing.
Together with mining giant Rio Tinto, Finnish energy company Fortum, and Japanese Mitsubishi, plans are being made for an aluminum factory that will be operational by the end of the 2020s.
We're talking about a major industrial investment, says Arctial's CEO Torbjörn Sternsjö.
Next year, Arctial will initiate a feasibility study. A final investment decision is expected in 2026 or 2027 for a factory that could produce up to 500,000 tons of aluminum per year.
Two potential locations in Finland have been identified so far, Kokkola and Kronoby on the Finnish west coast.
Vargas is one of the main owners and founders of the crisis-stricken battery manufacturer Northvolt in Skellefteå.
