Mitsubishi Joins Finland’s Low-Carbon Aluminum Smelting Project

Mitsubishi Corporation (MC) has announced its participation in a pioneering aluminum smelting project in Finland that will utilize electricity free from carbon dioxide (CO2) emissions. The initiative aims to develop low-carbon aluminum smelting technology, with production targeted to begin around 2029.

The project is a collaboration between Mitsubishi Corporation, Finland's national power company Fortum, Finnish Industry Investment, and Swedish fund Vargas Holdings. This marks the first new aluminum smelting venture in Europe in over 30 years.

Aluminum's lightweight and high recyclability make it a critical material for industries transitioning to decarbonization, including automotive, aerospace, and electrical sectors. However, aluminum production traditionally requires significant energy consumption. By locating the project in Finland, the venture benefits from stable access to low-emission electricity, supporting sustainable production.

Fortum will manage renewable energy procurement for the project, ensuring low CO2 emissions. Additionally, Rio Tinto, a leading aluminum producer, will supply advanced smelting technology. The project will assess economic, social, and environmental impacts to ensure comprehensive sustainability.