Novana Oy is planning a EUR 400 million investment in Pori – Business Finland's EUR 48.7 million support is essential to the realisation of Europe's first vanadium plant

Europe consumes about 8% of the world's vanadium, but is dependent above all on imports from China and Russia. The Pori plant is estimated to produce up to 60 per cent of the vanadium needed by Europe.Business Finland has granted an investment aid of EUR 48.7 million for the construction of the world's first carbon-neutral production plant in Tahkoluoto, Pori. The vanadium plant to be built by Novana Oy will operate by recycling industrial side streams, from which vanadium is separated using patented leaching technology and the by-products generated are utilised in the manufacture of