Krogerus advises Arctial on an industrial partnership regarding low-carbon aluminium production in Finland

Krogerus advised Arctial, a new project company, on the formation of a partnership of leading industrial, energy, and climate technology-focused companies that will commence a feasibility study regarding a low-carbon aluminium manufacturing facility in Kokkola and Kronoby, Finland. The initiative is financed by Rio Tinto, Mitsubishi Corporation, Vargas, and Tesi. If realised, the facility would mark the first greenfield primary aluminium development in continental Europe in over 30 years, significantly boosting the supply of domestic low-carbon aluminium in Europe.

Europe is a significant net importer of aluminium, and aluminium demand is growing rapidly driven by the energy transition, ambitious decarbonisation targets of end-customers and focus on light-weight materials. Geopolitics and regulatory tailwinds are further boosting the need for European production. This makes the establishment of a European greenfield aluminium operation attractive.

The project company will finance the assessment phase, and the partners will actively support with industrial expertise and technology. The project organisation anticipates making a final investment decision regarding a production facility during 2026−2027.

The Krogerus team was led by Partners Annika Schauman (Corporate and M&A) and Sami Laine (Industrial Projects), and included Partner Marcus Möller and Associates Ulrika Mäkinen and Thelma Krankkala. Partner Simo Autio advised on regulatory matters, and Partners Ritva Aalto and Samu Lassila on tax matters. Partner Päivi Toivari advised on financing matters and Partner Kalle Hynönen on intellectual property and technology matters.