Algol Oy sells shareholding in CrisolteQ Oy to Fortum

Press Release 24.2.2020

Algol Oy together with the company’s founder and other investors has sold its shareholding in CrisolteQ Oy, a specialist in recycling of valuable metals in lithium-ion batteries, to Fortum Oyj. Following the transaction, CrisolteQ has become a fully owned subsidiary of Fortum. Algol Chemicals originally invested in CrisolteQ in 2017.

“Algol had the opportunity to invest in CrisolteQ at a decisive stage in its development. We are pleased that the company now has a strong new owner dedicated to its further development. This investment provided us with interesting new perspectives on the circular economy, and we continue to look forward to new cooperation opportunities,” says Algol CEO Alexander Bargum.

For more information, see the press release by Fortum.

Further information

Alexander Bargum, CEO, Algol Oy and Chairman of the Board, Algol Chemicals Oy, tel. +358 40 732 3232.

Algol in brief

Algol is a Finnish multi-branch supplier to industry and the healthcare sector. We work together with a global network of partners responsibly and with 125 years of experience. Algol’s solutions for industry are designed to safeguard manufacturing reliability, enhance processes and prolong the lifespan of machinery and equipment. In the healthcare sector Algol’s solutions promote the conditions for healthy living.

The Algol Group had net sales of 178 million euros in 2018. We employ almost 500 professionals in ten countries. Read more: www.algol.fi