Fortum

What Fortum does

Fortum is a publicly listed Nordic energy company (Fortum Oyj, Nasdaq Helsinki) headquartered in Espoo, Finland, generating and supplying low-carbon electricity primarily from nuclear and hydroelectric assets. In 2024 the company generated 46 TWh of power with 99% CO2-free output, supplying approximately 40 TWh to roughly 2 million consumer and business customers across Finland, Sweden, Norway, and Poland. Revenue streams span wholesale power generation and trading, retail electricity supply (Consumer Solutions division), district heating and cooling networks in Finland and Poland, nuclear lifecycle services delivered to operators in 30+ countries, end-to-end battery recycling at the Harjavalta hydrometallurgical facility, EV charging (Fortum Charge & Drive), and industrial site development for data centers and hydrogen projects. LTM revenue ending Q1 2026 was EUR 5,339 million with comparable EBITDA of EUR 1,302 million.

Fortum's core technology stack combines Nordic low-carbon generation assets (Loviisa nuclear plant producing approximately 8 TWh/year, hydroelectric portfolio, 730 MW operating wind, ~8 GW wind/solar permitting pipeline, 864 MW pumped-storage applications in Sweden) with proprietary digital platforms including the Apros® nuclear process simulation software (developed with VTT), NEXT HYDROMET hydrometallurgical recycling process achieving over 95% metal recovery, and Fortum Spring for demand-response and flexibility market participation. The company employs approximately 4,500 people, including 800+ nuclear professionals, and operates under Finnish government majority-influenced ownership.

Fortum's go-to-market operates on two distinct motions: enterprise field sales for large industrial customers requiring ≥100 GWh annually (delivering tailored PPAs, hedging, guarantees of origin, and flexibility services via Fortum Spring), and direct-to-consumer digital channels for residential and SMB customers via apps, websites, and self-service portals. Enterprise pricing is bespoke and contract-based (multi-year PPAs such as the 5-year Vargön Alloys agreement at 0.4 TWh/year and the EcoDataCenter 10 MW hydropower PPA), while consumer pricing uses fixed-price subscriptions of 1-3 years. Strategic capital deployment of EUR 2.0 billion committed capex for 2026-2030 is concentrated in clean generation, battery recycling, heat recovery infrastructure (EUR 225 million Microsoft data center heat pump plants), data center site development (Nscale, Microsoft), and SMR/new nuclear partnerships (Steady Energy, Framatome consortium).

Name

Fortum

Legal name

Fortum Oyj

Website

https://fortum.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Fortum is a publicly listed Nordic energy company generating 99% CO2-free electricity (nuclear, hydro, wind) and supplying approximately 2 million residential and large industrial customers across Finland, Sweden, Norway, and Poland, with complementary businesses in district heating, battery recycling, and nuclear services.

Ownership category

akta.pro rank

Product category

Power Generation and Energy Utilities

NAICS

Electric Power Generation (22111), Nuclear Electric Power Generation (221113), Hydroelectric Power Generation (221111), Steam and Air-Conditioning Supply (22133)

SIC

Cogeneration Services & Small Power Producers (4991), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Charging Network Operators & CPOs Offering Smart Charging/V2G (EUAFAMAD)

Keywords

• Electricity generation
• District heating services
• Battery recycling solutions
• Power purchase agreements
• Nuclear lifecycle services

Headquarters

HQ city

Espoo

HQ country

Finland

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Power Generation and Sales: Generation and sale of electricity from nuclear, hydroelectric, wind, and solar sources. Revenue driven by wholesale power prices, production volumes, and market conditions across the Nordics. Includes hedging contracts to manage spot price exposure.
2. District Heating and Cooling: District heating supply to properties in Espoo, Kauniainen, Kirkkonummi (Finland), and cities in Poland (Wrocław, Częstochowa, Płock). Revenue from heat sales and cooling services for residential and commercial customers.
3. Consumer Energy Solutions: Sale of electricity contracts and related digital services to over 2 million residential and business customers in Finland, Sweden, Norway, and Poland.
4. Battery Recycling: End-of-life lithium-ion battery recycling services, pre-treatment solutions for production waste, and sale of recovered raw materials (nickel, cobalt, manganese sulfates, lithium hydroxide).
5. Nuclear Services: Expert services for nuclear power plant lifecycle including newbuild consulting, operating plant support, decommissioning, disposal, radioactive waste management, and safety simulations using Apros® software.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Fortum generates and supplies low-carbon electricity (99% CO2-free from nuclear, hydro, wind, and solar), provides district heating and cooling to Nordic and Polish cities, operates the Fortum Charge & Drive EV charging network, delivers nuclear lifecycle services globally using proprietary Apros simulation software, and runs Europe's largest closed-loop hydrometallurgical battery recycling facility at Harjavalta, Finland. The company serves over 2 million residential customers and large industrial customers with tailored PPAs, hedging, and flexibility services.

Product overview

Fortum is a Nordic energy company offering a diversified portfolio of energy products and services centered on low-carbon power generation and delivery. The core offering consists of hydroelectric and nuclear power generation assets (99% of total generation is CO2-free), supplemented by consumer and corporate energy solutions. Key products include Fortum Charge & Drive (cloud-based EV charging platform with CCS/CHAdeMO support), Nuclear Services (lifecycle management for nuclear facilities), Fortum Battery Recycling (hydrometallurgical battery recycling at Harjavalta), and district heating/cooling services. Corporate customer offerings include power trading, hedging services, power purchase agreements (PPAs), guarantees of origin, and flexibility solutions through Fortum Spring. The company also provides industrial site development services for energy-intensive investments in Finland. Products operate across the Nordics, Poland, and select international markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Fortum Charge & Drive A cloud-based EV charging platform combining physical charging stations with digital management software for public and semi-public networks. Supports multiple charger brands and standards (CCS, CHAdeMO, AC), allowing drivers to locate, initiate, and pay for charging sessions via mobile app or RFID tag. Operates across Nordic countries, Central Europe, and India.
• Power Trading and Energy Supply Tailored electricity trading, hedging, and procurement solutions for industrial and large-scale customers. Services include power purchase agreements (PPAs), guarantees of origin, flexibility solutions, and physical power deliveries for energy-intensive industries and electricity retailers.
• Consumer Solutions Energy solutions for consumers and medium to large-sized businesses, serving over 2 million customers. Delivers electricity and related value-added and digital services across the Nordics, including fixed-price contracts with 100% renewable sourcing.
• Nuclear Services Comprehensive nuclear power lifecycle services including newbuild support, operating plant services, decommissioning, disposal, radioactive waste management, and plant safety simulations using Apros software. Expertise utilized in over 30 countries with 45+ years of experience.
• District Heating and Cooling District heating and cooling services for businesses and households in Espoo, Kauniainen, and Kirkkonummi (Finland) and Wrocław, Częstochowa, and Płock (Poland). Includes heat recovery from data centers and wastewater, two-way district heating systems, and industrial cooling solutions.
• Industrial Site Development Tailored solutions for energy-intensive industrial developers and investors in Finland, providing large scalable industrial sites with strong power grid connections. Services support data centers, green hydrogen projects, and battery industry investments.
• Fortum Battery Recycling End-to-end battery recycling solutions from waste collection through pre-treatment to hydrometallurgical refining. Europe's largest closed-loop hydrometallurgical battery recycling facility in Harjavalta, Finland, recovering nickel, cobalt, manganese sulphates, and lithium hydroxide for reuse in new battery production.
• Fortum Spring (Flexibility Services) Demand response and flexibility solutions allowing businesses to leverage the flexibility of their power consumption, unlocking additional revenue streams through active participation in capacity markets. Supports battery storage, flexible consumption (e-boilers, data centers), and flexible generation including renewables.
• Power Purchase Agreements (PPAs) Long-term electricity purchase agreements providing renewable, nuclear, and RFNBO PPAs with structured products. Ensures diverse and customized energy agreements with predetermined rates over multi-year contracts, enabling risk management and price predictability.
• Guarantees of Origin Certificates verifying the origin of electricity from renewable or nuclear sources, enabling businesses to prove their energy consumption comes from low-carbon generation.
• Battery Box Complete automotive and industrial battery recycling solution with fixed pricing, designed for companies of all sizes. Part of Fortum's end-to-end battery lifecycle management offering.

Quantifiable outcome

• 99% of power generation from renewable and nuclear sources with lowest specific CO2 emissions in Europe
• +5 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Scale indicators15 records

Recent moves11 records

Expansion highlights8 records

Direct peers

• Ørsted: Danish state-backed renewable energy major with offshore wind, hydrogen, and bioenergy operations. Directly comparable as a Nordic-listed utility executing an industrial decarbonization strategy with large-scale generation assets and PPA-driven growth.
• Vattenfall: Swedish state-owned utility operating nuclear, hydro, wind, and district heating across the Nordics. Closest direct peer given shared Nordic footprint, nuclear and hydro generation mix, district heating operations, and similar industrial customer focus.
• Statkraft: Norwegian state-owned renewable energy company, Europe's largest generator of hydropower. Comparable as a Nordic state-backed IPP with substantial hydro flexibility, power trading capabilities, and growing wind/solar portfolio.

Broad incumbents

• EDF (Électricité de France): French state-owned utility and one of the world's largest nuclear operators. Comparable given nuclear baseload generation, integrated retail operations, and significant European footprint, though larger and more nuclear-heavy than Fortum.
• Uniper: German energy company with large-scale generation, trading, and energy retail operations across Europe. Comparable in scale and integrated utility model, though Fortum has cleaner (nuclear/hydro) baseload and less gas exposure.
• Iberdrola: Spanish global renewable energy major with significant wind, hydro, and grid operations across Europe, the Americas, and Australia. Comparable as a low-carbon integrated utility pursuing industrial electrification and PPA-driven growth at a larger scale.
• Engie: French global utility with renewables, gas, networks, and energy services across Europe and internationally. Comparable as a diversified utility transitioning toward renewables and low-carbon solutions, with district heating operations in several markets.
• Enel: Italian multinational utility with major renewable generation, distribution networks, and retail operations across Europe and the Americas. Comparable in scale and integrated utility model with a similar pivot toward clean energy.
• RWE: German utility with significant offshore wind, onshore renewables, and flexible generation across Europe. Comparable as a European utility executing an aggressive renewables build-out and PPA-driven growth strategy, though with different generation mix.

Emerging players

• Skarta Energy / Neway (or comparable Nordic hydropower developer): Smaller Nordic renewable energy developers and IPPs participating in Finnish and Swedish PPAs for industrial customers. Comparable as emerging players in the same Nordic PPA market where Fortum competes for industrial offtakers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/fortum
• YouTubeyoutube.com/fortum
• Facebookfacebook.com/FortumNorge
• LinkedInlinkedin.com/company/fortum
• Instagraminstagram.com/fortum_fi

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries7 records

Funding overview

Funding rounds2 records

Investors19 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fortum