Belgium-based materials technology giant Umicore is to build a cathode materials production plant in Poland.
Umicore said it would invest EUR660 million ($781m) in launching the first phase of the plant at Nysa, in the southwest of the country, which is expected to start up in late 2020.
Belgium’s Umicore has raised nearly EUR900 million ($1.1 billion) in a shares sale to fund potential future acquisitions and boost investments in cathode materials.
The Brussels-based global materials technology and recycling firm sold 10% of its shares in a block trade on 8 February.
Belgium-based Umicore has broken ground in China for a new battery materials plant as part of a EUR360 million ($434m) expansion programme.
Umicore said the new plant in in Jiangmen, Guangdong Province, would produce NMC (nickel-manganese-cobalt) cathode materials for rechargeable lithium-ion batteries to meet increasing demand for the electric vehicle market.