Umicore secures EIB funding to develop European lithium-ion battery cathode plant

Materials technology firm Umicore has finalised a €125 million ($141 million) loan agreement with the European Investment Bank (EIB) as it looks to develop a lithium-ion battery cathode plant in Europe.
The proceeds of the loan, which has a maturity of eight years, will finance part of the Belgium firm’s investment in the cathode materials plant in Nysa.