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.
The Poland project comes just months after the company pledged to boost investments in cathode materials and potential acquisitions after raising nearly EUR900m in a shares sale.
In addition, the company plans to build a new ‘process competence centre’ at its existing site in Olen, Belgium, where it has a major R&D centre, to “further strengthen” production processes that will be applied to its facilities worldwide.
Umicore had not specified the material involved in the Poland project at the time of BBB going to press, but said the new plant would be Europe’s “first substantial cathode material factory”.
CEO Marc Grynberg saidthe plant would “significantly contribute” to European Union plans to develop an EU battery industry alliance.
Umicore already has a battery materials plant under construction in China as part of a EUR360m expansion programme in Asia. The Guangdong Province facility will produce NMC (nickel-manganese-cobalt) cathode materials for rechargeable lithium-ion batteries to meet increasing demand for the Chinese electric vehicle market.
Meanwhile, South Korea’s LG Chem Poland has also selected Poland for European battery production. BBB reported earlier this year that Poland was providing a grant to ‘sweeten’ a deal under which LG Chem would build a major production plant in the country for electric vehicles.
