a subsidiary of South Korea's Solus Advanced Materials is set to construct a state-of-the-art copper foil facility in Quebec. The project, known as Volta Energy Solutions, will be situated in the town of Granby and is estimated to be valued at a substantial C$700 million ($514.37 million). This strategic endeavor is anticipated to reach full production capacity by the year 2026, according to a statement by a spokesperson for Canada's federal Innovation Minister, Francois-Philippe Champagne.
Copper foil plays a pivotal role in the production of lithium-ion batteries for electric vehicles, serving as a crucial component known as an anode collector. The decision to establish this facility aligns with Canada's broader strategy to attract companies engaged in various aspects of the EV supply chain, leveraging the nation's significant mining sector, which produces essential minerals such as lithium, nickel, and cobalt. These efforts are part of a multibillion-dollar green technology fund initiative, aimed at advancing environmental sustainability and reducing global carbon emissions.
Canadian federal officials, including Innovation Minister Francois-Philippe Champagne, have expressed their enthusiasm for this development. Champagne emphasized, “Canada is a partner of choice when it comes to the future of the automotive sector.” The federal Liberal government has committed to achieving overall net-zero emissions in Canada by the year 2050.
The Volta Energy Solutions project is expected to generate employment opportunities for approximately 260 individuals, providing a significant economic boost to the region. Notably, Granby is in proximity to Becancour, a small town located to the east of Montreal, which is actively positioning itself as a burgeoning hub within the EV supply chain.
Quebec's Premier, Francois Legault, highlighted the significance of such initiatives, stating, “More projects of this sort are also coming up, solidifying our position as a green economy leader in North America.”
While both federal and provincial governments are actively collaborating with Volta on this endeavor, specific investment details from these government entities have yet to be disclosed. This development follows a recent announcement from a consortium involving Ford Motor Co. and South Korean companies, outlining plans to construct a C$1.2 billion facility for the production of EV battery materials in Becancour, further underlining Canada's commitment to becoming a key player in the rapidly evolving EV landscape.