The Finnish Minerals Group and Beijing Easpring Material Technology have announced plans to commence construction of a cathode active material (CAM) plant in Kotka, Finland. The facility, expected to start production in 2027, will have an initial capacity of 60,000 tonnes per year and employ approximately 270 workers.
The project, valued at around 800 million euros, will be undertaken by Easpring Finland New Materials Oy, a joint venture established in 2024. Beijing Easpring holds a 70% stake in the company, while the Finnish Minerals Group owns 30%. Financing will be sourced from shareholders, external loans, and subsidies, including a 100-million-euro investment from the Finnish government.
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The plant received its environmental permit in December 2024 under Finlandâs green transition priority procedure. Construction is slated to begin in spring 2025 on a 27.8-hectare site within the Keltakallio industrial area, with future expansion options already planned.
âOur partner, Beijing Easpring Material Technology, is one of the worldâs leading companies in cathode active material development and production, and we have collaborated with them for several years,â said Matti Hietanen, CEO of Finnish Minerals Group. âWith the Kotka CAM plant, we are creating a new industry for Finlandâs lithium-ion battery sector. Even at a European level, this project represents a key milestone for the battery value chain.â
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Global demand for CAM materials remains strong, with China leading production capacity. The industry, however, faces challenges, exemplified by Northvoltâs recent bankruptcy filing in Sweden.