Umicore to Proceed with Construction of Battery Materials Plant in Canada
“Umicore’s investment in Canada represents the final step in creating a truly global production presence with our local-for-local, sustainable EV battery material value chains. Our regionally integrated battery value chains, which are already in place in Europe and Asia, give our customers worldwide the security of supply of these critical and decarbonized battery materials in their fast transformation towards clean, electric mobility,” commented Mathias Miedreich, CEO of Umicore.
The company’s new production facility will combine the production of precursor (pCAM) and CAM, the most critical components for a rechargeable battery’s performance. According to Umicore, the plant will be fully equipped to produce the most advanced high-nickel technologies and is prepared for future battery chemistries, including manganese-rich HLM and solid-state batteries.
The investment is part of Umicore’s previously announced plans and amounts to € 1.27 billion until 2026. Given the significance of the plant for the North American EV supply chain and a strengthened EV battery ecosystem, Umicore said, it will receive substantial financial support from the Governments of Canada and Ontario for this project.
Umicore expects to start construction of the site this year and to have the plant operational by the end of 2025, with production ramping up from 2026.