Finnish Minerals Group and Beijing Easpring are looking to set up a joint venture company for the construction and operation of the plant
Finnish Minerals Group and Beijing Easpring Material Technology have been investigating and negotiating the possibility to establish a CAM plant in Kotka, Finland with the initial capacity of 50,000 t/a and potential for future expansion for the production of cathode active material for lithium-ion batteries.
Finnish Minerals Group says in a recent company statement, that as part of the work, the companies have carried out the definitive feasibility study (DFS) and agreed to continue the cooperation on the plant project.
In preparation for the plant investment, Finnish Minerals Group and Beijing Easpring are looking to set up a joint venture company for the construction and operation of the plant. Finnish Minerals Group is aiming at becoming a minority owner in the joint venture company.
The rapidly growing production of lithium-ion batteries in Europe requires the establishment of a cathode active material industry in Europe. Based on the studies we have carried out together, the production facility planned to be established in Kotka is well set to succeed in the European market both in the short and long term, says Matti Hietanen, CEO of Finnish Minerals Group.
The plant is also an opportunity for Finland to further develop its high technology expertise and create new economic activity in the Kymenlaakso region and beyond. For our company, it is great to partner up with Beijing Easpring, one of the world’s leading producers of cathode active materials for lithium-ion batteries, he says.
Our cathode active material plant in Kotka is a key step for Easpring to carry out global layout. In the future, Easpring will continue to evaluate the feasibility of capacity expansion with the Kotka project, and production establishment possibility in other important regions globally as well, says Yunlong Guan, Deputy General Manager in charge of marketing and sales at Beijing Easpring.