Battery industry A plant for hundreds of millions of euros in battery materials is planned for Vaasa

British chemical company Johnson Matthey plans to establish a battery materials plant in Vaasa. The project involves the state-owned investment company Suomen Malmijalostus. The company does not disclose the value of the investment, but it would inevitably be hundreds of millions of euros.

“The strategic partnership with Finnish Ore Refining is an important milestone for us in developing an ecosystem of sustainably produced battery materials, and it shows our progress in commercializing our business. Sustainability is at the heart of our strategy and increasingly important to both our customers and consumers. We are pleased to start cooperating with Finnish Ore Refining to bring cathode materials to market, ”says Johnson Matthey, CEO Robert MacLeod in the bulletin.

President of the Finnish Ore Processing Plant Matti Hietanen According to him, the goal is to create increasingly sustainable solutions for the mining and battery industries through long-term work.

“Our strategic cooperation agreement with Johnson Matthey for the planned battery material plant in Vaasa opens up an opportunity for us to continue the development of critical sub-processes at the plant material production scale,” Hietanen says in a press release.

In February Finnish Ore Processing said he was negotiating the establishment of a hundreds-million-euro battery materials plant with the Chinese company CNGR Advanced Material.

Both projects are the government’s goal to increase the processing and manufacture of battery materials in Finland, as demand for electric vehicles is growing strongly.

“The good news about the construction of the Finnish battery cluster continues. The planned large investment in Vaasa is a continuation of the previous news from Suomen Malmi Refinery about a precursor plant planned for Finland. Finnish know-how and a stable investment environment support development and investments in Finland in accordance with the national battery strategy, says the Minister of Labor Tuula Haatainen (sd) in the bulletin.

Minister of Economic Affairs Mika Lintilän (middle) believes that the planned investment shows that Finland is an encouraging environment for projects in the battery sector.

“The investment is partly the result of long-term work for the benefit of the Finnish battery industry and for obtaining investments. At the same time, the news underscores the importance of a fresh battery strategy as a clarifier of future prospects. The cornerstones of the strategy include the availability and processing of responsibly produced raw materials, as well as strong production and research activities for battery materials and recycling. Undoubtedly, investments that are also important for the regional economy will also feed other new investments in Finland, ”Lintilä says in the press release.

The news is updated.

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