Landmark financing supports the establishment of a strategic cathode active material production facility, enabling European energy transition.
Easpring Finland New Materials Oy has successfully secured a €514.4 million green financing package to support the development and construction of its cathode active material (CAM) manufacturing plant in Kotka, Southeast Finland.
The financing marks a major milestone for the project and underlines strong lender confidence in Easpring Finland’s strategy to establish a leading European source of high-performance cathode materials critical to the energy transition and electrification of transport.
Societe Generale acted as sole financial advisor to the financing arrangement, and Societe Generale and Natixis served as mandated lead arrangers (MLA). The financing involved another four international banks (DNB, ICBC, ING and Standard Chartered) as well as the export credit agencies Finnvera and Sinosure, reflecting broad support for the project’s strategic importance to the European battery ecosystem.
A key project in the region
The Kotka facility will manufacture cathode active materials used in lithium-ion batteries for electric vehicles and energy storage applications. Once operational, the plant is expected to play an important role in strengthening Europe’s localised battery value chain, supporting regional supply security and advancing the continent’s decarbonization objectives.
With a planned first-phase production capacity of 60,000 tonnes of cathode active material per year, the facility is expected to become one of the largest CAM plants in Europe and a key contributor to regional battery supply chain security.
The project will incorporate advanced manufacturing technologies and high environmental standards aligned with Easpring Finland’s sustainability objectives.
The Kotka CAM plant represents a substantial industrial investment in Finland. It is expected to supply leading battery manufacturers across Europe including LG Energy Solution (LGES), AESC and SK On, helping to meet growing demand for locally sourced battery materials as the region accelerates its transition toward low-carbon transportation and energy systems.
A reflection of long-term strategic priorities
The project is a joint venture owned by Beijing Easpring Material Technology (70%), Finnish Minerals Group (28.3%) and LG Energy Solution (1.7%). For Beijing Easpring, one of the world’s leading cathode active material producers, the project establishes a strategic European manufacturing base that enables the company to serve customers locally, strengthen supply chain resilience, and support the growing European electric vehicle and battery sectors. For FMG, the project is closely aligned with its mission to develop Finland’s battery value chain, maximize the value of Finnish minerals, and support Europe’s transition to electric transportation. The facility represents a cornerstone investment in building an integrated and competitive European battery ecosystem.
“The successful completion of this financing is a significant achievement for Easpring Finland and an important step toward the realization of our Kotka project. The strong support demonstrated by our financing partners validates the strategic value of the project and our commitment to supplying high-quality cathode active materials to the European market. The Kotka facility establishes a strategic manufacturing platform in Europe and contributes to the development of a resilient battery supply chain while supporting Europe’s clean energy transition. It is also expected to foster greater collaboration and development across the battery value chain in Finland and Europe,” says Jashon Guan, CEO of Easpring Finland.
Further information for the media:
Vesa Koivisto
Chief Commercial Officer
Easpring Finland New Materials Oy
+358 50 453 6322
firstname.lastname(at)easpring.fi
Easpring Finland New Materials
Founded in 2024, Easpring Finland New Materials Oy produces cathode active materials for the European production facilities of Easpring’s existing and new customers. The majority owner of the company (70%) is Beijing Easpring Material Technology Co., Ltd., one of the world’s leading producers of cathode active materials for lithium-ion batteries. State-owned company Finnish Minerals Group Oy holds a 28.3% stake, and South Korean battery company LG Energy Solution holds 1.7%. www.easpring.fi
Beijing Easpring Material Technology
Beijing Easpring Material Technology Co., Ltd. is a leading global producer and developer of cathode active materials for lithium-ion batteries. The company supplies advanced battery materials to leading battery manufacturers serving the electric vehicle, energy storage and consumer electronics sectors. www.easpring.com
Finnish Minerals Group
The mission of Finnish Minerals Group is to responsibly maximise the value of Finnish minerals. We manage the State’s mining industry shareholdings and strive to develop the Finnish value chain of lithium-ion batteries. Through our work, we contribute to Europe moving towards electric transport and a more sustainable future. www.mineralsgroup.fi
