The construction phase of the Kotka cathode material plant is starting
Easpring Finland New Materials Oy is aiming to start the plant construction work in
the Keltakallio industrial area in Kotka in April 2025. The plant received a legally
binding environmental permit in December 2024 and was granted the construction
permit for the first buildings in February 2025. The company’s goal is to launch
commercial production in 2027.
The plant’s first-stage capacity is planned to be 60,000 tonnes of cathode active material
(CAM) per year, and the company has the possibility to expand the capacity significantly to meet future demand growth. At first-stage capacity, the plant is expected to directly employ approximately 270 people. Additionally, the project will create direct and indirect labour demand already in the construction phase. During the peak construction period, around 800 people are expected to be working on the site.
The plant investment of approximately EUR 800 million is carried out by Easpring Finland New Materials Oy, established in 2024, of which Beijing Easpring Material Technology owns 70% and Finnish Minerals Group owns 30%. Easpring Finland New Materials Oy has applied for financing for the plant construction through the clean transition aid scheme for industrial investments.
“We have been planning this investment together with our partner Finnish Minerals Group for several years and have also received strong support from our local partners, City of Kotka and Cursor Oy. This investment marks a major milestone for Easpring as we now establish localized production in Europe to serve the local market from Kotka,” says Jashon Guan, CEO of Easpring Finland.
Cathode active material is a key component of lithium-ion batteries, which are used in
electric vehicles, energy storage, and other end-use applications. The future CAM
production in Kotka will be delivered primarily to European battery cell manufacturers
supplying battery solutions for electric vehicles (EV). When the Kotka CAM plant reaches
full production volume, it will supply cathode material for the production of approximately 750.000 EVs annually, depending on the battery sizes in EVs.
“We are excited to commence the construction of the first cathode active material plant in Finland. Building on the proven technologies of our parent company Beijing Easpring, our Kotka plant will supply sustainably produced state-of-the-art cathode materials to
European battery cell clients,” says Vesa Koivisto, Chief Commercial Officer of Easpring
Finland.
Further information:
Vesa Koivisto, CCO, Easpring Finland New Materials Oy
firstname.lastname(at)easpring.fi, +358 50 453 6322
Easpring Finland New Materials Oy
Established in March 2024, Easpring Finland New Materials Oy is a joint venture of which
Beijing Easpring Material Technology Co., Ltd., listed in ChiNext, owns 70 percent and
Finnish Minerals Group 30 percent. The purpose of the company is to produce cathode
active materials for the needs of the European production facilities of Easpring’s existing
and new customers. www.easpring.fi