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
