Ionway, a Europe-based battery materials producer and a joint venture backed by Volkswagen’s PowerCO and Umicore, is set to construct its first Cathode Active Material (CAM) production plant in Nysa, Poland.
The facility is planned to be located adjacent to Umicore’s existing CAM plant.
Ionway has plans to ramp up its annual production capacity to 160 GWh by the end of the decade. This new venture is anticipated to generate around 900 jobs in Nysa.
Furthermore, the Polish government is offering the company EUR350m in cash grants as part of the Temporary Crisis and Transition Framework, aiming for a cumulative investment reaching up to EUR1.7bn by the decade’s end.
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