Ionway, a joint venture between Umicore and Volkswagen's Powerco, is in the spotlight as it reviews potential sites for its second electric vehicle battery components factory, with Gijón, Spain, in contention. Despite progressing with environmental procedures for a project at El Musel port, the company confirms that no definitive location decision has been made. The selection process emphasizes the importance of formalities and public support, mirroring the strategy for its first factory in Nysa, Poland, which secured 350 million euros in public aid against a 1,700 million euro investment.
In Poland, Ionway aims to produce high-performance active cathode materials (ACMs) crucial for electric vehicle batteries. The proposed second plant would focus on precursors for ACMs, using cobalt, nickel, and manganese sulfates. The significance of these materials in enhancing lithium-ion battery performance cannot be overstated.
Discussions with the Principality of Asturias began in October 2022, exploring the possibility of situating the pCAM plant within El Musel's expansion. With an initial investment pegged at 594 million euros and potential to surpass 1 billion euros, the project's ambition is clear. A recently publicized integrated environmental authorization request, accompanied by a preliminary project proposal by Spanish consulting firm Macvalnera, underscores the extensive site evaluation process, with El Musel emerging as a leading candidate.
Ionway's cautious stance, emphasizing a thorough review of all options, reflects its commitment to contributing positively to energy transition and economic decarbonization efforts, particularly in Asturias. The Asturian business community, represented by María Calvo of the FADE employers' association and Félix Baragaño of the Gijón Chamber of Commerce, has expressed strong support for the project. They advocate for administrative agility and financial backing to facilitate the project's realization, drawing parallels with successful past investments in the region.
