Umicore and PowerCo Announce €1.7 Billion Investment in Polish Battery Materials Plant
Umicore and PowerCo are pooling resources to invest nearly €1.7 billion in a new production facility for electric vehicle battery materials in Nysa, Poland. The facility will focus on the creation of active cathode materials (CAM).
The collaboration between these two companies led to the formation of the IONWAY project earlier this year. The facility will be located in the Walbrzych Special Economic Zone Invest-Park in Nysa. With this move, Umicore is further cementing its presence in Poland, as this marks its third investment in the country and its second dedicated to cathode battery materials.
Construction of the Nysa facility is set to begin later this year, and production is expected to start in 2026. This project is estimated to bring around 900 jobs to the area by 2030.
The decision to base the facility in Nysa was influenced by the city's strategic location in Central Europe and its efficient transportation links. These logistics will be beneficial for supply chain management. Additionally, the region's proximity to major universities and research institutions means that the facility will have access to skilled professionals.
This venture is anticipated to provide Umicore with consistent orders and PowerCo with a regular supply of cathode materials, signaling a promising future for both companies in the Polish battery market.
