South Korea’s Solus to Build Canada’s First Copper Foil Plant for EV Batteries

Solus Advanced Materials, a South Korean company specializing in copper foil, has announced that its subsidiary, Volta Energy Solutions Canada, has finalized an agreement with Investissement Québec. The agreement secures financial incentives for the construction of the first copper foil plant in Canada, located in Quebec, to support the electric vehicle (EV) battery industry.

The Quebec government had previously committed 150 million Canadian dollars (USD 110.7 million) in financial incentives when Solus began the plant's construction in September of last year. Both parties have now concluded negotiations on an interest-free loan, while discussions on additional support, including tax credits and workforce training, are ongoing.

The plant, located in Quebec’s Granby region, will be the company’s second copper foil production facility outside of South Korea, following its first in Hungary. The Canadian plant is expected to begin mass production in 2026 with an initial annual output of 25,000 tons, eventually reaching a capacity of 63,000 tons.

Solus is also planning to engage in further negotiations with the Canadian federal government for additional support later this year.