Finland's first battery materials plant set for construction in Kotka

Finland's first battery materials plant set for construction in Kotka

Construction of Finland’s first cathode active material (CAM) plant will begin in April 2025 in Kotka. The facility, developed by Easpring Finland New Materials Oy, will supply materials for lithium-ion batteries used in electric vehicles and energy storage. The project is a joint investment between Beijing Easpring Material Technology, which holds a 70% stake, and Finnish Minerals Group, which owns 30%.

The factory will initially employ 270 people.

The factory is expected to begin commercial production in 2027.

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Head of Ownership Steering: “The question is good and the question is difficult.” State-owned company Suomen Malminjalostus said on Thursday that it and Chinese company Beijing Easpring Material Technology will build a factory in Kotka that will produce cathode active material needed for the production of lithium-ion batteries. Suomen Malminjalostus owns 30 percent of the joint venture building the factory. The Chinese company owns the rest.

The Keltakallio battery factory is an investment of approximately 800 million euros. There are only two similar plants in operation in Europe.