The planned Finnish cathode material production plant in the town of Kotka has entered its construction phase. Project sponsor is the Easpring Finland New Materials Oy joint venture, established in 2024, in which the Finnish Minerals Group holds a 30-percent stake and Beijing Easpring Material Technology a 70-percent stake. In the first phase, the plant is expected to annually supply up to 60,000 tons of cathode material for lithium-ion batteries. Production is scheduled to start in 2027.
800-million-euro project on 28 hectares
According to the company, the investment amounts to approximately 800 million euros. In addition to the two ownersʼ own funds, the project will be financed by external loans and subsidies from the Clean Transition Aid Scheme for Industrial Investments. For this purpose, the Finnish government will provide Finnish Minerals Group with a capital injection of 100 million euros. The site in the Keltakallio industrial area in Kotka covers approximately 80 hectares of which 27.8 hectares have been leased for the first phase of construction. The environmental permit had been granted under an accelerated procedure at the end of 2024.
