Umicore to produce battery materials in Canada
Umicore plans to construct a manufacturing facility for cathode active battery materials (CAM) and their precursor materials (pCAM) in Ontario, Canada
The planned facility is said to be the first of its kind in North America, combining cathode and precursor materials manufacturing at a large industrial scale and thereby completing "the missing link" in Canada’s battery value chain, from natural resources to electric mobility, a press release reads.
Umicore and the Government of Canada have signed a Memorandum of Understanding to finalise the support application of the project under the Strategic Innovation Fund. This MoU follows a recently signed agreement with Loyalist Township to secure a plot of land of about 350 acres in Loyalist, Ontario, to this effect.
The company is targeting to start construction in 2023 and operations at the end of 2025, with the potential to reach by the end of the decade an annual production capacity capable of powering approximately one million EVs.
Umicore says it will also explore opportunities for metals refining and battery recycling in North America, and that the company is in negotiations with several potential customers for production contracts in North America.
Umicore’s intention to establish its new facility in Loyalist Township is another major step forward as we make Canada a global leader in producing electric vehicles – from minerals to manufacturing. With over 1,000 good jobs to build the plant, and hundreds of permanent positions once it is up and running, this new facility will play an important role in Canada’s clean automotive sector well into the future, said Justin Trudeau, Prime Minister of Canada, in the press release.
