Jun 18, 2020
Umicore secures EIB loan of €125M for battery components factory in Poland
The European Investment Bank (EIB) has signed a €125M loan with Umicore to finance the construction of a cathode material manufacturing facility in Poland. The cathode materials will be supplied to battery manufacturers of lithium-ion batteries for electric vehicles. This will also result in creating around 350 full-time jobs.
The EU sees the transition to cleaner mobility is a priority to drastically reduce CO2 emissions while achieving growth. That’s why the European Battery Alliance was established.
The EIB support granted to Umicore for this strategic project shows that the EBA is delivering. Through its integrated European battery materials supply chain, the Belgian company plays an active role in building a competitive and sustainable battery ecosystem in Europe.
Read the original press-release on EIB’s website
Image: credits to ©Maciej Zych/Umicore
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