Modeling image of the Kotka CAM plant. Photo: Finnish Minerals Group
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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 total investment is valued at approximately €800 million. The Finnish government will support the project by capitalising Finnish Minerals Group with €100 million.
The plant’s first-stage production capacity is set at 60,000 tonnes of cathode active material per year, with potential for future expansion. When fully operational, it could supply battery materials for around 750,000 electric vehicles annually.
During peak construction, the site will employ up to 800 workers. Once operational, it is expected to provide around 270 permanent jobs.
Easpring Finland CEO Jashon Guan highlighted the significance of the project for European battery production. “This investment marks a major milestone for Easpring as we establish localised production in Europe to serve the local market from Kotka,” he said.
Finnish Minerals Group CEO Matti Hietanen described the plant as a key development for Finland’s battery value chain. “Even on a European scale, this is a spearhead project for the industry,” he said.
The plant received its environmental permit in December 2024 under a priority procedure for green transition projects. In January 2025, a lease agreement was signed for 27.8 hectares of land in the Keltakallio industrial area.
The goal is to start commercial production in 2027.
HT
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Source: www.helsinkitimes.fi
