Easpring Finland to Start Construction of CAM Plant in April 2025

Easpring Finland New Materials Oy plans to start construction work on the plant in April 2025 in the Keltakallio industrial area in Kotka. The plant received a legally binding environmental permit in December 2024 and a construction permit for the first buildings in February 2025. The company aims to start commercial production in 2027.

The plant is planned to have a capacity of 60,000 tonnes of cathode active materials (CAM) per year in the first phase, with the company having the potential to significantly expand capacity to meet future demand growth. The first phase is expected to directly employ around 270 people. In addition, the project will generate direct and indirect labour requirements already during the construction phase. At peak construction, around 800 people are expected to work on site.

The plant represents an investment of around €800 million and is being built by Easpring Finland New Materials Oy, a company founded in 2024 in which Beijing-based Easpring Material Technology owns 70% and Finnish Mining Group owns 30%. Easpring Finland New Materials Oy has applied for financing for the plant construction through the Clean Transition Aid Program for Industrial Investments.

“We have been planning this investment together with our partner Finnish Mining Group for many years and have received strong support from our local partners, the City of Kotka and Cursor Oy. This investment marks an important milestone for Easpring as we now have localized production in Europe to serve the local market in Kotka,” said Jashon Guan, CEO of Easpring Finland.

Cathode active materials are a key ingredient in lithium-ion batteries, which are used in electric vehicles. In the future, Kotka’s CAM production will mainly be supplied to European battery manufacturers that provide battery solutions for electric vehicles (EVs). When the Kotka CAM plant reaches full capacity, it will supply cathode materials for approximately 750,000 EVs per year, depending on the battery size of the EV.

“We are pleased to start construction of the first cathode active materials plant in Finland. Based on the proven technology of our parent company Beijing Easpring Technology, our Kotka plant will provide European battery customers with sustainably produced state-of-the-art cathode materials,” said Vesa Koivisto, Chief Commercial Officer of Easpring Technology Finland.