Groundbreaking ceremony in Keltakallio – Easpring Finland Launches a New Era in Kotka

A historic milestone was celebrated on Tuesday, April 29, in Kotka’s Keltakallio area as Easpring Finland New Materials Oy laid the foundation stone for Finland’s first cathode active material (CAM) production facility for lithium-ion batteries. The plant marks a significant step forward in the development of the Power Coast battery cluster and strengthens the region’s position in Europe’s green transition.

International Groundbreaking Ceremony

Around 150 guests from Finland and China attended the event. The speakers highlighted the strategic importance of the investment for both the European battery industry and the economic development of the Kotka-Hamina region. Speeches were given by:

Mr. Tongqing Wang, Ambassador of China to Finland
Mr. Wille Rydman, Minister of Economic Affairs of Finland
Mr. Matti Hietanen, CEO of Finnish Minerals Group
Dr. Chen Yanbin, Chairman of the Board, Beijing Easpring
Mr. Jashon Guan, CEO of Easpring Finland
Mr. Sami Virtanen, Chairman of the City Board of Kotka
Mr. Zhang Xiaoqiang, CEO of China Harbour Engineering Company

As part of the ceremony, a time capsule was embedded in the foundation. It contained a local newspaper (Kymen Sanomat), Finnish and Chinese commemorative coins, speeches from the event, and project documentation.

“Long-term work is now becoming reality”

“This is a milestone that has been years in the making. Easpring’s investment strengthens the Kotka-Hamina region as a key hub for battery industry development. We’ve created an operating environment where industrial investments can grow and internationalize. This foundation stone represents not just the beginning of a building, but a symbol of a broader regional transformation,” says Ilkka Hasanen, Director of Invest In operations, Cursor Oy.

Community Engagement Through Open Doors

The following morning, on April 30, the site was opened to local residents for a public open house event. The first hundred visitors were welcomed with traditional Finnish sima, doughnuts, and balloons. Guests were introduced to the factory plans and had the opportunity to learn more about the industrial development taking shape in their community.

The event reflected the Power Coast spirit of collaboration – here, major developments are built together. Easpring’s investment brings not only jobs and new business opportunities, but also reinforces the region’s role as a key player in Europe’s electrification journey.

Production Starts in 2027

Easpring Finland’s facility is expected to begin production in 2027. In its first phase, the plant will produce 60,000 tons of CAM annually and directly employ approximately 270 people. The total investment is around EUR 800 million. According to an impact assessment by Ramboll, the plant will generate over EUR 180 million in tax revenue and boost Finland’s GDP by nearly EUR 400 million.

Power Coast is the growth platform for battery industry in Finland – where expertise, infrastructure, and willpower meet.

Learn more: www.powercoast.fi