Historic moment in Kotka - construction of the Easpring cathode materials plant starts
Easpring Finland New Materials Oy has today announced the start of construction of a cathode materials plant in the Keltakallio industrial area in Kotka. In a press release issued earlier today, Easpring announced that it has received the environmental and building permits, and the project will therefore move to the next stage. This significant investment will bring new jobs to the region and support the growth of the battery industry in Europe.
Easpring’s investment is a major milestone for Kotka, Kymenlaakso and the whole of Finland. Kotka will strengthen its position as a key centre for industry and the battery sector, and this investment will not only bring new jobs to the region, but also vitality to the local economy and service sector. The whole of Kymenlaakso will benefit significantly from the investment through increased employment and the vitality of the region. The Kotka-Hamina region has long been a powerhouse of industry and logistics and the Easpring plant will bring even greater growth potential to the region. The investment will also support Finland’s objective to strengthen its role as a leading player in sustainable energy and the battery industry in Europe, while promoting the green transition and creating new business opportunities.
Easpring’s cathode materials plant in Kotka will be a significant part of the industrial development of the region, bringing a completely new battery industry on top of the traditional process industry. The first phase of the plant is planned to have a capacity of 60 000 tonnes of cathode material per year. This material is a key component in the production of lithium-ion batteries, in particular for the production of batteries for electric vehicles. Construction of the plant will start in April 2025, with commercial production scheduled to start in 2027.
During the construction phase, the plant will employ around 800 people at any one time. When it reaches the first production phase, it will directly employ around 270 people. The total value of the investment is approximately EUR 800 million and will be carried out by Easpring Finland New Materials Oy, a company owned by Beijing Easpring Material Technology (70%) and Suomen Malmijalostus (30%), based in Kotka, Finland.
“It is a pleasure to see the long-prepared project moving forward and taking shape, with the final pieces of the big puzzle starting to fall into place. The construction of the Easpring cathode materials plant is a significant step, not only for Kotka, but for the whole of Finland. In regional economic terms, it will strengthen the position of the city of Kotka as a major centre for industry and the battery sector. We are delighted that long-term work and extensive cooperation with the technology provider, Finnish Malmijalostus Oy and all the other operators are producing such results. We look forward to the start-up of this plant and other new openings“, says Esa Sirviö, Mayor of Kotka, thanking the good cooperation with all parties involved.
“It is a great feeling to be involved in supporting the work of Suomen Malmijalostus Oy, Business Finland and various actors to develop the battery value chain in Finland and we warmly welcome Easpring to the Kotka-Hamina region. Easpring’s decision significantly strengthens our region’s role in achieving the goals of Finland’s battery strategy and positively supports our story as a successful region undergoing restructuring in South-East Finland“, says David Lindström, CEO of Cursor Oy.
MORE INFORMATION
David Lindström, CEO, Cursor Oy
Tel. 040 190 2501
david.lindstrom@cursor.fi
Photo by Marko Laukkarinen