€125m EIB loan helps finance battery materials production in Poland

Region:

Europe

The European Investment Bank has signed a €125 million loan deal with Belgium-based global materials technology and recycling group Umicore to finance part of the greenfield production facility for cathode materials in Poland.

The EIB financing will cover approximately half of the project costs in the initial phase. The cathode materials will be supplied to battery manufacturers of high-tech lithium-ion batteries that are primarily used in electric vehicles.

The greenfield facility will provide a reliable supply of advanced cathode materials, a key component for lithium-ion battery cell manufacturers in the region and worldwide.

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