Ionway, a joint venture between Umicore and PowerCo, is set to build its first cathode active materials (CAM) plant in Nyasa, Poland.
The new facility will supply CAM and its precursor materials (pCAM) to PowerCo’s European battery cell gigafactories, where electric vehicle battery cells are produced. CAMs are considered to be the most valuable EV battery asset, according to Ionway.
The plant location was chosen for its access to renewable energy sources which will power production along with the area’s skilled workforce, according to the company. The project is expected to generate more than 900 industry jobs in Poland, and Ionway aims to operate the facility on a carbon-neutral basis.
The Polish government will support the building of the plant with over $370 million in cash grants under the Temporary Crisis and Transition Framework, with a total investment of up to $1.8 billion by the end of the decade.
“We are thankful for the Polish government’s support in IONWAY’s choice for Nysa,” said Mathias Miedreich, CEO of Umicore. “The strategic location of the joint venture’s battery materials plant in Poland, right next to Umicore’s own battery materials plant, which is still unique in Europe, will further enable the transition to electric driving that is truly sustainable.“
Ionway Brings Together EV Battery Production, Circular Materials Technology
Ionway was formed in 2021 by PowerCo, Volkswagon Group’s battery company, and Umicore, a circular materials technology company. The joint venture aims to create a large-scale, secure supply chain of battery materials to accelerate clean electric mobility. Umicore’s battery recycling services offer a sustainable, long-term source of critical materials needed for PowerCo EV battery production.
The partners aim to grow their annual production capacity of batteries to 160 gigawatt hours by 2030, enough to manufacture about 2.2 million EVs.
Similar partnerships have arisen as car companies scale up EV production. Earlier this year, GM and POSCO Future M, an advanced materials company, announced a joint venture for the production of CAM in North America. Toyota and Redwood Team also recently began efforts to increase the use of repurposed and remanufactured batteries for Toyota vehicles.
As the EV supply chain grows, many companies are looking to ensure a circular, low-emissions supply chain that may allow EVs to contribute to environmental wellbeing even before reaching consumers.
