Powerco and Umicore have created a new European battery materials business

Umicore and PowerCoa battery company backed by Volkswagen Group, announced the name and label of their first collaboration of this kind. for him ‘joint project’ Based in Brussels for large-scale industrial production Cathode active materials (CAM) and precursors (pCAM) in Europe It will be named after Eonway. The two companies aim to increase Ionway’s annual production capacity Up to 160 GWh annually Until the end of the contract that agrees 2.2 million battery electric cars.

Ionway is designed to supply PowerCo’s European battery cell factories Basic materials for batteries It covers a significant portion of PowerCo’s demand in the EU, while providing Umicore with guaranteed access to a significant portion of European demand for EV cathode materials.

Umicore and PowerCo are committed to this Expanding the EU’s footprint in electric mobility By creating Regional, sustainable and transparent battery supply chains. Cathode active materials are the key technological lever for battery performance, contributing most to the overall cost of the battery and determining its carbon footprint. Therefore, they are strategically essential elements for the value creation of batteries and crucial for the success of the transition towards sustainable electric mobility.