Easpring is planning to construct a new plant to produce cathode active material, CAM, which is needed to produce lithium-ion batteries, in Kotka, Finland.
The plant’s first-stage capacity will be 60,000 tonnes of cathode active material per year.
The investment project is carried out by Easpring Finland New Materials Oy, established in 2024, of which Finnish Minerals Group owns 30% and Beijing Easpring Material Technology the rest.
The value of the investment project is approximately EUR 800 million.
The Finnish government will capitalize Finnish Minerals Group with EUR 100 million.
“Our partner, Beijing Easpring Material Technology, is one of the world’s leading companies developing and producing cathode active material, and we have been cooperating with them for several years. With the Kotka CAM plant, we are creating an entirely new kind of industry in Finland,” says Matti Hietanen, CEO of Finnish Minerals Group.
”Through this strategic investment, we will be able to serve the needs of European customers,” says GUAN Zhibo, CEO of Beijing Easpring Material Technology.
Approximately 80 hectares have been reserved for the project in the Keltakallio industrial area in Kotka, and a lease for the 27.8 hectares needed for the first phase was signed in January 2025.
At first-stage capacity, the plant would directly employ approximately 270 people.
The construction will start in the spring of 2025, and the goal is to launch commercial production in 2027.
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