15 June 2020
EIB grants € 125 million loan to support Umicore’s European rechargeable battery materials activities
Umicore has concluded a € 125 million loan agreement with the European Investment Bank (EIB). The proceeds of the loan, which has a maturity of eight years, will finance part of Umicore’s investment in the cathode materials plant in Nysa, Poland. Once completed, this greenfield plant will supply the European operations of Umicore’s global battery cell and automotive customers.
The transition to cleaner mobility is a priority in the European Union’s efforts to drastically reduce CO2 emissions and Umicore is well positioned to support this transition. Through its integrated European battery materials supply chain, Umicore will significantly contribute to the European Union’s plans to create a competitive and sustainable battery ecosystem in Europe. Umicore is proud to have obtained the support of the EIB for this strategic project.
A video of the construction of our cathode materials plant in Poland can be found here.
A link to the press release issued by the EIB can be found here.