Construction of the cathode active material plant begins – groundbreaking ceremony was held in Kotka

The foundation stone of the CAM plant built by Easpring Finland New Materials Oy was laid on April 29, 2025, as a mark of the groundbreaking celebration in Kotka, Southeastern Finland.

During the event, a time capsule was buried in the foundation of the plant, containing the local newspaper of the day, Kymen Sanomat, Finnish euro coins, Chinese commemorative coins of 2025, project documents, and scripts of the speeches held in the ceremony.

The plant will be Finland’s first production site of CAM, which is a powdered material needed in lithium-ion batteries, the demand of which will increase significantly due to the electrification of transport. The material produced in Kotka will be used by battery manufacturers in Europe and around the world.

“This project began six years ago with a shared vision, to create a state-of-the-art facility that would not only meet the growing global demand for high-quality cathode materials but also set new standards for sustainability and innovation in the battery industry. The groundbreaking of the Kotka plant is a significant milestone in strengthening the battery materials production capabilities in Europe, which facilitates to be deeply integrated into local high-end industrial and supply chains,” states Dr. Chen Yanbin, Chairman of the Board of Beijing Easpring.

“I want to highlight the six years of determined work required to reach this point where we are today. I want to thank all the stakeholders in Finland, including Finnish Minerals Group, Business Finland, the City of Kotka, and many other partners, for the excellent collaboration we have had. We are laying the foundation for a more sustainable future and the transition to clean energy through this project and contributing to regional economic growth and employment,” says Jashon Guan, CEO of Easpring Finland.

“The beginning of the construction of the plant is an important step in developing the Finnish battery value chain. The battery industry as a whole can create thousands of new jobs and significant economic growth. At the same time, it helps Europe produce the materials required for the electrification of transport. I want to thank our partners at Easpring for the excellent cooperation over the past years,” says Matti Hietanen, CEO of Finnish Minerals Group.

The scope of the investment is around EUR 800 million, and around 800 people are expected to be working on the site during the peak construction period.

When operational, the plant will employ approximately 270 people at the first phase with a capacity of 60,000 tons per year. The company has the possibility to expand its capacity significantly to meet future growing demands.

According to the economic impact assessment conducted by consulting company Ramboll in 2024, at the first-stage capacity, the plant will create more than 180 million euros of tax revenue and increase Finland’s GDP by nearly 400 million euros.