CNGR Finland Oy to drive the battery materials plant in Hamina
Thorsten Lahrs has been appointed as the CEO of the new company.
5. May 2022
In late 2021, Finnish Minerals Group and technology company CNGR Advanced Material announced their plan to establish a new joint venture company to build the pCAM plant that will produce precursor material in Hamina. Now, the joint venture has been founded and given the name CNGR Finland Oy. CNGR Advanced Material owns 60 per cent and Finnish Minerals Group 40 per cent of the new company.
“The joint venture company is an important step towards the implementation of the pCAM plant in Hamina. The plant is an essential part of building a battery value chain in Europe, and it helps to curb the CO2 emissions,” says Vesa Koivisto, SVP, Battery Operations at Finnish Minerals Group.
Thorsten Lahrs from Germany has been appointed as the CEO of the joint venture company and will be working mainly from Finland. He has a wealth of experience in chemical industry and the production of battery materials globally.
“The Hamina plant will be a state-of-the-art production facility, producing precursor cathode active material with an unprecedentedly low carbon footprint. With the starting of the joint venture’s operations, our project gains fresh momentum,” Lahrs states.
Europe currently produces less than 7% of lithium-ion battery cells globally, and as demand grows, production is expected to rise to 15% over the next 10 years. The production of cells requires precursor cathode active material that is not yet produced in Europe.
More information for the media:
Vesa Koivisto, SVP, Battery Operations, Finnish Minerals Group, vesa.koivisto(at)mineralsgroup.fi, +358 50 453 6322
Thorsten Lahrs, CEO, CNGR Finland Oy, email@example.com, +49 151 555 31 379
Precursor cathode active material: Preliminary stage of the cathode active material used in lithium-ion batteries. Abbreviated as pCAM.
The mission of Finnish Minerals Group is to responsibly maximise the value of Finnish minerals. We manage the State’s mining industry shareholdings and strive to develop the Finnish value chain of lithium-ion batteries. In addition, we are engaged in long-term technology development of the mining and battery industry. Through our work, we contribute to Europe moving towards electric transport and a more sustainable future. www.mineralsgroup.fi