The groundbreaking ceremony of Finland's first cathode active material plant was held in Kotka
The newspaper of the day and Finnish and Chinese coins were buried in a time capsule during the groundbreaking ceremony of our associated company’s plant project.
29. April 2025
Finland’s first production plant for NMC (nickel-manganese-cobalt) cathode active material is now under construction in Kotka. The material is needed for lithium-ion batteries, and its demand will increase in the coming years due to, for example, the electrification of transport. The materials produced in the Kotka plant will be supplied to battery cell manufacturers.
The plant project is implemented by Easpring Finland Oy, which Finnish Minerals Group owns as a joint venture with Beijing Easpring Material Technology, one of the leading global producers of cathode active materials for lithium-ion batteries. Production at the plant is scheduled to start in 2027.
During the ceremony, 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, project documents, and scripts of the speeches held in the ceremony, among other things.
“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 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.
The scope of the Kotka investment is around EUR 800 million, and around 800 people are expected to work on the site during the peak construction period.
In the operational phase, the plant is expected to directly employ approximately 270 people at the first-stage capacity of 60,000 tons. The plant will also create significant indirect employment effects. The plant has the possibility to expand its production capacity to meet future demand.
According to the economic impact assessment conducted by consultancy company Ramboll in 2024, the plant will create more than EUR 180 million of annual tax revenue for Finland and increase Finland’s GDP by nearly EUR 400 million at the first-stage capacity when operational.
More information for the media:
Matti Hietanen, CEO, Finnish Minerals Group
firstname.lastname(at)mineralsgroup.fi, tel. +358 40 823 8806
Timo Strengell, SVP, Battery Value Chain, Finnish Minerals Group
firstname.lastname(at)mineralsgroup.fi, tel. +358 40 738 4860
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. Through our work, we contribute to Europe moving towards electric transport and a more sustainable future. www.mineralsgroup.fi