South Korea’s Eco & Dream to supply precursor to Umicore South Korea’s Eco & Dream Co., Ltd. announced that it has signed a contract to supply precursors to a Belgian cathode material manufacturer, Umicore N.V. Based on the contract, Eco & Dream’s precursors will be used by global OEMs for their electric vehicles (EVs) through Umicore’s network. The South Korean company will produce precursor at a plant in Cheongju-si, Chungcheongbuk-do. ...

News  Updated at: 2025/04/18

Umicore, Belgium announces mid-term plan, to decrease capex On March 27, Umicore announced its roadmap to 2028. It will focus on four key imperatives: Capital, Performance, People & Culture, and Partnerships. It is planning a 50% Capex reduction in Battery Cathode Materials and postponed battery recycling investment. It will invest in the Precious Metals Refining plant in Hoboken, Belgium.  It is planning Adj. EBITDA of between EUR 1.0 billion a...

News  Updated at: 2025/04/01

Umicore, Belgium announces pCAM EV battery supply agreements with CNGR and Eco&Dream On March 27, Umicore announced that it has entered into two separate agreements for the supply of precursor cathode active materials (pCAM) for electric vehicle batteries with CNGR and Eco&Dream Co., Ltd. (E&D). The pCAM, a critical component of EV batteries, will cater to Umicore's customer contracts in North America and Asia. The two mid-to-long-term contracts ...

News  Updated at: 2025/03/28

ope’s first fully local production of LHM, from raw material extraction to the final product. The lithium product will now be used in qualification processes already underway with Vulcan's offtake partners from the European automotive and battery industries, including Stellantis, Renault, LG and Umicore.  In this first project phase, Vulcan is aiming to produce 24,000 tonnes of LHM annually, which is enough for about 500,000 electric vehicles...

News  Updated at: 2025/01/16

”, developed by Bosch, was presented, addressing critical challenges and highlighting opportunities to drive innovation and sustainability within the mobility sector. The panel, participated by representatives from Thailand’s Board of Investment, Mercedes-Benz, Bosch, TÜV Rheinland Mobility, and Umicore, highlighted the importance of adaptability and flexibility in addressing evolving market conditions, technological advancements, and shifti...

News  Updated at: 2024/12/13

Umicore pauses construction of battery materials plant in Canada On November 6, Umicore shared details on the anticipated cost-saving measures, affecting its workforce in Battery Materials and other select areas. Umicore has decided to continue to pause construction of its battery materials plant in Loyalist, Ontario, Canada. The long-term supply agreement with AESC for high-nickel cathode active materials for the North American market will be se...

News  Updated at: 2024/11/06

Umicore, Belgium partners with U.S. Department of Energy’s Critical Materials Innovation Hub On August 13, Umicore announced its partnership with the U.S. Department of Energy’s Critical Materials Innovation Hub (CMI Hub) to advance sustainable and secure supply chains for critical materials essential to clean energy technologies. The CMI Hub, established in 2013 and led by Ames National Laboratory, is a multidisciplinary effort dedicated to ...

News  Updated at: 2024/08/13

Umicore reportedly delays CAD 2.8 billion Ontario EV battery materials plant Umicore is reportedly delaying plans for its CAD 2.8 billion (USD 2 billion) Ontario electric vehicle battery materials plant as consumer adoption falls short of expectations. Umicore had confirmed plans in October 2023 to build the cathode materials plant, but said in its half-year review on July 26 that it would put off spending on construction pending further analysis...

News  Updated at: 2024/07/30

Umicore to reduce workforce of its automotive catalysts business in Hanau, Germany On June 18, Umicore announced that it will reduce close to 140 positions or 14%t of its workforce in Hanau until 2027. These plans include voluntary leaver programs which were presented earlier this year.  Umicore reaffirms its commitment to its Automotive Catalysts business and automotive customers. Against the backdrop of the ongoing transition to electric mobil...

News  Updated at: 2024/06/19

Umicore, Belgium signs renewable electricity deal with Gasum, Finland On May 7, Umicore signed a second 10-year power purchase agreement (PPA) with Gasum, a Finland-based energy company, to source renewable electricity for its site in Kokkola, Finland. The Kokkola facility is where Umicore refines cobalt and produces precursor cathode active materials for electric vehicle batteries. Under the agreement, Gasum will supply Umicore with approximatel...

News  Updated at: 2024/05/08

tery unit PowerCo hosted more than 100 prospective suppliers in Toronto for a detailed briefing on its material and logistical requirements for the St. Thomas gigafactory.  PowerCo execs said the company already has a joint venture in Europe for cathode active material (CAM) with materials company Umicore and will be looking to extend that partnership to North America with local production.  The company’s St. Thomas plant will be its largest ...

News  Updated at: 2024/04/13

Umicore reveals more information about upcoming fuel cell catalyst plant in China On April 4, Umicore announced that its large-scale fuel cell catalyst plant in Changshu, Suzhou is expected to be operational in 2026. The Changshu plant will be a lot bigger than its existing fuel cell catalyst production sites. The new plant in China will begin with platinum catalysts, which are inherently more stable and therefore easier to manage from an operati...

News  Updated at: 2024/04/04

Umicore Korea to join InterBattery 2024 Several South Korean media sources reported that a cathode material manufacturer, Umicore Korea, will participate in the InterBattery 2024 in Seoul from March 6 to 8, 2024. The company will showcase its technologies for next-generation batteries, including high-lithium manganese (HLM) and solid-state batteries. It will also introduce its infrastructure at the company’s global R&D centers, including the on...

News  Updated at: 2024/03/08

EIB supports Umicore, Belgium for R&D in EV battery materials On February 7, Umicore concluded a EUR 350 million, eight-year-maturity loan with the European Investment Bank (EIB). The proceeds will be dedicated to fund part of Umicore’s European research, development, and innovation (RDI) in rechargeable battery materials technologies for electric vehicles (EV) and the recycling of EV batteries. The eight-year loan, benefitting from competitive...

News  Updated at: 2024/02/08

Umicore, Belgium partners with Microsoft to use AI for battery materials technologies development On January 18, Umicore entered into an agreement with Microsoft at the World Economic Forum (WEF) in Davos to use artificial intelligence (AI) as a means to facilitate and accelerate its research in battery material technologies for electric vehicles. The Battery Materials AI platform will take advantage of Microsoft’s Azure OpenAI Service, extende...

News  Updated at: 2024/01/19

Umicore breaks ground for its large-scale fuel cell catalyst plant in China On December 1, Umicore announced the groundbreaking ceremony in Changshu, Suzhou for its large-scale fuel cell catalyst plant.  The plant is expected to become operational in early 2026.  It is planned to be carbon neutral from the start and will contribute to reducing scope 3 emissions in the value chain. The plant is expected to become the world’s largest PEM cataly...

News  Updated at: 2023/12/06

u. It shows high lithium recoveries and thousands of cycles of sorbent life with no degradation. The renewable heat in the lithium brine resource will also enable Vulcan to produce with a net zero carbon footprint. Vulcan has lithium offtake agreements in place with Stellantis, Volkswagen, Renault, Umicore, and LG. Once Phase One commercial production commences, Vulcan’s ZERO CARBON LITHIUM business will produce enough lithium hydroxide for 500...

News  Updated at: 2023/11/27

Umicore signs agreement for renewable electricity for battery materials plant in Poland On October 31, Umicore entered into a 10-year power purchase agreement (PPA) with Ignitis Renewables to supply Umicore’s plant in Nysa, Poland, with renewable electricity.  This plant is Europe’s first and still only cathode active materials facility for electric vehicles and has been using renewable electricity only for its production, right from the sta...

News  Updated at: 2023/10/31

Umicore, Belgium expects 195 GW CAM production base by 2026 On October 17, Umicore announced that its order book in the battery materials business currently stands at 190 GWh contracted CAM (Cathode active materials) volumes for 2027 and reaches 270 GWh for 2030. It is well diversified across several battery and car manufacturers in Asia, Europe, and North America and covers entry, volume, and premium platforms for a wide variety of brands and ca...

News  Updated at: 2023/10/18

Umicore, AESC enter 10-year supply agreement for EV battery materials in U.S. On October 16, Umicore and AESC announced they have signed a ten-year agreement whereby Umicore will supply high-nickel battery materials for the production of EV batteries at AESC’s U.S. manufacturing facilities.  The agreement secures an annual volume offtake equivalent to 50 GWh of CAM by the end of the decade for battery materials that will power the EVs of AESC...

News  Updated at: 2023/10/18