Umicore has received a €125 million loan from European Investment Bank (EIB) to help finance its investment into its cathode materials plant in Nysa, Poland.

Once completed, the plant will supply the European operations of Umicore’s global battery cell and automotive customers, the company said.

‘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,’ a press release said. ‘Umicore is proud to have obtained the support of the EIB for this strategic project.

This story uses material from Umicore, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.