Umicore expands cathode materials capacity in South Korea, China

Umicore expands cathode materials capacity in South Korea, China

10:17 AM, 28th April 2016
Umicore expands cathode materials capacity in South Korea, China

BRUSSELS, BELGIUM: Umicore NV said that it will invest €160 million over a period of three years for the production capacity expansion of nickel manganese cobalt (NMC) cathode materials in South Korea and China. The acceleration is required to meet a surge in demand for materials used in hybrid and electric vehicles.

Umicore will deploy its latest generation of proprietary production technologies which will enable the company to triple existing capacity by the end of 2018 across a broad range of material grades. These are in compliance with the very highest quality standards for the automotive industry. The new capacity comes on stream in the second part of 2017. 

Vehicle electrification is being driven by the need to reduce CO2 emissions and improve air quality. In many regions this is being supported by ambitious emission legislation. There is also a trend towards electrification of vehicles used for public transportation such as electric buses.

Umicore’s NMC cathode materials are key ingredients in enabling the improvements required for battery technology to increase driving range and reduce the total cost of electrified vehicle ownership.

“Umicore has a unique position in cathode materials and these investments underscore our ambition to be a global leader in materials that enable clean mobility. We are proud to be playing this role in sustainable transportation,” said Marc Grynberg, CEO of Umicore.

© Worldofchemicals News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Praxair invests $100 mn for the expansion of its Louisiana facility

DANBURY, US: Praxair Inc has invested $100 million in its Geismar, Louisiana, facility to expand its carbon monoxide production and support growing cu ...

Read more
Seven chemical separations to change the world

ATLANTA, US: Thermally-based industrial chemical separation processes such as distillation now account for 10 to 15 percent of the world’s annua ...

Read more
BASF expands waterproofing solutions capacity in Russia

BOLSHOE TOLBINO, RUSSIA: BASF SE said that its construction chemicals division has expanded the capacity of waterproofing solutions from the MasterSea ...

Read more
Clariant places €300 mn indebtedness certificates in German market

MUTTENZ, SWITZERLAND: Clariant SA has successfully placed €300 million of debt for certificates of indebtedness (Schuldschein) in the German mark ...

Read more
Technip gets Petrobras’ flexible pipes contract extension in Brazil

PARIS, FRANCE: Technip SA has signed a four years extension of its five-year initial contract signed in January 2011 with Petrobras SA for its flexibl ...

Read more
BioAmber bags CAD$10 million loan for Sarnia plant

MONTREAL, CANADA: BioAmber Sarnia Inc, a subsidiary of BioAmber Inc and a joint venture with Mitsui & Company has secured a Canadian $10 million l ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X