EIB completes $140 mln loan to Umicore for battery materials factory

By Dalila Ouerghi
Published: Monday, 15 June 2020

The European Investment Bank (EIB) has granted a €125 million ($140 million) loan to Belgium-based global material technologies and recycling group Umicore to partially finance the construction of a battery cathode material manufacturing facility in Poland.

The EIB loan will cover approximately half of the project costs in the initial phase, with cathode materials produced supplying battery manufacturers of high-tech lithium-ion batteries, the EIB said in a statement on Monday June 15.

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