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