Johnson Matthey to receive $150M Funding from European Development Banks for Battery Materials Project in Poland

Johnson Matthey, a global chemicals and sustainable technologies group receives funding for a new battery materials plant in central Poland from two leading development banks.

The joint financing comprises a €90 million ($105.56 million) loan from the European Bank for Reconstruction and Development and a €45 million ($52.78million) loan from KfW IPEX-Bank.

Johnson Matthey will use the factory in Konin to produce cathode materials for electric car batteries. The plant will become the world’s first production site of the company’s branded eLNO, a portfolio of ultra-high energy density next generation cathode battery materials. These are expected to improve the performance of lithium ion batteries and help promote electric vehicle usage on a larger scale.

The production capacity in Konin will be 10,000 metric tons per year of eLNO, enough for around 100,000 fully electric vehicles. In addition, the site, which will start production in 2022, has the potential to expand tenfold through further investment. Construction of the plant began this year. The company is also building a plant for eLNO battery materials in Clitheroe, UK.

Johnson Matthey aims to make the manufacturing of its products energy efficient by using automation technology and electricity from renewable sources.

The group also plans to reduce emissions from battery production to minimise the environmental impact and has committed itself to the United Nations’ Sustainable Development Goals. More broadly, as part of the Global Battery Alliance, the company is helping to make the battery value chain more sustainable.

“Construction of the new plant in Konin is a significant milestone in the commercialisation of our eLNO battery cathode materials. Supported by this funding, we plan to have eLNO in production on auto platforms by 2024, enabling the shift to electric vehicles and a cleaner, healthier world for us all,” Christian Günther, Chief Executive, Battery Materials at Johnson Matthey said.