Ecopro Establishes 'Korea-Canada-Hungary' Global Tripartite System

Ecopro aims to lead the battery materials market by completing a 'global triangular belt' connecting South Korea, Canada, and Hungary.

On the 23rd, Ecopro announced plans to establish 'Ecopro CAM Canada,' which will be responsible for constructing a battery cathode material plant in Becancour, Quebec, Canada.

Ecopro Pohang Campus Panorama

Joo Jae-hwan, CEO of Ecopro BM, explained, "In February, a local base was established with 100% ownership by Ecopro BM, and groundwork for the factory is already underway. Once the joint venture with SK On and Ford is established, construction of the plant will proceed in earnest."

Last week, Ecopro BM's management met with senior officials from the Canadian and Quebec governments, as well as executives from joint partners SK On and Ford, to finalize investment plans and schedules for the 'Becancour Project,' including investment amounts, location, and plant production capacity.

The Becancour Project involves an investment of 1.2 trillion KRW, including funds from Ecopro CAM Canada and subsidies from the Canadian and Quebec governments, to complete a cathode material production plant by 2026. Ecopro CAM Canada will handle construction and operation of the plant, while Ford and SK On will participate by investing capital. Upon completion, the plant is expected to produce 45,000 tons of cathode materials annually. All production will be supplied to Ford via SK On.

Ecopro described the Becancour Project as its first North American project under a global strategy to establish a 700,000-ton system by 2027, positioning itself as a leading global battery materials company.

EcoPro Anode Material Global Production System Graphic

Additionally, Ecopro BM is building a cathode material plant in Hungary. The groundbreaking ceremony was held in Debrecen, Hungary, in April, and currently, workforce recruitment and equipment installation are underway. The Debrecen plant, targeting mass production in 2025, involves an investment of approximately 1.3 trillion KRW. It will have a production capacity of 108,000 tons of cathode materials annually, enough for 1.35 million electric vehicles.

The Debrecen Project involves Ecopro BM and affiliated companies within Ecopro, including Ecopro Innovation, responsible for lithium hydroxide processing, and Ecopro AP, which supplies nitrogen and oxygen.

Domestically, Ecopro is establishing a value chain hub called the 'Blue Valley Campus (tentative name)' in Pohang, responsible for everything from cathode material raw materials to battery recycling. They have secured approximately 694,000 square meters of land within the Pohang Blue Valley National Industrial Complex and plan to invest 2 trillion KRW over five years until 2028.

Battery recycling will be handled by Ecopro CNG, precursor materials for cathode materials by Ecopro Materials, lithium hydroxide processing by Ecopro Innovation, and cathode materials by Ecopro BM and Ecopro EM. High-purity oxygen and hydrogen required for the processes will be supplied by Ecopro AP. Ecopro plans to integrate all necessary facilities for production processes and build a value chain to secure cost competitiveness and production efficiency.