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Johnson Matthey unveils partnership with Finnish Minerals Group to expand in electric vehicle batter

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Johnson Matthey PLC (LON:JMAT) has announced a partnership with Finnish Minerals Group to support the development of a second commercial plant powered by renewable energy.

The sustainable technologies group has also secured a long-term supply of raw materials for battery materials production, after clinching agreements with Nornickel for nickel and cobalt and SQM for lithium.

READ: Johnson Matthey to launch review of health business as profits rebound

The FTSE 100 firm is expanding into the electric vehicle battery market through the production of high-performance cathode materials.

It has begun the front-end engineering design for the commercial plant, which will be located in Vaasa, Finland, and aims to create an integrated electric vehicle battery value chain through the partnership with Finnish Minerals Group.

The latter, which manages the Finnish state’s mining industry shareholdings, will invest in two key areas.

Firstly to co-develop with JM an integrated solution to treat sodium sulphate, a common manufacturing by-product, providing a sustainable supply chain to conserve natural resources and protect the local environment.

Secondly, it will invest in pre-treatment technology of nickel and cobalt sulphates to tailor the materials to the requirements of high nickel cathode materials.

The site will only use locally generated renewable energy and the plan is to develop a sustainable heat recovery solution which feeds the local heating system network.

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