In July 2022, Belgium-based Umicore announced it would invest $1.5 billion in an EV battery materials plant in Loyalist, Ontario. Umicore will produce two types of battery materials – cathode active materials (CAM) and their precursor materials (pCAM) – in a plant that is the first-of-its-kind in North America. The investment will create over 1,000 jobs in the Loyalist area, as well as support partnerships with universities and schools to develop an ecosystem of talent in battery and EV technology.

Invest in Canada was pleased to support Umicore throughout the investment process, from acquiring land and facilitating introductions, all the way to the official announcement. This project is another example of how Invest in Canada find the best to invest. Foreign direct investment from companies like Umicore helps build a prosperous, sustainable economy for our communities, our country and our world.

Umicore’s investment represents another link in Canada’s electric vehicle supply chain. From mining and mineral processing to battery production, automotive manufacturing and battery recycling, Canada has what it takes to produce EVs from start-to-finish!

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