Borenius advised CNGR Advanced Material on a joint venture regarding the establishment of a battery plant in Hamina

We advised CNGR Advanced Material, a Chinese technology company, on its joint venture project with Finnish Minerals Group regarding their collaboration in establishing a pCAM battery plant in Hamina, Finland.

The plant project will be managed by the partners’ joint venture company, of which CNGR Advanced Material will own 60% and Finnish Minerals Group 40%.

The plant capacity has been set at 20,000 tonnes a year for the initial phase. The goal is to launch production in 2024 and invest in increasing the capacity along with the production over the following years. The initial investment will be EUR 200–300 million.