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.

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