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Korean battery materials firm EcoPro BM forms Canadian subsidiaries

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Battery materials company EcoPro BM has formed a pair of Canadian subsidiaries amid talks with the federal and Quebec governments about financial backing for a prospective cathode active materials (CAM) plant in the province.

In a federal lobbyist filing Feb. 21, the South Korea-based company listed EcoPro CAM Canada LP as a subsidiary, updating a previous filing from December that had not included the business unit. A comparable update was filed in Quebec Feb. 24.

The formation of the Canadian subsidiaries follows several months of exchanges between EcoPro BM and the two levels of government. The lobbyist filings do not pinpoint a location for the potential plant, but Bloomberg reported in November that EcoPro BM was in talks to build a US$700 million CAM plant in Bécancour, Que., in partnership with Ford Motor Co., and battery cell maker SK On Co. An official announcement, it said, could come within three months.

The North American site would be EcoPro BM’s second plant outside Asia; it announced plans for a CAM plant in Hungary in late 2021.

 

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