PowerCo and Umicore set up pre-eminent new European battery materials player

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Dr. Stefan Ernst
Dr. Stefan Ernst
Spokesperson Battery | Volkswagen Group Technology
IONWAY – name and logo in more detail
  • Joint venture named IONWAY to scale up EU footprint in the e-mobility business
  • CEO Thomas Jansseune of Umicore and CFO Achim Holzer of PowerCo to swiftly ramp-up industrialization of most valuable battery asset
  • Large-scale production of sustainable battery materials ‒ precursors (pCAM) and cathode active materials (CAM) ‒ for electric vehicles (EVs)

Wolfsburg. Umicore and Volkswagen Group-backed battery company PowerCo have announced the name and branding of their first-of-its kind cooperation. Their Brussels-headquartered joint venture for large-scale industrial production of CAM and pCAM in Europe will bear the name IONWAY. Both parents aim to grow IONWAY’s annual production capacity to 160 GWh p.a. by the end of the decade, corresponding to 2.2 m battery-electric vehicles.

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