Umicore and Powerco starts a JV- Ionway
IONWAY to supply battery materials to PowerCo's European battery cell facilities | Mr. Thomas Jansseune was appointed as IONWAY's Chief Executive Officer.
Brussels, Belgium- Umicore NV/SE., and PowerCo SE., (Volkswagen Group-backed battery company) have announced the name and branding of their collaboration. IONWAY will be the name of their Brussels-based joint venture for industrial production of CAM and pCAM in Europe. Both firms intend to increase IONWAY's yearly production capacity to 160 GWh per year by the end of the decade, which equates to 2.2 million battery-electric vehicles.
IONWAY to supply battery materials to PowerCo's European battery cell facilities and cover a big portion of PowerCo's EU demand, while also providing Umicore with secure access to a significant portion of the European demand for EV cathode materials.
IONWAY is a collaboration between a European car manufacturer and producer of CAM, generating sustainable battery materials for the EV transition and a zero-emission future. Both parent firms are fully committed to expanding the EU's e-mobility footprint by building regional, sustainable, and transparent battery supply chains.
Cathode materials are crucial for battery performance, cost, and environmental impact. IONWAY is uniting resources and expertise to advance sustainable e-mobility through high-performance batteries.
Mr. Frank Blome,PowerCo-CEO, said that, PowerCo has reached another milestone in its aim to vertically integrate the battery supply chain by partnering with IONWAY. We get our own critical cell production materials at competitive prices with the help of our reliable partner Umicore. PowerCo's secure access enables it to supply cost-competitive battery cells to Volkswagen Group for many years to come, allowing its brands to offer attractive, cheap EVs to its customers.
Mr. Mathias Miedreich,Umicore-CEO, said that, IONWAY is a start-up with a big head start, thanks to our relationship with Volkswagen's PowerCo and Umicore, two essential actors in the electric mobility transformation. IONWAY will undoubtedly become an industry reference in e-mobility, spurring innovation, creating hundreds of highly trained jobs, and facilitating the energy transition.
Mr. Thomas Jansseune, IONWAY-CEO, said that, The establishment of IONWAY is a powerful signal for the spread of battery cell technology across Europe. We believe that this company will provide critical building blocks in assisting the European Union in meeting its Green Deal aspirations.
Following 22 years at Umicore, Thomas Jansseune was appointed as IONWAY's first Chief Executive Officer on July 1, 2023. In his previous position, he oversaw Umicore's New Business Incubation, which included venture financing, solid-state batteries, decarbonization, battery recycling, and hydrogen electrolysis initiatives. He was formerly in charge of Corporate Development, worked in marketing and sales, and was the managing director of a precious metals refining factory. Jansseune is a PhD candidate in Chemical Engineering.
Mr. Achim Holzer joined CFO IONWAY from Volkswagen Group Technology where he served as Head of Value Engineering & Central Purchasing Functions. Before he was Head of Value Engineering at AUDI. Holzer holds a doctoral degree in economics from University of Passau.
The interlocking circles in the small-cap "i" in the logo represent PowerCo and Umicore's tight relationship and connectivity in shaping the electric car battery business in a rapidly growing market. The motto "Synergy for Energy" in the logo explains IONWAY's role in bringing about the energy transition. The collaborative efforts will have a significant impact, and this phrase embodies the JV's higher purpose.
About Umicore
Umicore is a circular materials technology Group. It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. Its activities are organized in three business groups: Catalysis, Energy & Surface Technologies and Recycling. Each business group is divided into market-focused business units offering materials and solutions that are at the cutting edge of new technological developments and essential to everyday life.
About PowerCo
The Volkswagen Group is bundling global battery activities in the European company PowerCo SE. From Salzgitter, the company manages international factory operations, the further development of cell technology, and the vertical integration of the value chain. Looking ahead, further products such as major storage systems for the energy grid are planned.
