The city of Kotka and Easpring Finland signed a land lease agreement

The city of Kotka and Easpring Finland New Materials Oy have signed a land lease agreement for the site planned for the Cathode Active Material (CAM) battery material factory in Kotka’s Keltakallio area. The company obtained an environmental permit for its operations in December 2024. The new factory is expected to employ approximately 270 people, with an investment value of about 770 million euros. Construction of the factory is scheduled to begin this spring.

While the final investment decision is still pending, today’s signed agreement demonstrates the company’s strong commitment to the project and enables its progression. When construction of the factory commences, it will bring a significant number of new jobs to the area, enhancing the economic vitality of the Kotka-Hamina region and its role as a pioneer in the green transition.

“The signing of the land lease agreement signifies that the Kotka-Hamina region is competitive in the global investment landscape. This step in developing the battery industry, alongside initiatives by Google and AALTO Development in the region, demonstrates our potential to add value to businesses and turn industrial restructuring into an opportunity for a bright future,” commented David Lindström, CEO of Cursor.

Read more about Kotka City’s announcement on the subject here. (in Finnish)

The goal of the Power Coast battery cluster is to strengthen expertise and investments in the battery sector in the region. With a strong heritage in process industries, a world-class port, and a robust service attitude, the Kotka-Hamina region supports the development of the battery cluster. Power Coast is strongly aligned with principles of sustainable development and circular economy, collaborating with Business Finland and other national stakeholders.

(AI translated)