IONWAY represents a strategic collaboration between PowerCo, the Volkswagen Group’s battery company, and Umicore, a leading circular materials technology company. Established in October 2023, IONWAY specializes in producing sustainable battery materials for electric vehicles (EVs). The company aims to achieve an annual production capacity of 160 GWh by 2030, sufficient to power approximately 2.2 million electric vehicles. This venture strengthens Europe’s position in the EV supply chain by establishing regional, sustainable, and transparent battery material production capabilities.
Battery Technology
IONWAY focuses on manufacturing two essential components for EV batteries: cathode active materials (CAM) and their precursors (pCAM). These materials directly influence battery performance, cost, and environmental impact. The production process emphasizes sustainability through green energy usage and responsible raw material sourcing.
The company’s manufacturing approach integrates advanced technical specifications with stringent quality control measures. IONWAY’s production facilities implement state-of-the-art technologies to ensure consistent material properties and optimal battery performance. The materials produced are designed to meet specific requirements for PowerCo’s European battery cell factories, enabling the production of efficient and cost-competitive battery cells for Volkswagen Group’s electric vehicles.
Future plans include expanding capabilities to incorporate refining and battery recycling processes, creating a more sustainable production cycle. This integrated approach aims to reduce dependency on raw materials while maintaining high-quality standards in battery material production.
Recent Projects
As of January 2024, IONWAY has initiated construction of its first CAM production facility in Nysa, Poland. The project receives substantial support from the Polish government, including €350 million in cash grants under the Temporary Crisis and Transition Framework. The Nysa facility will create approximately 900 industry jobs by 2030. The company is currently evaluating locations for its future pCAM plant, with an announcement expected in the coming months.
Investors
The primary investors in IONWAY are its founding companies: PowerCo (Volkswagen Group) and Umicore. The venture represents a total investment of up to €1.7 billion through 2030. Additional financial support comes from the Polish government through development grants, though this represents project support rather than equity investment.
Business Details
Location: Brussels, Belgium (Headquarters); Nysa, Poland (Production Facility)
Website: https://ionway.com
LinkedIn: https://www.linkedin.com/company/ionway
