Umicore is a global materials technology company that transforms metals into functional materials for sustainable applications. Founded in 1805, the company has evolved from its origins in mining to become a leader in clean mobility solutions, focusing on battery materials production and recycling. Today, Umicore operates through four main business segments: Battery Materials, Catalysis, Recycling, and Specialty Materials. With nearly 12,000 employees worldwide, the company creates solutions that address environmental challenges while promoting circular economy principles. Umicore’s commitment to sustainability is reflected in its closed-loop approach, which integrates the production of new materials with the recycling of used ones.
Battery Technology
Umicore’s battery materials division specializes in developing and manufacturing advanced cathode active materials (CAM) for rechargeable batteries used in electric vehicles. Their portfolio includes manganese-rich HLM (High Lithium, Manganese) technology, which provides a cost-effective alternative to traditional battery materials while maintaining high energy density and extended driving range.
The company produces NMC (Nickel, Manganese, Cobalt) based cathode materials, essential components for high-performance electric vehicle batteries. These materials are designed to enhance battery efficiency and reduce environmental impact. Umicore’s manufacturing processes incorporate strict quality controls and sustainable practices to ensure consistent product performance.
A significant aspect of Umicore’s battery technology is its integrated recycling capability. The company uses proprietary pyro-hydro technology to recover critical materials from end-of-life batteries, including lithium, cobalt, nickel, and copper. This recycling process supports material circularity and reduces dependence on primary mining operations. The recovered materials are then refined and reprocessed into new cathode materials, completing the circular economy loop.
Recent Projects
In early 2024, Umicore announced a strategic pause in the construction of its battery materials plant in Loyalist, Ontario. This decision aligns with their focus on optimizing existing plant capacity utilization. The company plans to serve North American customers through its Cheonan, Korea facility while implementing cost-saving measures expected to generate €40 million in annual savings by 2025.
Umicore has expanded its precious metals chemistry capabilities by acquiring YPhos ligand technology from Ruhr-Bochum University and launching a new cross-coupling catalyst system. The company has also scheduled its next Capital Markets Day for March 27, 2025, in London, where it will present a review of its Battery Materials business strategy.
Investors
Umicore maintains a high free float with a diverse international shareholder base, primarily concentrated in Europe and North America. The company receives coverage from 22 brokerage firms, indicating strong institutional investor interest. In 2022, Umicore established a strategic partnership with PowerCo, a Volkswagen Group battery company, forming a joint venture for European battery materials production.
The company’s financing structure includes fixed-rate medium and long-term notes held by private debt investors across Europe and North America, complemented by credit lines from various international banks managed through its corporate Finance Department.
Business Details
Location: Brussels, Belgium
Website: https://umicore.com
LinkedIn: https://www.linkedin.com/company/166583
