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Orano, the French nuclear waste company which is planning a battery recycling facility in Hauts-de-France has agreed to establish two joint ventures with the Chinese cathode material company XTC New Energy, owned by Xiamen Tungsten.
The two joint ventures will produce precursors and cathode material for EV batteries. Orano will own the majority of the precursor production while XTC will own the majority in the cathode plant, a model also used by LG Chem and Huayou Cobalt in China. Both of the plants will be erected in Dunkirk in Northern France where several battery companies are building plants.
With the deal Orano becomes yet another recycling company which integrates forward with battery production, enabling revenue generation independently on the amount of recycled of feedstock.
The plants are set to be commissioned in 2026.
The joint investment by Orano and XTC New Energy also includes the construction of a Research and Development center to design products adapted to the needs of the European automotive industry.
XTC is today part owner of Ganzou Highpower, one of the pioneering recycling companies in China, which was included in the first white list of recyclers for EV batteries. XTC is only one of several Chinese material makers which show interest in European market. CNGR, the world's largest precursor producer is planning a precursor facility in Finland in a joint venture with Finnish Minerals Group, a company that also have been in discussions with Beijing Easpring Material Technology. Also Huyaou Cobalt is investing opportunities for material production in Europe while GEM will likely partner with Ecopro on precursor production in Hungary. All establishments very important for the European recycling industry which with precursor and cathode production wil be able to completely close the loop in the region.