Samuel Wilson 
Umicore and PowerCo, a battery company backed by Volkswagen Group, have unveiled their joint venture’s name and branding, called Ionway. Headquartered in Brussels, Ionway aims to be a pioneering player in large-scale industrial production of cathode active materials (CAM) and pre-cathode active materials (pCAM) in Europe. Both parent companies have ambitious plans to increase Ionway’s annual production capacity to 160 GWh by the end of the decade, equivalent to powering 2.2 million battery-electric vehicles.
Ionway’s primary purpose is to supply PowerCo’s European battery cell factories with essential battery materials while meeting a substantial part of PowerCo’s EU demand. Simultaneously, it will ensure Umicore’s access to a significant share of the European market for EV cathode materials.
This groundbreaking partnership represents a collaboration between a European car manufacturer and a global CAM producer dedicated to sustainable battery materials. Both companies share a commitment to expand Europe’s presence in the electric mobility industry by establishing eco-friendly and transparent battery supply chains on a regional scale.
Cathode active materials are crucial for battery performance, cost, and carbon footprint, making them pivotal for the success of electric vehicles and the transition to sustainable e-mobility.
Ionway will harness the combined expertise and resources of its parent companies to advance battery technology and accelerate sustainable progress in the electric vehicle sector.
Frank Blome, CEO of PowerCo, stated, “Through Ionway, PowerCo reaches another milestone of our strategy to vertically integrate the battery supply chain. Secure access allows PowerCo to supply cost-competitive battery cells to Volkswagen Group for years to come ‒ enabling its brands to offer attractive, affordable EVs to its customers.”
Mathias Miedreich, CEO of Umicore, commented, “Ionway is a start-up with a significant head start because our partnership is built on solid foundations with Volkswagen’s PowerCo and Umicore, key players in the electric mobility transformation. Ionway will no doubt grow into an industry reference in e-mobility, boosting innovation, creating hundreds of highly skilled jobs, and will make the energy transition happen.”
Ionway’s CEO, Thomas Jansseune, emphasized the company’s role in supporting the European Union’s Green Deal ambitions, stating, “The foundation of Ionway sends a strong signal for the roll-out of battery cell technology in Europe.”
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