Germany’s BASF has announced it has acquired land in Bécancour, Quebec to build a cathode active material (CAM) and battery metals recycling plant.
The company announced the facility will start operations in 2025, and will serve the Canadian, United States, and Mexico e-mobility markets.
“This land acquisition is a necessary prerequisite to further advance our strategy to grow our footprint in key regions to better serve our customer’s operations with sustainable and reliable local supply. We look forward to supporting the e-mobility transition in the United States, Canada, Mexico and beyond,” said Peter Schuhmacher, executive vice-president of BASF North America in a press release announcing the deal.
Bécancour is located along the Saint Lawrence River between Montreal and Quebec City, offering BASF favorable conditions. The company said they would also be able to rely on competitive hydropower to further reduce the carbon footprint of its products compared to the industry average.
The financial details of the deal were not disclosed, however Canada’s Industry Minister Francois-Philippe Champagne said it was “substantial,” adding the government planned to support the project with an equally substantial investment of their own.
“I see BASF as being the first pillar of the battery ecosystem in Canada. It’s certainly a substantial investment, both for the company and for us… as the federal government,” Champagne said.
We first reported on the potential for BASF to expand to Canada last May. One of the key considerations at the time was being able to secure funding from through the $8 billion “Net Zero accelerator” (NZA) fund.
The fund was set up to help Canada achieve its goal of reaching net zero emissions by 2050.
