Orano and XTC New Energy to build a 500M euro cathode materials factory in Dunkerque, France
Type: Development · Technology: Storage · Country: France · Value: $500M · Announced: 2026-03-05
A €500M investment by the Neomat joint venture will establish a 40,000 tonnes/year cathode active materials factory in Dunkerque, France. Majority-.
Analysis
The Neomat joint venture, 51% owned by XTC and 49% by Orano, is investing 500 million euros to construct a cathode active materials (CAM) factory in Dunkerque, France, as the initial phase of a larger 1.5 billion euro industrial program. This strategic development aims to establish a European battery component supply chain, with the facility producing 40,000 tonnes of CAM annually by 2028. The project leverages XTC New Energy's expertise as a leading Chinese cathode materials manufacturer and Orano's diversification from its nuclear fuel cycle core business. Located on 15 hectares within the Grand Port Maritime de Dunkerque, the factory will supply enough CAM for up to 500,000 electric vehicles annually.
Key points
- The initial 500 million euro investment is the first phase of a larger 1.5 billion euro industrial program in the Hauts-de-France region.
- Orano, primarily a nuclear fuel cycle player, is diversifying into battery components with a 49% stake in the Neomat joint venture.
- The Dunkerque factory will produce 40,000 tonnes of CAM annually, sufficient for up to 500,000 electric vehicles.
- XTC New Energy, a leading Chinese cathode materials manufacturer, holds a 51% majority stake in the Neomat joint venture.
Counterparties
- Orano (Partner)
- XTC New Energy (Partner)