Solus Advanced Materials gets USD 28 mln loan from EBRD
The European Bank for Reconstruction and Development (EBRD) announced a USD 28 million loan for the construction of a plant by South Korea's Solus Advanced Materials that will make copper foil for electric vehicle batteries, according to autopro.hu.
The plant, in Tatabánya (60 km west of Budapest), will be the first of its kind in Europe, the EBRD said. It will support the move to electro-mobility and advance the European Union toward its goal of achieving a climate-neutral economy while contributing to the circular economy as it relies wholly on scrap copper for its feedstock, the EBRD added.
"We fully support Solus Advanced Materials' growth and its contribution to Hungary becoming a hub for the European EV battery industry," EBRD head of industries Frederic Lucenet said.
To date, the EBRD has invested almost EUR 3.3 billion in 192 projects in Hungary.
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