Orano and XTC New Energy Announce the Creation of Two Joint Ventures in France as Part of Their Collaboration Project

Regulatory News:

Today, in Paris, 18 months after the announcement of the partnership between the French group Orano and the Chinese group XTC New Energy, a further step forward has been taken on the project with the creation of two joint ventures for the production of EV battery components (CAM and PCAM).

The creation of these two joint ventures as part of a project to be known as Neomat, officially seals the desire of the two partners to join forces to develop an efficient and integrated industrial platform at Dunkirk in France.
These joint ventures to be known as Neomat CAM and Neomat PCAM will provide the supporting framework for the construction projects for the two plants. The plan is for Neomat CAM, the Cathode Active Materials manufacturing plant, and Neomat PCAM, the Precursor Cathode Active Material production plant, to be deployed on the site allocated by the Grand Port Maritime de Dunkerque (GPMD), in the municipalities of Gravelines and Loon-Plage.

This step in the project is being taken in addition to the ongoing consultation already in progress, ahead of the public inquiry expected in the spring of 2025 and with a view to securing the order book for the future facility from gigafactories located in Europe, all prior steps to any potential future investment decisions.

According to Philippe Hatron, Director of Orano's Batteries program and member of the Boards of Directors of the two joint ventures: "This is another step forward in our partnership which strengthens the organization of the project. We are hereby confirming our desire to pool our expertise and know-how together to help to develop a competitive industrial value chain in battery materials in Dunkirk in the Hauts de France region to serve the European electric vehicle industry over the long term".

For Michael LIU, CEO of Neomat CAM: “Since May 2023 and the decision to build a joint battery materials manufacturing plant in Dunkirk, teams from our two groups have been working in close collaboration, combining experience and knowledge in their respective domains to complete major milestones. At the same time, our project has received the support of the French government, the Hauts-de-France Region and the Communauté Urbaine de Dunkerque. In addition, local residents have on numerous occasions expressed their interest in and support for the location chosen for our joint venture project. This further strengthens us in our desire to contribute to the development of the European electric vehicle industry and to the circular economy strategy in this new phase of our partnership".