Solus Advanced Materials Secures Battery Foil Plant in Canada... Advances North America Entry by One Year

Photo of the factory site in Quebec, Canada, purchased by Solus Advanced Materials

[Asia Economy Reporter Choi Dae-yeol] Solus Advanced Materials announced on the 15th that it has purchased a site and factory in Grenville, Quebec, Canada, capable of producing 60,000 tons of copper foil annually. Copper foil is a key material used in batteries for electric vehicles, and the company, which operates the only production plant in Europe, has now set its sights on entering the North American market.

According to the company, the newly acquired site includes the copper foil factory building established by its European subsidiary Circuit Foil Luxembourg (CFL) in 2001 and commercially operated until 2014. This factory was excluded from the acquisition when Doosan purchased CFL in 2014, but Solus Advanced Materials has reacquired it after seven years.

The company plans to expand, renovate, and remodel the existing factory building to convert it into its first copper foil plant in North America. By utilizing the existing building instead of constructing a new one, the company expects to save on equipment investment costs and reduce the permitting period. The goal is to begin mass production of copper foil as early as 2024, accelerating its copper foil business in the North American region. This will be the first production plant in North America among domestic copper foil manufacturers.

The decision to establish the factory in Quebec, Canada, was influenced by tariff-free benefits under the United States-Mexico-Canada Agreement (USMCA), lower electricity costs compared to other regions, and the availability of high-quality labor. Considerations also included hydroelectric power-based carbon neutrality and achieving RE100. The copper foil produced here will be supplied to battery cell manufacturers and automakers in the North American market.

Seo Gwang-byeok, CEO of Solus Advanced Materials, said, "By securing our own production base and independently entering the North American market, we can meet the demand of potential local customers one year ahead of schedule. We will establish a dominant position in the rapidly growing North American copper foil market."

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