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Gränges to Double Battery Foil Production in Sweden

aluminum foil© by EAFA

Gränges plans to invest SEK 600 million (~US$57.7 million) over two years to double its capacity for battery cathode foil production in Finspång, Sweden. The new capacity will enable the company to meet the growing demand for battery components in Europe.

“Recently, we have experienced very high interest in our battery and electrification solutions from battery manufacturers and automotive OEMs,” noted Jörgen Rosengren, CEO of Gränges. “A recently made agreement with a leading global battery manufacturer consumes our initially planned production capacity in Europe. To keep up a high pace, we are now investing in doubling our capacity for the European market.”

Serving the rapidly growing market demand for battery and electrification components in Europe and North America is a high priority in Gränges’ Navigate plan for sustainable growth. Battery cathode foil (BCF) is a critical component in the lithium-ion battery cells necessary for a transition to electric vehicles. Demand for BCF is expected to grow by over 25 percent annually for many years to come.

The company has been extensively investing in battery foil capacity expansions since 2021, with expanded capacity started up in Asia in 2022. New capacity is also expected to come online in Europe in 2023 and the U.S. in 2024. The investment in Finspång, which is expected to come online during 2025, is the latest of these project.

“Gränges has unique and unmatched advantages contributing to the strong customer interest we’re now seeing: our global footprint and strong regional presence, our high ambition and proven performance in sustainability, and our deep technical knowhow,” said William B. Shannon, SVP for Gränges’ Global Battery Foil Program. “We aim to take a leading position within battery components, such as battery foil, casing and thermal management components. The investment in Finspång is a very exciting step towards that goal.”

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