Volta Energy Solutions Canada (VESC) announced on the 15th that it has been selected as a “Leading Company for Supply Chain Resilience” under a program administered by the Korean Ministry of Economy and Finance and will receive funding from the Supply Chain Resilience Fund.
The VESC Granby plant.
The funding will support construction of a battery copper foil manufacturing facility in Quebec, Canada. Battery copper foil is a critical component in lithium-ion batteries used in electric vehicles (EVs) and energy storage systems (ESS), making localized production capacity an important factor in strengthening North American EV supply chains.
VESC is an overseas subsidiary of Solus Advanced Materials, a Korea-based materials manufacturer supplying components for electric vehicle batteries and display technologies. Under the program, VESC is expected to receive approximately USD 140 million (approximately CAD 194 million) beginning later this year.
The funding will support ongoing construction of the company’s battery copper foil production facility in Granby, Quebec.
The Supply Chain Resilience Fund is a Korean government policy initiative established to address global supply chain risks and support overseas production capacity for key industrial materials. Launched in the second half of 2024, the program focuses on sectors including secondary batteries, automobiles, and semiconductors, and is managed by the Export-Import Bank of Korea.
In addition to the Supply Chain Resilience Fund, VESC has secured further financing through a syndicated loan involving the Export-Import Bank of Korea and the Korea Development Bank. When combined with existing financing from the Korea Trade Insurance Corporation and Export Development Canada (EDC), total project financing amounts to approximately USD 300 million (approximately CAD 416 million).
The Granby facility is scheduled for completion in the second half of 2026, with initial production capacity of 25,000 tons per year. Capacity is expected to expand in phases to a maximum of 63,000 tons annually, depending on market demand. Mass production is planned to begin in 2027.
The facility is intended to supply battery copper foil to EV and ESS manufacturers operating in North America, supporting regional battery production and reducing reliance on overseas supply chains. Copper foil serves as the current collector in lithium-ion battery anodes and is a foundational material for battery cell manufacturing.
Solus Advanced Materials began supplying battery copper foil from its European production facility in Hungary in 2019 and expanded into North America with the groundbreaking of its Canadian facility in 2022. The company now operates battery copper foil manufacturing facilities in both Europe and North America.
Copper has been designated as a strategic material in several jurisdictions, including North America, due to its importance in electrification and energy storage technologies. As demand for EVs and grid-scale energy storage systems increases, demand for locally produced battery materials continues to grow.
VESC’s Canadian facility is expected to support this demand by supplying battery copper foil to EV and ESS manufacturers across North America, contributing to supply stability and regional battery manufacturing capacity.
Filed Under: Batteries, Technology News