Solus Advanced Materials, a South Korean copper foil manufacturer, announced that its Canadian subsidiary, Volta Energy Solutions Canada, has finalized an incentive agreement with Investissement Québec. The agreement is part of a project to build Canada’s first copper foil plant for electric vehicle (EV) batteries in the Granby region of Quebec.
The Quebec government had initially pledged an incentive package worth 150 million Canadian dollars (US$110.7 million) when construction began in September 2022. The finalized agreement includes an interest-free loan, with additional financial support through tax credits and workforce training programs still under negotiation.
Once completed, the plant will be Solus Advanced Materials’ second overseas production base, following its facility in Hungary. The Quebec plant is expected to begin mass production in 2026, with an initial annual capacity of 25,000 tons, eventually ramping up to 63,000 tons.
Solus also plans to negotiate further incentives with the Canadian federal government later this year as it accelerates construction of the copper foil plant, a critical component for EV batteries.
