Umicore

Umicore SA (EBR: UMI) is a global materials technology and recycling group headquartered in Brussels, Belgium. The company focuses on developing, producing and recycling materials for clean mobility and sustainability applications.

Umicore's history dates back to 1805, evolving from mining and smelting companies into its current form as a materials technology and recycling company. In 2023, Umicore reported revenues of EUR 3.9 billion (turnover of EUR 18.3 billion) and employed over 11,500 people globally.

Umicore operates through four main business groups:

• Battery Materials: Produces cathode materials for rechargeable batteries used in electric vehicles and portable electronics.

• Catalysis: Manufactures automotive catalysts and precious metal-based compounds for emissions control and chemical processes.

• Recycling: Treats complex waste streams to recover precious and non-ferrous metals from end-of-life products and industrial residues.

• Specialty Materials: Produces cobalt and specialty materials for various industrial applications.

Umicore has been expanding its global footprint in battery materials to serve the growing electric vehicle market. In 2022, the company announced plans to build a USD 2.76 billion cathode active materials plant in Ontario, Canada. In July 2024, Umicore suspended construction of this facility.

The company is focused on sustainability and circular economy principles. Umicore aims to source over 40% of its electricity needs from renewable sources and has expanded its responsible sourcing frameworks. The company's 2030 RISE strategy targets growth driven by trends in circularity for critical metals, mobility transformation, and demand for advanced materials.