Kinterra Capital, a Canadian fund, has acquired land near Opole where it plans to establish a factory focused on manufacturing battery components.
The purchase encompasses approximately 44 hectares of land in Wrzoski, with an estimated value of 70 million PLN. The factory project was initially to be developed by the American company Ascend Elements, which has since declared bankruptcy.
According to Laura Fernandez, a partner at Kinterra, there are strong incentives to relocate the battery supply chain to Western countries, considering Poland’s growing investment-friendly environment for projects of this nature. The planned factory is set to benefit from a Polish government subsidy program valued at about 340 million USD, equivalent to 1.22 billion PLN.
Kinterra’s First European Investment
This marks Kinterra’s first investment in Europe. The private equity fund, headquartered in Toronto, specializes in critical raw materials and associated infrastructure. Key assets related to the Opole project were transferred to the company in May, with the final acquisition of the land completed in July.
Preparations for the investment in the lithium-ion battery component manufacturing facility are ongoing. Fernandez expressed admiration for Poland, citing the level of local scientists, the positive engagement from government representatives at all levels, and the overall business environment. The company is also exploring additional investment opportunities in the country.
Ongoing Project Development
The project is currently in the pre-engineering phase, which involves refining the technology planned for the factory. Concurrently, Kinterra is engaging with potential joint venture partners and exploring collaboration options with local research and development institutions, including universities and scientific entities.
One of the initiatives being considered is the Opole Battery Cluster, aimed at integrating efforts between business, academia, local government, and central administration to foster sector development. The completed facility is anticipated to commence operations in 2032.
Graeme Weeks, Global Head of Project Execution at Kinterra, stated that the fund’s investment mandate encompasses not only the production of critical raw materials but also infrastructure, indicating a willingness to pursue further investments in the region.
