On Friday 7 January, the European Commission decided to approve €24 million of investment aid granted by Hungary to Volta Energy Solutions for the expansion of a battery copper foil manufacturing plant in the Hungarian region of Közép-Dunántúl (Central Transdanubia).
Volta Energy Solutions (formerly Doosan Energy Solution) is a subsidiary of Solus Advanced Materials Co. Ltd, a large Korean company, which produces copper foil, display materials and biomaterials.
The €24 million Hungarian investment aid will support Volta Energy Solutions’ €206 million investment in the extension of its battery copper foil manufacturing plant in Környe. The project, which started in October 2020 and is planned to be completed in 2022, is expected to create nearly 200 direct jobs. The new unit will more than double the current production capacity of the plant.
The Commission assessed the aid measure under the applicable Guidelines on Regional State Aid for 2014-2020, which were prolonged until 31 December 2021. (Original version in French by Lionel Changeur)