Candiac, April 8 2011 - Today, the Minister of Economic Development, Innovation, and Export Trade Clément Gignac, and the Laporte MNA and Minister of Tourism, and Minister responsible for the Montérégie region, Nicole Ménard, announced a $7.4 million grant for Phostech Lithium to establish the first Lithium Iron Phosphate (LFP) commercial production facility in Québec. Emploi-Québec will contribute an additional $250,000 for a training program to help create and maintain jobs. Phostech Lithium, a subsidiary of the German firm Süd-Chemie AG, will invest $78 million in the new facility, which will produce superior grade LFP for next-generation rechargeable batteries. LFP is a high-performance material with multiple applications, including energy storage for electric vehicle batteries.
« The Candiac Phostech facility will be one of the biggest of its kind worldwide. We are therefore extremely proud that Süd-Chemie management has chosen to establish itself in Candiac, starting a new production activity in an industry likely to take off in the coming years. Now is the time for Québec to grasp business opportunities and show the world what it has to offer in the electric vehicle industry », Minister Gignac commented.
« This represents another great element that will have very positive spinoffs for the Montérégie region, including 50 new jobs in Candiac. The project is a perfect example of what the government set out to achieve with the recently released 2011-2020 Electric Vehicles Action Plan. Thanks to enterprising, creative companies like Phostech Lithium, we are creating wealth and helping Québec's economy thrive », added Minister Ménard.
« Through our Large-Scale Economic Projects initiative, Emploi-Québec will help Phostech Lithium train 50 employees from the Saint Bruno plant, as well as 52 new employees at the Candiac facility. With a qualified workforce, the business will be able to leverage these new skills and experience to be more competitive internationally. Our government's involvement in the project will help stimulate the regional economy in a leading edge, high value-added industry », said Julie Boulet, Minister of Employment and Social Solidarity.
Québec has committed to an ambitious target: cutting greenhouse gas emissions by 20% from 1990 levels by 2020. The 2011-2020 Electric Vehicles Action Plan is one of the most promising solutions for meeting this target. Major investments are planned to support Québec businesses and attract foreign investments to create jobs and wealth in Québec by developing a world-class electric vehicle industry. The world's largest battery makers are already working closely with top American, European, Chinese, and Japanese automakers to develop and perfect the next generation of LFP cathode batteries.
« Demand for Lithium Iron Phosphate (LFP) is growing, especially for electric and hybrid vehicles, cordless tools, and portable electronic devices. Phostech Lithium's Candiac plant, which is slated to open in 2012, will have an annual production capacity of 2,500 metric tons: enough to build around 50,000 electric vehicle batteries or up to 500,000 hybrid vehicle batteries », said Dr. Hans-Joachim Müller, president of Phostech Lithium.
Investissement Québec's mission is to promote growth and investment in Québec, thereby contributing to economic development and job creation in all regions of the province. Since its inception, the agency has been an impetus for nearly $50 billion in investment in all, and the creation of nearly 170,000 jobs.
The Strategic Support for Investment Program (PASI) promotes investment projects and initiatives to develop new products in Québec by providing businesses with financial assistance to help them increase productivity and improve their competitive position in the market.
The Large-scale Economic Projects initiative is an important tool to help Emploi-Québec and its labor market partners meet businesses' workforce needs. The funding, which is notably used to provide qualified training and human resource management assistance, is designed to support job creation and labor adjustment at critical moments such as business growth cycles, expansion into new markets, facilities upgrades, and process overhauls. The Large-scale Economic Projects funding complements existing government measures aimed at attracting new businesses to Québec.
Süd-Chemie is a listed (ISIN: DE0007292005; WKN: 729200), publically-traded company in specialty chemicals headquartered in Munich, Germany. All Süd-Chemie products and services have one common denominator: the efficient and sparing use of natural resources to enhance the quality of life for humans and the environment. Group sales for 2010 were €1.225 billion, with approximately 85% coming outside of Germany. In 2010 the group boasted some 6,400 employees in 120 production and sales facilities worldwide.
With its Canadian subsidiary, Phostech Lithium Inc. of Saint-Bruno, Süd-Chemie specializes in developing innovative and environmentally responsible new energy storage technologies. Phostech Lithium focuses mainly on producing Lithium Iron Phosphate (LiFePO4, LFP), a groundbreaking substance for battery production that offers enhanced performance and security, pushing forward next generation battery technology for the electric and hybrid vehicle industry.
With its Phostech subsidiary, Süd-Chemie holds substantial LFP battery intellectual property. With numerous patents, its patented wet-process LFP technology, and the appealing brand image of LifePower®, Süd-Chemie Group is strategically positioned in the fast-growing energy storage industry.
Ministre du Développement économique, de l'Innovation et de l'Exportation
Minister of Tourism and Minister responsible for the Montérégie region
1 866 870-0437
Ministère de l'Emploi et de la Solidarité sociale