PolVolt – a $1 Billion Polish Project Moving Closer to Reality
The Polvolt project, developed by our Group, is entering a decisive phase. This investment, valued at approximately $1 billion, aims to establish a state-of-the-art facility for recovering critical metals from lithium-ion batteries in Zawiercie, Poland. The company is now finalizing both its financing structure and the selection of a strategic technology partner.
A Strategic Investment for Europe
Polvolt is one of 47 strategic projects recognized by the European Commission under the Critical Raw Materials Act (CRMA). Its importance goes far beyond Poland – the project plays a key role in strengthening Europe’s raw material independence and advancing the circular economy.
The facility will process lithium-ion batteries, enabling the recovery of essential metals such as nickel, cobalt, lithium, and manganese. These materials are crucial for the development of electromobility, renewable energy, and modern technologies.
Financing Near Completion
The project is currently in the final stage of securing financing. Significant funding has already been obtained, including approximately €400 million in Polish and European grants. In addition, the European Investment Bank has approved €100 million in project financing, further strengthening the financial foundation of the investment.
At this stage, the key remaining element is the selection of a technology partner who will contribute not only capital but also advanced technological know-how.
Technology Partner – A Key Milestone
As emphasized by Paweł Jarski, the company is in the final phase of selecting a technology partner. The most likely candidates are companies from Japan or South Korea – regions known for their leadership in battery technologies and recycling solutions.
The selection process is expected to conclude at the turn of the second and third quarters. Once finalized, the project will move into a full-scale engineering design phase.
Project Timeline
Elemental Holding has already secured land and the necessary permits. The new facility will be located next to the existing Elemental Strategic Metals plant in Zawiercie.
The engineering phase is expected to take approximately six months, with construction scheduled to begin in mid-next year.
Strong Growth Despite Market Challenges
Despite a challenging market environment last year, influenced by geopolitical factors, the Elemental Group continued to strengthen its market position. The company currently reports approximately $2 billion in revenue in the European market, increasing its market share relative to competitors.
Polvolt remains the company’s top priority, absorbing the majority of its resources. Once the project enters the execution phase, Elemental plans to return to its acquisition strategy.
A Step Toward the Future
Polvolt is more than just an industrial investment – it represents a significant step toward a sustainable future. The development of lithium-ion battery recycling technologies is essential for meeting the growing demand for critical raw materials and supporting the global energy transition.
By delivering this project, Poland and Europe will strengthen their position in the global supply chain for advanced technologies, while promoting the concept of urban mining – recovering valuable resources already present in the economy.
