The Portuguese government announced on January 20 that it held a signing ceremony for investment contracts with six companies: CALB, Everbio, Lift One, Savannah Lithium, Topsoe Battery Materials, and United PetFood. Prime Minister Montenegro attended the ceremony.
The total investment under these six contracts amounts to €3.077 billion (approximately $3.64 billion US), with incentive grants valued at €699.7 million (approximately $828.58 million US). The investments span sectors including electric vehicles, healthcare, chemicals and petrochemicals, agri-food processing, and extractive industries. They are expected to create a total of 2,336 jobs across multiple regions in Portugal, 643 of which are high-skilled positions.
It is noteworthy that these investment contracts were approved between 2025 and January of this year, with the event serving as the formal signing ceremony. Four of the six investments (from CALB, Lift One, Savannah Lithium, and Topsoe Battery Materials) originated from applications under the “Strategic Industrial Investment Incentive Program.” Their combined investment exceeds €3 billion (approximately $3.55 billion US), with contracted incentives totaling over €670 million (approximately $793.41 million US). This incentive program, funded by national resources, was implemented following the conversion of the EU Commission’s “Temporary Crisis and Transition Framework” and aims to promote investments in energy transition and reindustrialization.
Prime Minister Montenegro noted that the signed projects cover areas such as the sustainable extraction and refining of lithium, and the production of batteries and components forming a complete value chain from extraction to end products.
Among them, Portuguese company Lift One plans to invest €514 million (approximately $608.68 million US) to build a sustainable lithium refinery in Estarreja, primarily producing lithium hydroxide monohydrate. The project received €135 million (approximately $159.87 million US) in incentives and is expected to create 134 jobs.
UK-based Savannah Lithium plans to invest €313 million (approximately $370.65 million US) to establish a spodumene concentrate mining and production base in Boticas, Vila Real. With €110 million (approximately $130.26 million US) in incentive support, the project will generate 136 new jobs.
Denmark’s Topsoe Battery Materials plans to invest €109.5 million (approximately $129.70 million US) to build a Cathode Active Materials (CAM) production plant for electric vehicles in Sines. Supported by €38.3 million (approximately $45.35 million US) in incentives, it is projected to create 62 jobs.
Chinese company CALB plans to invest €2.067 billion (approximately $2.45 billion US) to construct a lithium battery plant for the automotive industry in Sines. This project received €350 million (approximately $414.47 million US) in incentives and is expected to create 1,800 jobs.
Previously, in February 2025, Portugal’s Ministry of Economy stated in a release that its Minister, Reis, attended the groundbreaking ceremony for CALB’s Sines lithium battery plant. The project was granted “Project of National Interest” (PIN) status by the Portuguese government, involves an investment of approximately €2 billion (approximately $2.37 billion US), and is scheduled to be fully operational by 2028, directly creating 1,800 jobs.
Upon completion, the factory is expected to have an energy storage production capacity of 15 GWh.
Source: WeChat Official Account——马里亚纳锂电
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