Vianode Invests NOK 2 Billion in Battery Materials Plant in Norway

• Vianode held that the Herøya industrial plant will generate anode graphite for concerning 20,000 electric cars each year by 2024.
• Vianode wants to supply the shortage in the graphite materials towards 2030 in Europe.

Active anode materials maker in Vianode has announced that it will spend around NOK 2 billion in its initial industrial-scale plant for lasting battery products at Herøya in Norway. Vianode is a business owned by the three companies, namely, Elkem, Hydro as well as Altor.

Vianode stated that the investment will develop new industrial work and also give essential battery materials. It calls the choice is a crucial action in the direction of developing a complete battery value chain in Norway for the European market.

The main statement held that the Herøya plant will certainly generate anode graphite for concerning 20,000 electrical cars each year by 2024. This financial investment is the first phase in a bigger financial investment strategy. The plant building and construction will be executed in parallel with preparations momentarily stage plant scaled to provide battery products to 2 million EVs each year by 2030, covering a considerable share of the worldwide EV market.

Asbjørn Søvik, Vianode's interim chief executive officer, stated, "The financial investment choice notes a historical step for Vianode as well as its proprietors and also is a recognition of the work placed in by both our staff members and also companions. Based upon solid support from owners Elkem, Hydro and also Altor, Vianode now has a solid structure to succeed with building commercial management in advanced battery materials with a green footprint."

Stian Madshus, General Manager, Vianode, included, "Europe is dealing with a significant deficiency of graphite products towards 2030, which Vianode intends to resolve with our high-performance offerings. Car manufacturers and also authorities are likewise progressively concentrated on a lasting value chain, where Vianode has a distinct offering with our low carbon dioxide impact."

An EV generally contains on average as much as 70 kg of graphite materials, standing for an essential element of the battery. Products of Vianode are developed based upon specialized know just how in high-temperature processes, shut production systems, lower power intake as well as accessibility to renewable resource. It claimed that this makes the firm an important factor to the European supply of critical products required for the power transition.

Today's investment choice means that the business will be recruiting approximately 100 new hires, bringing the total amount to around 160 by the end of 2023. With a prospective investment choice for a second stage plant, this can increase to 300 workers by the end of 2026. Including ripple effects, this implies around 1000 tasks in total.