Vianode Invests NOK 2 Billion in Battery Materials Plant in Norway

Active anode materials manufacturer in Vianode has announced that it will invest around NOK 2 billion in its first industrial-scale plant for sustainable battery materials at Herøya in Norway. Vianode is a company owned by the three firms, namely, Elkem, Hydro and Altor.

Vianode said that the investment will create new industrial jobs and provide critical battery materials. It calls the decision is an important step towards establishing a complete battery value chain in Norway for the European market.

The official statement held that the Herøya industrial plant will produce anode graphite for about 20,000 electric vehicles per year by 2024. This investment is the first phase in a larger investment plan. The plant construction will be carried out in parallel with preparations for a second phase plant scaled to provide battery materials to 2 million EVs per year by 2030, covering a significant share of the global EV market.

Asbjørn Søvik, Vianode’s interim CEO, said, “The investment decision marks a historic step for Vianode and its owners and is a recognition of the work put in by both our employees and partners. Based on strong support from owners Elkem, Hydro and Altor, Vianode now has a solid foundation to succeed with building industrial leadership in advanced battery materials with a green footprint.”

Stian Madshus, General Manager, Vianode, added, “Europe is facing a significant shortfall of graphite materials towards 2030, which Vianode aims to address with our high-performance offerings. Automakers and authorities are also increasingly focused on a sustainable value chain, where Vianode has a unique offering with our low CO2 footprint.”

An EV generally contains on average up to 70 kg of graphite materials, representing a vital component of the battery. Products of Vianode are developed based on specialized know how in high-temperature processes, closed production systems, lower energy consumption and access to renewable energy. It said that this makes the company an important contributor to the European supply of critical materials needed for the energy transition.

Today’s investment decision means that the company will be recruiting approximately 100 new hires, bringing the total to around 160 by the end of 2023. With a potential investment decision for a second phase plant, this can double to 300 employees by the end of 2026. Including ripple effects, this means around 1000 jobs in total.