Vianode, which is owned by Norsk Hydro, Elkem and Altor, will invest $193.51 million for a large-scale plant for sustainable electric vehicle battery materials in Norway.
“The decision is an important step towards establishing a complete battery value chain in Norway for the European market,” the company said in their statement.
The plant will be targeted to produce graphite anodes for around 20,000 electric vehicles per year by 2024. Vianode is also planning a second phase plant with a graphite anode capacity target of two million EVs per year by 2030.
“The graphite materials from Vianode are produced with up to 90% lower CO2 emissions than today’s standard materials.”
Norway is known as a major oil and gas producer. As the electrification trend continues, the northern European country aims to diversify its industrial base, including taking advantage of its access to minerals, metals and rare earths that are key to plans for sustainable battery manufacturing in Europe.
