Norwegian battery materials specialist Vianode is seeking a strategic partner to support its next phase of expansion, with options ranging from cooperation to a full acquisition. The company is looking for additional capital, industrial expertise or broader strategic support as it develops synthetic graphite production in Europe and North America.
Vianode CEO Burkhard Straube told Reuters that the company will require additional support as it moves into its next stage of growth. Vianode has appointed JP Morgan to assist with the process and is seeking to secure a partner by the end of the year.
Vianode Expands Synthetic Graphite Production
Vianode specializes in synthetic graphite for lithium-ion battery anodes. Its first large-scale production facility, Via One, has been operating in Herøya, Norway, since 2024. The company began producing synthetic graphite in 2021 through a pilot facility in Kristiansand.
Vianode describes Via One as the world’s most sustainable synthetic anode graphite plant. Once fully ramped up, the Norwegian facility is expected to produce around 2,000 tonnes of battery material annually, which the company estimates could supply batteries for approximately 35,000 electric vehicles.
Vianode began construction of its second facility, Via Two, in St. Thomas, Ontario, toward the end of 2025. The plant is being developed near Volkswagen’s PowerCo facility, although General Motors is expected to be its anchor customer.
Company Considers Partnership or Acquisition
The search for a strategic partner comes as Vianode seeks to finance and support its next expansion phase.
Straube said the company is considering different structures, including a partnership and a full acquisition. The potential partner could contribute funding, industrial capabilities or broader strategic support.
Swedish private equity firm Altor has been Vianode’s sole funder since 2024, after Norsk Hydro withdrew as a shareholder.
Altor spokesperson Andreas Hamrin said Vianode has demonstrated both its technology and commercial potential.
“It is an attractive case for the right partner, with Vianode having proven both its technological and commercial viability,” Hamrin said.
Vianode is one of a relatively small number of non-Asian companies seeking to establish production of synthetic graphite for the battery industry. Reuters has reported that China controls approximately 95% of the global supply of battery-grade graphite.
North American Expansion Targets 2029 Production
Vianode shifted its expansion focus toward North America in 2023, when the United States offered stronger incentives and regulatory support for domestic battery supply chains.
Production at the Canadian facility is currently scheduled to begin in 2029, later than the company’s original plans. The project is intended to supply graphite materials to battery and automotive customers in North America.
The Canadian expansion is part of Vianode’s strategy to establish production closer to major battery markets while reducing reliance on concentrated global supply chains.
Vianode Advances Graphite Recycling
Alongside its production expansion, Vianode has also been working on recycling battery manufacturing waste. The company and Italian battery manufacturer FAAM previously demonstrated a process for recovering graphite concentrate from battery production waste and processing it into new anode material.
The resulting recycled graphite demonstrated electrochemical performance comparable to virgin graphite materials in the companies’ testing.
Vianode and FAAM plan to continue developing and scaling the process for industrial applications. The work is intended to return graphite recovered from production waste to the battery value chain rather than treating the material as waste.
The recycling project adds another element to Vianode’s broader strategy as it seeks to establish a larger position in the battery materials market while expanding production capacity in Norway and North America.
