Login

Norway's Vianode Invests $194 Million In Battery Materials Plant

Vianode will invest 2 billion Norwegian crowns in building a large-scale plant for sustainable battery materials in Norway.
Calendar-icon

By Reuters

clock-icon

1 mins read

Calendar-icon

Published on September 27, 2022

Follow us on

google-news-icon
Story

Highlights

    Vianode, owned by Norsk Hydro, Elkem and Altor, will invest 2 billion Norwegian crowns ($193.51 million) in building a large-scale plant for sustainable battery materials in Norway, the firm said on Wednesday.

    "The decision is an important step towards establishing a complete battery value chain in Norway for the European market," it said in a statement.

    The plant will be able to produce anode graphite for roughly 20,000 electric vehicles (EVs) per year by 2024. Vianode also plans a second-phase plant with the capacity to provide materials to two million EVs per year by 2030, it said.

    "The graphite materials from Vianode are produced with up to 90% lower CO2 emissions than today's standard materials."

    Norway, a big oil and gas producer, aims to diversify its industry base, including capitalising on its access to minerals, metals and rare earths that are key to Europe's sustainable battery-making plans.

    Stay updated with automotive news and reviews right at your fingertips through carandbike.com's Google News

    Related Articles

    Latest News