Elkem, Hydro and Altor accomplice to speed up progress of Vianode, producer of sustainable battery supplies

OSLO, Norway , April 6, 2022 /PRNewswire/ — Elkem, Hydro and Altor (Altor Fund V) as we speak introduced a partnership with the intention to speed up the expansion of Vianode, a producer of sustainable battery supplies. An funding determination for a possible first-phase plant at Herøya, Norway, is predicted within the first half of 2022.

Vianode has developed a spread of artificial graphite merchandise for batteries with distinctive efficiency traits and produced with considerably decrease CO2 emissions than as we speak’s customary supplies – supporting the ambitions of main battery cell and automotive producers. In the present day, an electrical automobile (EV) accommodates on common 40-70 kg of graphite, representing an important part of the battery. Vianode’s merchandise are developed based mostly on specialised know-how in high-temperature processes, closed manufacturing programs, decrease vitality consumption and entry to renewable vitality.

Based in 2021, Vianode at present has round 50 staff. The corporate builds on Elkem’s expertise in superior materials options, its in-house analysis and improvement sources, in addition to the sturdy efficiency of Vianode’s industrial pilot plant in Kristiansand, Norway. After this transaction, Hydro and Altor will every have 30% possession in Vianode, whereas Elkem will retain the remaining 40% possession.

“I wish to congratulate the events on a really thrilling industrial collaboration! The Norwegian Authorities has nice ambitions for a inexperienced industrial enhance the place batteries are considered one of six focus areas. The aim is to create new, inexperienced jobs, enhance mainland funding, enhance exports outdoors oil and fuel and scale back greenhouse fuel emissions. These are the form of initiatives and partnerships we would like extra of after we now will undergo the most important restructuring of the Norwegian economic system ever,” says Norwegian Minister of Commerce and Trade, Jan Christian Vestre.

An funding determination for a possible first-phase plant for Vianode is predicted through the first half of 2022. This plant could have roughly 100 staff and produce graphite for greater than 20,000 EVs per yr. A possible full-scale plant will produce graphite for greater than 1 million EVs per yr and is predicted to extend the variety of staff in Vianode to round 300, enabling greater than 1,000 inexperienced jobs together with exterior results.

The overall investments within the first-phase plant and preparations for a possible full-scale plant are estimated at round NOK 2 billion. The plant improvement is pending clarifications associated to framework situations, together with public assist mechanisms and long-term entry to aggressive renewable vitality and grid infrastructure.

“The marketplace for battery supplies is rising at an exponential fee and growing sustainable worth chains is crucial for the inexperienced transformation. Vianode goals to grow to be a number one producer of sustainable battery supplies, and this represents a pretty progress alternative for Elkem. Hydro and Altor each add vital expertise and experience in growing large-scale industrial initiatives within the battery worth chain. Via complementary skillsets, the partnership with Hydro and Altor will contribute to creating Vianode a extremely useful contribution to the European battery worth chain,” says Elkem CEO, Helge Aasen.

“We’re excited to accomplice up with Elkem and Altor to industrialize Vianode. We look ahead to using our trade scaling capabilities together with venture execution for giant industrial initiatives, our materials and course of competence and expertise in addition to our monitor report from serving the automotive OEM segments for many years. Vianode is an effective match for our strategic path of rising in renewable vitality and new-energy options,” says Hilde Merete Aasheim, Hydro President & CEO.

“We’re thrilled to accomplice with Elkem and Hydro on this very thrilling alternative. Vianode is completely positioned to form the way forward for the automotive trade and will probably be an necessary contributor to the inexperienced transition and a carbon impartial future. We have now expertise from partnerships in different inexperienced transition initiatives the place total industries are being reshaped, and with Vianode we are going to construct a brand new inexperienced EV provide chain in Europe. We’re very impressed by the work Elkem has performed with Vianode, and we expect will probably be a really thrilling partnership with each Elkem and Hydro,” says Tom Jovik, Principal at Altor.

The transaction is topic to formal approval by all events and regulatory approvals, together with competitors authorities.

Press assembly

Elkem CEO Helge Aasen, Hydro CEO Hilde Merete Aasheim and Altor principal Tom Jovik will collectively current the partnership and be obtainable for questions in a press assembly as we speak at 10:00-10:45 at Vækerø Hovedgård (Drammensveien 256, 0277 Oslo, Norway). Please enroll upfront by way of Maria Melfald Tveten ([email protected]).

For additional info, please contact: 
Odd-Geir Lyngstad 
VP Finance & Investor Relations 
Tel: +47 976 72 806 
E mail: [email protected] 
Fredrik Norman 
VP Company Communications & Public Affairs 
Tel: +47 918 66 567 
E-mail: [email protected]

This info is taken into account to be inside info pursuant to the EU Market Abuse Regulation and is topic to the disclosure necessities pursuant to Part 5-12 the Norwegian Securities Buying and selling Act.

This inventory alternate announcement was printed by Odd-Geir Lyngstad, VP Finance & Investor Relations at Elkem ASA, on 6 April 2022 at 7.00 CEST.

About Vianode

Vianode, based in 2021, is a producer of sustainable battery supplies. The corporate is constructed upon technological developments and expertise developed over a number of years. Vianode’s vary of artificial graphite merchandise affords distinctive efficiency traits and are produced with considerably decrease CO2 emissions than as we speak’s customary supplies – supporting the ambitions of main battery cell and automotive producers. An funding determination for a possible first-phase battery supplies plant at Herøya, Norway, is predicted within the first half of 2022. Vianode is backed by Elkem (40%), Hydro (30%) and Altor (30%). www.vianode.com

About Elkem

Elkem is without doubt one of the world’s main suppliers of superior materials options shaping a greater and extra sustainable future. The corporate develops silicones, silicon merchandise and carbon options by combining pure uncooked supplies, renewable vitality and human ingenuity. Elkem helps its prospects create and enhance important improvements like electrical mobility, digital communications, well being and private care in addition to smarter and extra sustainable cities. With a powerful monitor report since 1904, its world group of greater than 7,000 individuals has a joint dedication to stakeholders: Delivering your potential. In 2021, Elkem obtained a Platinum rating from EcoVadis, which rated the corporate among the many world’s high 1% on sustainability transparency, and the corporate achieved an working revenue of NOK 33.7 billion. Elkem is listed on the Oslo Inventory Change (ticker: ELK). www.elkem.com

About Hydro

Hydro is a number one industrial firm that builds companies and partnerships for a extra sustainable future. We develop industries that matter to individuals and society. Since 1905, Hydro has turned pure sources into useful merchandise for individuals and companies, making a secure and safe office for our 31,000 staff in additional than 140 areas and 40 international locations. In the present day, we personal and function varied companies and have investments with a base in sustainable industries. Hydro is thru its companies current in a broad vary of market segments for aluminium, vitality, steel recycling, renewables and batteries, providing a novel wealth of data and competence. Hydro is listed on the Oslo Inventory Change (ticker: NHY). www.hydro.com

About Altor

Since its inception, the household of Altor funds has raised some EUR 8.3 billion in complete commitments. The funds have invested in extra of EUR 5 billion in additional than 75 firms. The investments have been made in medium-sized predominantly Nordic firms with the purpose to create worth by means of progress initiatives and operational enhancements. Amongst present and previous investments are H2 Inexperienced Metal, OX2 and Helly Hansen. For extra info go to www.altor.com

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Elkem, Hydro and Altor accomplice to speed up progress of Vianode, producer of sustainable battery supplies