Vianode to Invest $193.5 Million in Battery Materials Plant in Norway
September 21 2022 - 3:57AM
Dow Jones News
By Dominic Chopping
Vianode, a company owned by Elkem, Hydro and Altor Equity
Partners, said Wednesday that it will invest around 2 billion
Norwegian kroner ($193.5 million) in its first industrial-scale
plant for sustainable battery materials at Heroya in Norway.
Vianode said the industrial plant at Heroya will produce
graphite used in batteries for about 20,000 electric vehicles a
year by 2024, with a second phase plant expected to provide battery
materials to 2 million electric vehicles a year by 2030.
Founded in 2021, Vianode has around 60 employees and with this
investment the company will be recruiting around 100 new hires by
the end of 2023. With a potential investment decision for a second
phase plant, this could increase to 300 employees by the end of
2026, it added.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 21, 2022 03:42 ET (07:42 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Norsk Hydro ASA (QX) (USOTC:NHYDY)
Historical Stock Chart
From Nov 2024 to Dec 2024
Norsk Hydro ASA (QX) (USOTC:NHYDY)
Historical Stock Chart
From Dec 2023 to Dec 2024