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Elkem, Hydro And Altor Partner To Accelerate Growth Of Vianode

Elkem, Hydro and Altor, on Wednesday, announced a partnership with the intention to accelerate the growth of Vianode, a producer of sustainable battery materials. An investment decision for a potential first-phase plant at Herøya, Norway, is expected in the first half of 2022.

Upon completion of the transaction, Hydro and Altor will each have 30% ownership in Vianode, while Elkem will retain the remaining 40% ownership.

An investment decision for a potential first-phase plant for Vianode is expected during the first half of 2022. This plant will have about 100 employees and produce graphite for more than 20,000 EVs per year.

Further, the companies noted that a potential full-scale plant will produce graphite for more than 1 million EVs per year and is expected to increase the number of employees in Vianode to around 300, enabling more than 1,000 green jobs including external effects.

The total investments in the first-phase plant and preparations for a potential full-scale plant are estimated at around NOK 2 billion. The plant development is pending clarifications related to framework conditions, including public support mechanisms and long-term access to competitive renewable energy and grid infrastructure.

The deal is subject to formal approval by all parties and regulatory approvals, including competition authorities.

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