Norwegian Minister of Petroleum and Energy raises Vianode flag at site of new battery materials plant

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• USA - English

On Tuesday 8 November, Norwegian Minister of Petroleum and Energy Terje Aasland visited the site of Vianode's first industrial-scale plant for sustainable battery materials at Herøya Industripark in Norway.

PORSGRUNN, Norway, Nov. 8, 2022 /PRNewswire/ -- Aasland was welcomed by Vianode's general manager Stian Madshus, together with representatives from Elkem, Hydro and Altor as well as local government officials, and raised Vianode's flag at the site.

Vianode, owned by Elkem, Hydro and Altor, produces advanced battery materials with a greener footprint. The company will invest around NOK 2 billion to create new industrial jobs and provide critical battery materials. The investment is an important step towards establishing a complete battery value chain in Norway for the European market.

Through the plans at Herøya, Vianode plans to recruit around 100 new employees, contributing to local value creation and around 300 jobs related to the green transition including ripple effects.

"Today we raise the flag for Vianode and the significance this project can have for industrial development in the Telemark region and the development of new, profitable, green jobs in all of Norway. If we are to succeed – and we are – we have to cooperate well. That is why I am particularly pleased that Elkem, Hydro and Altor are working together on this investment, which is now entering a new phase. We will support the development we see at Herøya and the rest of the country. This government's goal is clear: Norway shall be an attractive host country for sustainable and profitable activities through the entire battery value chain and attract the big gigafactories," says Terje Aasland, Norway's Minister of Petroleum and Energy.

The industrial plant at Herøya, Norway, will produce anode graphite for about 20,000 electric vehicles (EVs) per year by 2024. This investment is the first phase in a larger investment plan. The plant construction will be carried out in parallel with preparations for a second phase plant scaled to provide battery materials to 2 million EVs per year by 2030, covering a significant share of the global EV market.

"The establishment of an industrial-scale plant for sustainable battery materials at Herøya represents a historic step for Vianode and its owners. Based on strong support from owners Elkem, Hydro and Altor, Vianode has a solid foundation to succeed with building industrial leadership in advanced battery materials with a green footprint. To succeed in Norway requires competitive framework conditions, and in that context we appreciate today's visit to learn more about our activities and plans," says Asbjørn Søvik, Vianode's interim CEO and executive chair of the board.

The graphite materials from Vianode are produced with up to 90 percent lower CO2 emissions than today's standard materials. The materials have unique performance characteristics and improve the properties in batteries, including faster charging, increased range and longer service life, as well as increased safety and recyclability.

CONTACT:

Fredrik Norman
VP Corporate Communications & Public Affairs, Elkem ASA
Tel: +47 918 66 567
E-mail: [email protected]

Odd-Geir Lyngstad
VP Finance & Investor Relations, Elkem ASA
Tel: +47 976 72 806
Email: [email protected]

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