Norsk Hydro: invests in battery materials

(CercleFinance.com) - On Wednesday the Norwegian industrial group Norsk Hydro announced that its subsidiary Vianode plans to invest about two billion Norwegian kronor (about 200 million euros) in a sustainable battery materials factory that will be located in southern Norway.


In a statement, the aluminium producer said that Vianode aims to produce enough synthetic graphite products to power 20,000 electric vehicle batteries by 2024.

It will produce battery materials for some two million vehicles per year by 2030, which would represent a "significant" share of the European market, the partners say.

For the record, Hydro created Vianode with Elkem, a manufacturer of environmentally friendly metals and materials, and the investment fund Altor.



Copyright (c) 2022 CercleFinance.com. All rights reserved.