Oslo — Norwegian renewable energy company Norsk Hydro has announced that Vianode, a manufacturer of materials for greener batteries, will invest 2 billion Norwegian kroner ($193 million) in a battery plant in Norway.
Vianode, a company owned by Elkem, Hydro and Altor, has decided to invest the sum in a battery materials plant at Herøya, Norsk Hydro said in a statement on Wednesday.
The company noted that the industrial plant will produce anode graphite for about 20,000 electric vehicles (EVs) per year by 2024.
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.
Founded in 2021, Vianode has around 60 employees currently. The investment decision means that the company will be recruiting approximately 100 new hires, bringing the total to around 160 by the end of 2023.
With a potential investment decision for a second phase plant, this can double to 300 employees by the end of 2026, it said.
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