ABG Sundal Collier acted as sole financial adviser to Elkem in connection with the establishment of a three-way partnership with Hydro and Altor in Vianode

ABG Sundal Collier acted as sole financial adviser to Elkem in connection with the establishment of a three-way partnership with Hydro and Altor in Vianode
On Wednesday 6 April 2022 Elkem, Hydro and Altor (Altor Fund V) announced the establishment of an industrial partnership securing growth capital for Vianode (“the Company”), a producer of sustainable battery materials incubated in Elkem. The new partnership with Elkem, Hydro and Altor will bring complementary skillsets to the further industrial development and commercialization of Vianode, with a clear ambition of establishing Vianode as an integral part of the European battery value chain. The total investments for the first-phase plant and preparations for a potential full-scale plant are estimated at around NOK 2 billion. Following the transaction Hydro and Altor will represent 30% of the shareholding respectively, with Elkem retaining 40%.
Vianode, founded in 2021, is a producer of sustainable battery materials that has been developed within Elkem for several years. The Company has developed a range of synthetic graphite products for batteries with unique performance characteristics and significantly lower CO2 emissions than commercial products offered in the market today. Vianode has in its initial phases focused on developing its footprint within synthetic graphite, the most applied active anode material today, and has leveraged Elkem’s capabilities within high-temperature processes. In the longer run, Vianode aims to drive further innovation and participate in developing next-gen battery materials.
The capital raised will be used to accelerate Vianode into its next development stage and commercialization, and to position it for a potential investment decision for the first phase of a full-scale plant at Herøya Norway in H1 2022. Vianode expects the Herøya facility to produce synthetic graphite for more than 20,000 EVs per year in its first stage, while it fully invested is expected to have the ability to produce volumes serving more than 1,000,000 EVs per year.