Elkem, Hydro and Altor complete transaction to further develop Vianode as a leading supplier of sustainable battery materials

Vianode recently announced a transaction where Hydro and Altor Equity Partners each will acquire 30% ownership in Vianode, while Elkem will retain the remaining 40% ownership. The transaction is now approved by competition authorities, providing Vianode with significant backing to accelerate the industrialisation of advanced battery materials with a green footprint in Europe.

The closing of the transaction represents an important milestone to accelerate the growth of Vianode as a company. Through the transaction, the partners will contribute to financing a first-phase plant and preparations for a potential full-scale plant, estimated at around NOK 2 billion.

An investment decision for a first-phase plant for Vianode is expected shortly.

For further information, please contact:

Odd-Geir Lyngstad
VP Finance and Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com

Fredrik Norman
VP Corporate Communications & Public Affairs
Tel: +47 918 66 567
E-mail: fredrik.norman@elkem.com