The loan will provide part financing for Vianode’s first full-scale plant Via ONE at Herøya Industrial Park, the Technology Center in Kristiansand and the Oslo headquarters. The loan is supported by further investments from Vianode’s owner Altor.
Credit: Vianode
Innovation Norway is the Norwegian Government’s main instrument for supporting innovation and development. The loan is part of the Green Industrial Financing program, provided on market terms and not classified as state aid under ESA (EFTA Surveillance Authority) regulations. The funds are an important contribution to Vianode's development and support ongoing work to establish long-term financing for industrial-scale production.
“Vianode’s 200 employees and three sites in Norway are the foundation for innovation, competence development and product qualification which enable our international growth. The loan from Innovation Norway strengthens our execution platform as we progress long-term funding for our multi-billion-dollar phased investment program which will enable Vianode to deliver materials for 3 million electric vehicles per year by 2030,” says Burkhard Straube, CEO of Vianode.
Innovation Norway has previously supported Vianode as part of the Norwegian Government's focus on developing the battery value chain in Norway.
“Vianode is an example of a company built on the unique expertise developed over time in Norway. By leveraging proprietary technology, they can deliver products the world demands with lower emissions than before. The loan helps strengthen the company’s R&D environment in Norway and enables scaling for international growth," says Leon Bakkebø, Director of Banking and Finance at Innovation Norway.
Vianode’s anode graphite cuts CO₂ emissions by up to 90% compared to conventional production. With its first full-scale plant launch at Herøya, the company set a new sustainability standard for high-performance anode graphite. The company aims to nearly halve its product carbon footprint further by 2030.
Vianode recently entered into a multi-billion-dollar long-term supply agreement with General Motors (NYSE: GM) for EV battery-grade anode graphite through 2033. Anode graphite is the largest component in a lithium-ion battery in terms of weight, up to 70 kilos per battery cell, and a key battery material regardless of commercially available technologies. Vianode produces synthetic graphite in high-temperature production processes that differ from natural graphite typically mined from carbon-rich rock formations.