Stora Plans €100 Million Investment in Wood-Based Batteries
- Funds would be used for demonstration plant, Sohlstrom says
- New technology could replace made-in-China battery elements
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Stora Enso Oyj is preparing to invest about €100 million ($110 million) in a pioneering project to use wood in electric vehicle batteries and offer an alternative to components currently made in China, according to its chief executive officer.
The funds would be used for a “demonstration-scale unit,” which is significantly bigger than the current pilot facility, Hans Sohlstrom said in an interview in Helsinki where Stora is based. No final investment decision has been made yet, he said.