Vianode Pledges $2.3 Billion to Make Synthetic Graphite in Ontario
A rendering of the Vianode production facility for low-emission synthetic anode graphite in Ontario, Canada.
Source: VianodeNorway’s Vianode AS will spend C$3.2 billion ($2.3 billion) to build a new synthetic graphite factory in Canada’s most populous province, the first of its kind in North America.
The Ontario government announced the investment Thursday in St. Thomas, the city about 125 miles from Toronto where the plant will be located. It said it’s prepared to lend as much as C$670 million to the project. Vianode has also received a letter of interest for as much as $500 million in potential financing from Canada, along with $300 million from the German government.