Norwegian synthetic graphite producer Vianode is seeking a partner for its next phase of expansion, chief executive Burkhard Straube told Reuters.
Straube said the partner could bring capital, industrial expertise, or a wider strategic relationship.
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Vianode is considering arrangements ranging from a partnership to a full takeover, involving either industrial or financial investors.
The company has hired JP Morgan to support the process and aims to secure a partner as soon as the end of this year.
Straube said Vianode requires a partner with aligned strategic ambitions, alongside the financial capability and capacity to support the company.
Swedish private equity firm Altor has been Vianode’s only financial backer since 2024, when Norsk Hydro said it would sell its stake and stop further funding.
Vianode’s customers include General Motors (GM), as well as clients in energy storage and defence.
In January 2025, GM signed a multibillion-dollar agreement for Vianode to supply synthetic graphite anode materials for electric vehicle (EV) batteries.
GM, Nissan, and Stellantis have reduced their ambitions as demand has cooled and US President Donald Trump has rolled back EV support.
Western companies are seeking to reduce dependence on China.
According to GlobalData, Just Auto’s parent, China dominates battery cell production and key raw-material refining, creating supply-chain, cost, and strategic risks.
GlobalData said the US, Australia, Vietnam, Canada, India, Mexico, and Poland are emerging as alternatives through rare-earth sourcing, lithium extraction, localised EV components, battery-material manufacturing, and China-plus-one supply-chain strategies.
Vianode is constructing a synthetic graphite plant in Ontario, Canada, which could supply material for about 2 million EVs a year, but it needs further funding to complete the project.
It plans to begin production at the facility in 2029, while its Norwegian plant, operational since 2024, is expected to produce 2,000 tonnes annually – enough material for around 35,000 EVs.
