Oslo ,11 March 2024 Elkem has decided to exit its financial investment in the advanced battery materials company Vianode. This is in line with the previously announced comprehensive programme for earnings improvements and capex reductions inElkem , and a focus onElkem's core business. Going forward, Vianode will continue to be backed by global aluminium and renewable energy company Hydro and Altor Fund V, a fund managed byAltor Fund Manager . Through the highly skilled employees who have joined Vianode fromElkem since its founding in 2021, Vianode will continue to benefit from world-class competence in advanced battery materials. The parties have agreed that the terms of this transaction shall not be disclosed. This release contains inside information related toElkem ASA pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This release is issued byOdd-Geir Lyngstad , VP Finance and Investor Relations,Elkem ASA . Date and time of publication:12:35 CET ,11.03.2024 . For further information, please contact:Odd-Geir Lyngstad VP Finance and Investor Relations Tel: +47 976 72 806 Email: odd-geir.lyngstad@elkem.comMaria Ekornes Myhre Communication Manager Tel: +47 994 12 707 Email: maria.ekornes.myhre@elkem.com AboutElkem Elkem is one of the world's leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity.Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,400 people has a joint commitment to stakeholders: Delivering your potential. In 2023,Elkem achieved an operating income ofNOK 35.5 billion and CDP ratings of A on Forests, and A- on Climate Change and Water Security.Elkem is listed on theOslo Stock Exchange (ticker: ELK), where the company is also included in the ESG Index. www.elkem.com
Click here for more information
© Oslo Bors ASA, source