Vianode has hired J.P. Morgan to find a partner for its next expansion phase as Western battery companies seek to reduce reliance on China, which controls about 95% of global battery-grade graphite supply. The Norwegian synthetic graphite producer is seeking capital, industrial expertise or a broader strategic relationship and is open to options ranging from a partnership to a full takeover. It aims to secure a partner by the end of this year. Vianode needs additional funding to complete a synthetic graphite plant in Ontario that could supply about 2 million electric vehicles annually, with production scheduled to begin in 2029. The company has operated a plant in Norway since 2024, with capacity expected to reach 2,000 metric tons per year, enough for about 35,000 electric vehicles, and also serves the energy-storage and defense sectors. The funding search comes after Northvolt’s collapse and amid slower electric-vehicle demand, while General Motors, Nissan, Stellantis and others have scaled back EV ambitions. Swedish private-equity firm Altor has been Vianode’s sole financial backer since 2024, after Norsk Hydro said it would sell its stake and stop further funding. Vianode shifted its expansion focus to North America in 2023, saying Europe lacked comparable incentives, regulatory support and industry readiness for resilient local supply chains.