The commercialisation of Stora Enso's lignin-based innovations is progressing. In October 2022, we signed a Letter of Intent with Beyonder, a Norwegian energy storage technology company. The Letter of Intent covers optimisation of properties and commercial deliveries of lignin-based anode material for batteries after industrial-scale production has started.
There is a global demand for sustainable and environmentally friendly energy storage. Graphite, a fossil-based material that is usually used as anode material for batteries today, is often mined in Asia in unsatisfactory conditions. Stora Enso aims at creating a sustainable European supply chain for the battery industry together with its strategic partners, using renewable materials that grow back. Stora Enso's wood-based solution, lignin-based carbon called Lignode® by Stora Enso, can be used in batteries, typically used in consumer electronics, electric vehicles, and in large-scale energy storage systems. The lignin that Stora Enso uses for making the anode material comes from trees grown in sustainably managed forests in the Nordics.
The journey towards eco-friendlier batteries has taken another step forward, as Stora Enso has signed a Letter of Intent with a Norwegian company Beyonder, who develops and manufactures eco-friendly and high-performance batteries for industrial use ranging from uninterruptible power source buffers for wind or solar parks to mobility applications with high start-up currents such as ferries, buses, and construction machinery. Battery material that is made of European wood is a vital part of developing sustainable batteries, therefore, Beyonder and Stora Enso intend to collaborate for using Lignode as anode material in Beyonder's battery cells.
Together with our partners, we progress with our ambition to build the world's greenest batteries. The renewable future grows in the forest.