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    STERV   FI0009005961

STORA ENSO OYJ

(STERV)
  Report
Delayed Nasdaq Helsinki  -  11:29 2022-12-05 am EST
14.57 EUR   +1.68%
09:19aChange in Stora Enso's Group Leadership Team
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09:19aStora Enso - Climate-smart interior is 3D-printed
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12/05Stora Enso Oyj : Climate-smart interior is 3D-printed
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Northvolt and Stora Enso to develop batteries from forestry byproduct

07/22/2022 | 01:34am EST
FILE PHOTO: Northvolt logo is pictured in the Northvolt office in Stockholm

HELSINKI (Reuters) - Swedish battery maker Northvolt and Finnish-Swedish forestry company Stora Enso are trying to develop batteries from forestry byproduct lignin, the companies said on Friday.

A part of wood that binds tree fibers together, lignin accounts for 20-30% of a tree and used to be burned for energy. After years of research and development, it could be turned into new products by forestry giants letting go of paper.

"Our lignin-based hard carbon...will secure the strategic European supply of anode raw material," head of Stora's biomaterials unit Johanna Hagelberg said in a statement outlining a development agreement between the companies.

Northvolt in February bought an old Swedish paper mill from Stora to turn it into a cathode material factory by late 2024 with an annual production capacity of over 100 gigawatt hours.

German carmaker Volkswagen has been investing hundreds of millions of dollars in Northvolt in order to secure battery supply for its electric vehicles.

In March 2017, Stora's head of innovation Mikael Hannus told Reuters that commercial production of lignin-based products would be 5-10 years away.

(Reporting by Essi Lehto; Editing by Marguerita Choy)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
STORA ENSO OYJ 1.68% 14.565 Delayed Quote.-9.76%
VOLKSWAGEN AG -0.74% 139.8 Delayed Quote.-21.23%
All news about STORA ENSO OYJ
09:19aChange in Stora Enso's Group Leadership Team
AQ
09:19aStora Enso - Climate-smart interior is 3D-printed
AQ
12/05Stora Enso Oyj : Climate-smart interior is 3D-printed
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12/05Stora Enso Appoints Minna Björkman as Head of Sourcing and Logistics and a Member of th..
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12/01Stora Enso received approval for the acquisition of De Jong Packaging Group
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12/01Stora Enso Receives Approval for the Acquisition of De Jong Packaging Group
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11/29Stora Enso - Pioneering sustainable packaging technology with PulPac
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11/29European Commission OKs Stora Enso's Purchase of Dutch-Based De Jong, DJV
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11/28Stora Enso Oyj : Pioneering sustainable packaging technology with PulPac
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11/25Stora Enso - In the future, car batteries can be made from trees and this is why Europe..
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Financials
Sales 2022 11 770 M 12 382 M 12 382 M
Net income 2022 1 247 M 1 312 M 1 312 M
Net Debt 2022 2 071 M 2 179 M 2 179 M
P/E ratio 2022 9,17x
Yield 2022 4,28%
Capitalization 11 704 M 12 312 M 12 312 M
EV / Sales 2022 1,17x
EV / Sales 2023 1,25x
Nbr of Employees 22 000
Free-Float 85,4%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 14,57 €
Average target price 16,12 €
Spread / Average Target 10,7%
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Managers and Directors
Annica Bresky President & Chief Executive Officer
Seppo Matti Parvi Chief Financial Officer
Antti Mikael Mńkinen Chairman
Hock Goh Independent Director
Elisabeth Fleuriot Independent Director
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