Norsk Hydro, a Norwegian aluminum and energy company, now fully owns Hydrovolt. They bought the remaining 28% of shares. This happened after co-founder Northvolt AB faced financial trouble.
Hydrovolt’s Role in Battery Recycling
Hydrovolt operates a battery recycling plant in Norway. The plant recycles electric vehicle and industrial batteries. It recovers valuable materials from these batteries. Hydro aims to grow Hydrovolt. They want to be a leader in Europe’s battery recycling market.
Hydro will continue working with Northvolt. They see the value of both companies in battery recycling. Hydro is committed to Hydrovolt’s success. They are exploring new partnerships to support the recycling plant.
A Strategic Move for Growth
Hydro has been fully financing Hydrovolt since mid-2024. This acquisition gives them full control. Hydro sees Hydrovolt’s potential in the European battery recycling market. The deal is expected to close soon. Demand for battery recycling is growing. This is due to the shift towards electric vehicles and sustainable energy. Hydrovolt is well-positioned to meet this demand.
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