Hydro acquires remaining shares in Hydrovolt for NOK 78 million
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Update time : 2025-02-13 16:57:50
Hydro has inked an agreement with Northvolt to acquire the remaining shares in Hydrovolt from Northvolt for NOK 78 million, increasing its ownership from 72% to 100%.
Founded in 2020 as a joint venture between Hydro and Northvolt, Hydrovolt recycles EVs and industrial batteries, recovering secondary raw materials like black mass and aluminum.
Since the second half of 2024, Hydro has financed Hydrovolt’s operations alone and is seeking new partnerships for long-term financing and growth.
The transaction is expected to close by the end of the first quarter of 2025, pending certain conditions, including court approvals.
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