Norsk Hydro Acquires Full Ownership of Battery Recycler Hydrovolt

The Norwegian aluminium company finalizes deal with Northvolt, which is restructuring under Chapter 11 bankruptcy protection.

Norsk Hydro has purchased the remaining 28% stake in Hydrovolt from Swedish battery maker Northvolt for 78 million Norwegian crowns ($6.79 million).
Hydrovolt, established in 2020 as a joint venture between Hydro and Northvolt, focuses on recycling EV and industrial batteries to recover materials like black mass and aluminium.
Northvolt, facing financial challenges and production setbacks, has been divesting non-core businesses as part of its Chapter 11 bankruptcy process in the U.S.
Hydro does not plan to remain the sole owner of Hydrovolt long-term and is seeking a new partner to help expand the battery recycling business.
Despite the sale, Northvolt and Hydrovolt will continue collaborating commercially, with Northvolt purchasing recycled black mass for its battery production.