Hydrovolt Fully Joins the Hydro Family!

Norsk Hydro acquires Hydrovolt, betting on battery recycling to drive Europe's circular energy future

14 Jan 2025

In a power play reshaping Europe’s battery recycling landscape, Norway’s Norsk Hydro has acquired full ownership of Hydrovolt by purchasing Swedish partner Northvolt’s remaining stake for $6.8 million. The move signals Hydro’s intensified focus on circular energy strategies as Europe accelerates its green transition.

Hydrovolt’s flagship facility in Fredrikstad already processes thousands of tons of used EV batteries annually, recovering high-value materials such as lithium, nickel, and cobalt. With mounting EU regulations demanding increased use of recycled inputs in battery manufacturing, Hydro’s takeover puts it in pole position to meet and lead these new standards.

This strategic shift arrives as Northvolt grapples with financial pressures and doubles down on gigafactory expansion in Europe and North America. Stepping away from Hydrovolt allows Northvolt to realign its capital toward core production, while Hydro sharpens its competitive edge in the recycling domain.

“Hydro can now grow Hydrovolt with unmatched agility,” said an industry analyst. “This is a forward-thinking play that elevates recycling from a regulatory checkbox to a core pillar of battery supply.”

Owning Hydrovolt outright gives Hydro the freedom to ramp up capacity, drive technology innovation, and explore expansion into new recycling hubs. It underscores a growing industry consensus: the future of batteries depends just as much on how they're deconstructed as on how they're built.

As demand for EVs and energy storage systems surges, the pressure to secure sustainable, cost-effective raw materials intensifies. Hydro’s bold acquisition sends a clear message: recycling isn’t just part of the battery economy. It is the battery economy.

This move not only consolidates Hydro’s position in Europe’s battery value chain but also redefines what it means to be energy-forward in a circular era. In the race for battery dominance, Hydro isn’t just keeping pace. It is setting it.