Norsk Hydro Takes Full Ownership of HydroVolt Battery Recycling Venture

Norwegian aluminum producer Norsk Hydro has announced plans to acquire the remaining 28% stake in HydroVolt, its battery recycling joint venture with Northvolt, for NOK 78 million (approximately USD 7.4 million). The move comes as Northvolt files for Chapter 11 bankruptcy, with the transaction expected to be finalized by the end of March.

HydroVolt was founded in 2020 as a 50-50 partnership between Hydro and Northvolt and operates one of Europe’s largest EV battery recycling plants in Fredrikstad, Norway. The plant plays a key role in Hydro’s recycling strategy by recovering aluminum from spent batteries for reuse. Despite the termination of the joint venture agreement, HydroVolt will continue collaborating with Northvolt’s battery recycling operations to strengthen its presence in the European market.