Hydro acquires remaining shares in Hydrovolt
Hydro has announced the acquisition of the remaining shares in battery recycling company Hydrovolt from Northvolt for NOK 78 million, increasing its ownership from 72% to 100%. Originally established in 2020 as a 50/50 joint venture between Hydro and Northvolt, Hydrovolt specializes in recycling EV and industrial batteries, creating circular solutions by recovering secondary raw materials, including black mass for battery production and aluminium for recycling.
Since the second half of 2024, Hydro has been solely financing Hydrovolt's operations and is actively seeking new partnerships to secure long-term financing and growth. The company maintains confidence in Hydrovolt's potential to become a leading European battery recycling player. The transaction is expected to close by the end of Q1 2025, subject to conditions including approval from relevant courts under Northvolt's Chapter 11 process.
Hydro ha annunciato l'acquisizione delle rimanenti azioni della società di riciclo batterie Hydrovolt da Northvolt per 78 milioni di NOK, aumentando così la propria partecipazione dal 72% al 100%. Fondata nel 2020 come joint venture 50/50 tra Hydro e Northvolt, Hydrovolt si specializza nel riciclo di batterie per veicoli elettrici e industriali, creando soluzioni circolari recuperando materie prime secondarie, inclusa la massa nera per la produzione di batterie e alluminio per il riciclo.
Dalla seconda metà del 2024, Hydro ha finanziato esclusivamente le operazioni di Hydrovolt e sta attivamente cercando nuove collaborazioni per garantire finanziamenti e crescita a lungo termine. L'azienda mantiene la fiducia nel potenziale di Hydrovolt di diventare un attore di punta nel riciclo delle batterie in Europa. Si prevede che l'operazione si chiuda entro la fine del primo trimestre del 2025, subordinata a condizioni comprese le approvazioni dei tribunali competenti nel processo di Chapter 11 di Northvolt.
Hydro ha anunciado la adquisición de las acciones restantes de la empresa de reciclaje de baterías Hydrovolt a Northvolt por 78 millones de NOK, aumentando su participación del 72% al 100%. Originalmente establecido en 2020 como una empresa conjunta 50/50 entre Hydro y Northvolt, Hydrovolt se especializa en el reciclaje de baterías para vehículos eléctricos e industriales, creando soluciones circulares al recuperar materias primas secundarias, incluyendo masa negra para la producción de baterías y aluminio para el reciclaje.
Desde la segunda mitad de 2024, Hydro ha financiado exclusivamente las operaciones de Hydrovolt y busca activamente nuevas asociaciones para asegurar financiamiento y crecimiento a largo plazo. La empresa mantiene la confianza en el potencial de Hydrovolt para convertirse en un líder en el reciclaje de baterías en Europa. Se espera que la transacción se cierre para finales del primer trimestre de 2025, sujeto a condiciones que incluyen la aprobación de los tribunales correspondientes en el proceso de Capítulo 11 de Northvolt.
하이드로는 노르트볼트로부터 배터리 재활용 회사 하이드로볼트의 나머지 주식을 7,800만 크로네에 인수했다고 발표했으며, 지분율이 72%에서 100%로 증가했습니다. 하이드로와 노르트볼트 간의 50/50 합작 투자로 2020년에 설립된 하이드로볼트는 전기차 및 산업용 배터리 재활용에 특화되어 있으며, 배터리 생산을 위한 블랙 매스와 재활용을 위한 알루미늄을 포함한 2차 원자재를 회수하여 순환 솔루션을 만들어냅니다.
2024년 하반기부터 하이드로는 하이드로볼트의 운영을 단독으로 금융 지원하고 있으며, 장기 금융 및 성장을 확보하기 위한 새로운 파트너십을 적극적으로 모색하고 있습니다. 이 회사는 하이드로볼트가 유럽 배터리 재활용 분야의 선두 주자가 될 잠재력에 대해 확신하고 있습니다. 이 거래는 2025년 1분기 말까지 종료될 것으로 예상되며, 이는 노르트볼트의 챕터 11 프로세스에 따른 해당 법원의 승인 등 조건에 따라 달라질 수 있습니다.
Hydro a annoncé l'acquisition des actions restantes de l'entreprise de recyclage des batteries Hydrovolt auprès de Northvolt pour 78 millions de NOK, augmentant ainsi sa participation de 72 % à 100 %. Initialement établi en 2020 en tant que coentreprise 50/50 entre Hydro et Northvolt, Hydrovolt se spécialise dans le recyclage des batteries de véhicules électriques et industrielles, créant des solutions circulaires en récupérant des matières premières secondaires, y compris de la masse noire pour la production de batteries et de l'aluminium pour le recyclage.
Depuis la seconde moitié de 2024, Hydro finance exclusivement les opérations d'Hydrovolt et recherche activement de nouveaux partenariats pour garantir des financements et une croissance à long terme. L'entreprise garde confiance dans le potentiel d'Hydrovolt pour devenir un acteur de premier plan du recyclage des batteries en Europe. La transaction devrait se clôturer d'ici la fin du premier trimestre 2025, sous réserve de conditions, y compris l'approbation des tribunaux concernés dans le cadre du processus de Chapitre 11 de Northvolt.
Hydro hat die Übernahme der verbleibenden Anteile an dem Batterierecycling-Unternehmen Hydrovolt von Northvolt für 78 Millionen NOK angekündigt und damit seinen Besitzanteil von 72 % auf 100 % erhöht. Ursprünglich 2020 als 50/50-Joint Venture zwischen Hydro und Northvolt gegründet, spezialisiert sich Hydrovolt auf das Recycling von E-Fahrzeug- und Industriebatterien und schafft zirkuläre Lösungen, indem es Sekundärrohstoffe zurückführt, einschließlich schwarzer Masse für die Batteriefertigung und Aluminium für das Recycling.
Seit der zweiten Hälfte von 2024 finanziert Hydro ausschließlich die Operationen von Hydrovolt und sucht aktiv nach neuen Partnerschaften, um langfristige Finanzierung und Wachstum zu sichern. Das Unternehmen hat Vertrauen in das Potenzial von Hydrovolt, ein führender Player im europäischen Batterierecycling zu werden. Der Abschluss der Transaktion wird bis Ende des ersten Quartals 2025 erwartet, vorbehaltlich der Genehmigungen der zuständigen Gerichte im Rahmen des Chapter-11-Verfahrens von Northvolt.
- Full ownership acquisition strengthens Hydro's position in battery recycling market
- Relatively modest acquisition cost of NOK 78 million for remaining stake
- Established operational infrastructure in growing EV battery recycling sector
- Continued commercial collaboration with Northvolt's Revolt facility
- Solo financing burden since H2 2024 indicates potential cash flow pressure
- Need for new partnerships suggests additional capital requirements
- Acquisition subject to Chapter 11 court approval creates closing uncertainty
Hydro and Northvolt have signed an agreement where Hydro will acquire the remaining shares in the battery recycler Hydrovolt for NOK 78 million. Hydro is increasing its ownership in Hydrovolt from 72 to 100 percent through this transaction.
Hydrovolt is a battery recycling and raw materials company established in 2020 as a 50/50 joint venture between Hydro and Northvolt. Hydrovolt is recycling EV and industrial batteries, creating a circular solution for end-of-life batteries by recovering secondary raw materials, including black mass for battery production and aluminium for recycling.
Since the second half of 2024 Hydro has been financing Hydrovolt’s operations alone. Hydro is actively exploring new partnerships to secure the long-term financing and growth of Hydrovolt. Hydro is confident in Hydrovolt's potential and ability to become a leading European player in battery recycling, and that it remains attractive to the right partner.
Northvolt's battery recycling plant, Revolt, and Hydrovolt intend to continue commercial collaboration, as two of the earliest movers and complementary players in the European battery recycling value chain.
The closing of the transaction is expected by the end of Q1 2025 pending certain conditions, including approval by the relevant courts in accordance with Northvolt’s Chapter 11 process.
Investor contact:
Martine Rambøl Hagen
Martine.Rambol.Hagen@hydro.com
+47 91708918
Media contact:
Halvor Molland
Halvor.Molland@hydro.com
+47 92979797
FAQ
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