Wikborg Rein has assisted Hydro Energi Invest AS with the investment in Hydro Volt AS
Wikborg Rein has assisted Hydro Energi Invest AS with the investment in Hydro Volt AS. This collaboration contributes to the sustainable management of car batteries and circular economy. We are therefore very pleased to have assisted Hydro Energi Invest AS with this investment and taking part in this development.
Hydro Energi Invest AS becomes the owner of 50 % of the shares in Hydro Volt AS, a joint venture being established with Northvolt AB. Northvolt AB is a large Swedish company in the field of battery cell production.
Hydro Volt's mission is to recycle car batteries and the first factory for recycling such batteries will be built in Norway. The recycling plant will be in Fredrikstad, and production is expected to start in 2021. The plant will to a large extent be automated and have the capacity to process more than 8,000 tonnes of batteries every year.