Northvolt's decision to sell its remaining shares in Hydrovolt enhances Hydro's ownership, indicating strategic alignment amidst Northvolt's financial restructuring and bankruptcy proceedings.
Despite selling Hydrovolt shares, Northvolt will maintain a commercial collaboration with Hydro, demonstrating the interconnected roles both companies play in Europe's battery recycling sector.
Hydrovolt, established as a joint venture, focuses on advancing recycling technology to recover materials from electric vehicle batteries, aiming for zero waste and promoting a circular economy.
The increase in Hydro's stake to 100% in Hydrovolt comes as Northvolt seeks to reorganize and streamline its core operations following a series of financial and operational challenges.
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