NorthVault, Swedish battery developer and Norwegian aluminum and renewable energy company Norsk Hydro has announced plans to expand its battery recycling joint venture (JV), HydroVolt, to continental Europe by setting up its first plant in Norway. Northvolt, Battery, Norsk Hydro, Hydrovolt, Car Battery
Hydrovolt is looking for positions in some of Europe’s largest car markets, such as Germany and France, to begin operations by 2024. The company aims to recycle 150,000 batteries per year by 2025 and increase that number to half a million by 2030. .
According to JV, Hydro will use 5% of the energy required to make aluminum to lead the metal back to production. NorthVault will take powders containing nickel, manganese, cobalt and lithium along with plastic and copper to recover 95% of the battery’s components. The company aims to use 50% recyclable materials for battery production by 2030.
The company has started its commercial operations with an advantage that can recycle 25,000 car batteries per year, equivalent to the total number of cells reaching the end of their life in Norway.
“There is no point in building a very large plant in Norway. It is a primary market but it is not such a big market. We want to bring expansion closer to where large volumes will occur, “said Emma Nehrenheim, NorthVault’s chief environmental officer.
NorthVault is also looking at the US market but there are no specific plans for HydroVolt. We want to industrialize Europe first. On the other hand, the United States is becoming a more attractive market, “said Nehrenheim.