SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Northvolt sells stake in recycling company

» Published: 13 January 2025

Northvolt sells stake in recycling company
Photo: Henrik Montgomery/TT

The crisis-stricken Swedish battery manufacturer Northvolt has agreed to sell its 28-percent stake in the jointly owned battery recycling company Hydrovolt to the main owner, the Norwegian energy and aluminum giant Hydro.

Northvolt will receive 78 million Norwegian kronor for the shares.

Hydro states in a statement that it has covered 100 percent of the financing of Hydrovolt's operations since the second half of 2024 and that it is now seeking new partnerships to secure the long-term financing and growth for Hydrovolt.

The transaction must be approved by the bankruptcy court in Texas handling Northvolt's reconstruction process under Chapter 11 of the US bankruptcy legislation.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Fear of tariffs and prices sank Wall Street
1 MIN READ

Fear of tariffs and prices sank Wall Street

Klarna aims to list on the US stock exchange in April
1 MIN READ

Klarna aims to list on the US stock exchange in April

More exchange USA-Japan - but also threat of tariffs
1 MIN READ

More exchange USA-Japan - but also threat of tariffs

Payment problems at the State Liquor Store
1 MIN READ

Payment problems at the State Liquor Store

Fewer new jobs in the USA than expected
1 MIN READ

Fewer new jobs in the USA than expected

Worse economic development expected for Russia
1 MIN READ

Worse economic development expected for Russia

Bound Mortgage Rates on the Way Up
2 MIN READ

Bound Mortgage Rates on the Way Up

The Stockholm Stock Exchange closed the week with a decline
2 MIN READ

The Stockholm Stock Exchange closed the week with a decline

Trade from Shein and Temu Slows Down
1 MIN READ

Trade from Shein and Temu Slows Down

SBAB gains market shares on the mortgage market
1 MIN READ

SBAB gains market shares on the mortgage market

Skanska increases the dividend
1 MIN READ

Skanska increases the dividend

Saab raises forecast – but the stock price falls
2 MIN READ

Saab raises forecast – but the stock price falls

Worse than expected for Schibsted
1 MIN READ

Worse than expected for Schibsted

XXL's Profit Shrinks
1 MIN READ

XXL's Profit Shrinks

India's Central Bank Lowers Interest Rate
1 MIN READ

India's Central Bank Lowers Interest Rate

Housing Prices Fall - May Drop Further
2 MIN READ

Housing Prices Fall - May Drop Further

The Baltic States Sever Electricity Cables to Russia
2 MIN READ

The Baltic States Sever Electricity Cables to Russia

Upwards in China – downwards in Japan
1 MIN READ

Upwards in China – downwards in Japan

United Arab Emirates invests in French AI
1 MIN READ

United Arab Emirates invests in French AI

Amazon both meets and disappoints expectations
2 MIN READ

Amazon both meets and disappoints expectations