Hydrovolt, a European power battery recycling company, has launched a commercial recycling business in southern Norway. It can process about 12,000 tons of used battery packs every year, and the material recovery rate for used batteries reaches about 95%.
Hydrovolt, a joint venture between Northvolt and aluminium company Hydro, has what is currently Europe's largest power battery recycling plant.
The Hydrovolt plant can process about 12,000 tons of used battery packs per year, with a material recovery rate of about 95% for used batteries.
At the same time, Hydrovolt is working to expand its recycling capacity in Europe, with a long-term goal of recycling around 70,000 tonnes of battery packs by 2025 and around 300,000 tonnes of battery packs by 2030.
According to the data, Northvolt was founded in 2016, and the founder Peter Carlsson is a former Tesla executive. The company has secured more than $50 billion worth of contracts from major customers including BMW, Fluence, Scania, Volkswagen, Volvo Cars and Polestar. According to Northvolt's plan, by 2030, 50% of the company's raw materials will be obtained by recycling batteries.
