Since 2017 Hydro Batteries has engaged in selected ventures within the battery value chain.

Hydro’s experience in developing industries based on renewable energy form the foundation for our battery businesses. We have made selective investments in assets that combine innovative sustainable solutions and high value potential with the opportunity to learn and contribute as an active industrial owner. We invest with complementary industrial and financial partners, and we have access to Hydro’s full technological and operational capabilities which we utilize to support industrialization of innovative solutions in the companies we are invested in. With these investments we already have a strong track record and a significant growth potential.  

The battery sector is expected to grow very fast globally and in Europe, mainly on the back of the ongoing automotive industry transformation from fossil fuel to electrical vehicles. Our dedicated team is systematically building further competence through hiring experts and actively developing and expanding Hydro’s battery footprint. We are currently investing NOK 0.5-1.0 billion per year.

2030 Strategy

Batteries targets growth within sustainable battery materials by leveraging Hydro’s capabilities. Industrializing and scaling innovative Circular Solutions and Anode Materials are the two main pillars of this strategy. Securing sufficient raw materials for the green energy transition is a challenge for Europe, and Hydro is in a strong position to contribute. The growing demand for a more sustainable battery value chain underscores the importance of producing battery materials in a responsible way and recovering and reusing the materials in batteries to avoid waste. The recycling of batteries is also necessary for fulfilment of emerging European regulations governing batteries.

To support the sustainable battery materials strategy and position for next generation technologies, Batteries builds technology platform through R&D and selected emerging technology investments.

We will also continue developing the marine segment leader Corvus and other portfolio holdings with the aim to realize full value potential for each company. We will contribute to good industrial solutions and will manage our portfolio actively to maximize value creation.

Sustainable battery materials

The battery supply chain faces several obstacles including high costs and environmental and social impacts associated with the extraction and processing of key metals. Sustainability is the very foundation of Hydro Batteries’ 2030 strategy. Our goal is to be sustainability leading, with clear targets and requirements on climate, environmental and social sustainability. Our sustainability principles guide our work and our investment choices across the entire supply chain. 

^{* For scope 1, 2 and 3 emissions, raw materials, but not remaining fossil fuel in user phase}