Reported about 9 hours ago
Norsk Hydro ASA is shutting down its battery materials and green hydrogen divisions, reflecting the mounting commercial pressures on companies trying to meet Europe’s green energy targets. Despite past investments since 2017 in battery production and recycling, the high costs and financial strains have led to delays in significant European projects. Although the company will phase out these business units, it will maintain its Hydrovolt battery recycling operation, emphasizing a focus on core operations as it navigates industry challenges.
Source: YAHOO