Norsk Hydro (Hydro) is to drop investment in green hydrogen and batteries after citing challenging market conditions.
While the Norwegian company will continue to test green hydrogen technology at the Høyanger recycling unit for internal decarbonisation, it will focus more on low-carbon and recycled aluminium and renewable power generation under a new NOK6.5bn ‘improvement’ programme, it announced as part of its Capital Markets Day 2024.
Hydro’s Alumetal recycling plant in Kety, Poland, will increase the use of renewable energy to produce low-carbon, recycled aluminium products for the European green transition.
Long term, Hydro’s R&D focuses on CO2 free aluminium production and carbon capture, with the HalZero pilot on track for 2030.
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