Norwegian aluminium producer Hydro has announced plans to cancel its green hydrogen business, citing challenging market conditions, although it will continue to back a hydrogen-fuelled smelting pilot project.
The announcement came ahead of Norsk Hydro’s Capital Markets Day 2024, where the company stated that no more capital will be addressed to its Hydro Battery and Hydro Havrand subsidiaries.
“The strengthen the focus on Hydro’s 2030 strategy and address challenging market conditions in the batteries and green hydrogen sectors, battery materials and green hydrogen will no longer be strategic growth areas for Hydro and no further capital will be allocated,” the company wrote online.
... to continue reading you must be subscribed
