Hydro Extrusions plans to invest €11.3mn ($13.3mn) to boost its aluminum recycling capacity by 50pc at the Sjunnen plant in Sweden.
The expansion is scheduled to be completed by the end of next year and will see the plant’s capacity jump from 42,000mt to 62,000mt annually.
Hydro aims to reduce its carbon emissions by 30pc by 2030 and the expansion will aid in achieving this goal by enabling the plant to produce more low-carbon alloys such as Hydro RESTORE and Hydro REDUXA.
The company has also extended its partnership with Equinor and Panasonic to facilitate the exploration of the possibility of creating a joint sustainable European battery business. The project is in its early stages and investments choices are yet to be made.
(€1:$1.81 USD)