Brussels, 4 June 2024
The European Commission has approved, under the EU Merger Regulation, the creation of the joint venture Hydro Volt AS by Hydro Energi Invest AS (‘Hydro’), both of Norway, and Northvolt Revolt AB (‘Northvolt’) of Sweden.
The transaction relates primarily to the recycling of electric vehicle batteries.
The Commission concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11472.