Published by Todd Bush on November 27, 2024
Hydro Advances 2030 Strategy to Accelerate the Green Transition
Hydro is driving forward its 2030 strategy, focusing on growth in aluminium recycling, extrusions, renewable power generation, and sustainability initiatives. These themes will take center stage at Hydro’s Capital Markets Day 2024.
Hydro’s 2030 strategy, launched a year ago, emphasizes aluminium recycling, extrusions, and renewable energy as pillars for the green transition. Hydro will execute on its decarbonization roadmap, contributing to a sustainable future while creating market opportunities for low-carbon aluminium products.
“Our 2030 strategy sharpens our focus on strategic capital allocation and pushes profitable growth while delivering strong returns to shareholders,” said Eivind Kallevik, President and CEO of Hydro.
>> In Other News: Cleantech Startup HyperHeat Raises €3.5 Million for Solution to Decarbonize Industrial Heat
To strengthen its 2030 strategy and address market challenges in the battery and green hydrogen sectors, Hydro will phase out its Battery and Havrand businesses. While no further capital will be allocated, Hydro will continue testing green hydrogen technology at its Høyanger recycling unit for internal decarbonization.
Hydro’s recycling expertise positions it to meet growing demand for low-carbon products. The company expects to reach 700 kt of post-consumer scrap capacity by the end of 2024, advancing toward its 2030 targets of 850–1,200 kt.
The green aluminium transition depends on affordable renewable energy. Hydro Energy is expanding its renewable portfolio with projects like a 650 MW capacity expansion in Røldal-Suldal and a 48 MW Pumped Storage plant in Sogn. Hydro Rein, in partnership with Macquarie, is on track to have 1.7 GW of projects operational by year-end, with 8.4 GW in development.
Hydro is advancing its net-zero roadmap by 2050. In 2024, Hydro expects to complete a fuel switch to natural gas at Alunorte, reducing CO2 emissions by 434,000 tonnes annually. The HalZero pilot for CO2-free aluminium production is on track for 2030.
Hydro’s efforts extend to biodiversity initiatives and partnerships with organizations like Mercedes-Benz on projects combining social, nature, and climate benefits.
Hydro’s NOK 6.5 billion improvement program targets operational, procurement, and commercial excellence to drive resilience and profitability. Digital transformation efforts like predictive maintenance and production optimization further enhance these initiatives.
Hydro remains committed to sustainable growth and delivering strong shareholder returns, supported by consistent capital allocation and strategic investments.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 📉 EPA Releases Proposal to End the Burdensome, Costly Greenhouse Gas Reporting Program, Saving up to $2.4 Billion 📊 California to Extend Cap-and-trade Program Aimed at Advancing ...
Inside this Issue ✈️ CORSIA Transforms Aviation Compliance Into Market Gold Rush 📉 IEA Cuts 2030 Low-emissions Hydrogen Production Outlook by Nearly a Quarter 🎤 GenH2 Executive Chairman Josh McMor...
Inside This Issue 🌍 Global Hydrogen Industry Surpasses USD 110 Billion In Committed Investment As 500+ Projects Worldwide Reach Maturity ♻️ Cielo Advances Waste-to-Fuel Innovation with Project Nex...
AlliedOffsets And Sylvera Launch Quality-Weighted Carbon Price Index
AlliedOffsets, a global database and carbon market intelligence provider, and Sylvera, a leading carbon data platform, today announced the release of their groundbreaking Quality-Weighted Carbon Pr...
IEA Lowers Green Hydrogen Production Forecast For 2030 By 25%
The agency forecasts 37 million tons instead of the previously expected 49 million tons due to a number of negative factors The International Energy Agency (IEA) has lowered its forecast for low-c...
Clean Energy Breaks Ground On Three Renewable Natural Gas Dairy Projects With Maas Energy Works
Newport Beach, Calif. – September 16, 2025 – Clean Energy Fuels Corp. (NASDAQ: CLNE) has announced it has broken ground on three renewable natural gas (RNG) production facilities under its developm...
U.S. Engineered And Manufactured Electrolyzers To Have Lowest Global Total Installed Cost September 16, 2025 08:00 ET | Source: Electric Hydrogen HOUSTON, Sept. 16, 2025 (GLOBE NEWSWIRE) -- HIF G...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.