Hydro’s aluminium recycling plant in Henderson, Kentucky has received a USD 17.4 million award to advance new technology for the automotive industry.
The U.S. Department of Energy awarded the tax credit under the Inflation Reduction Act. This follows a competitive process involving over 800 different potential projects around the U.S.
“We appreciate the support from the Department of Energy and the Department of the Treasury as well as their recognition of how Hydro’s recycling initiatives in the U.S. support strengthening supply chains for OEMs in America with domestically produced, low-carbon materials,” says J. Duncan Pitchford, President of Hydro Aluminum Metals USA.
The investment will go into the HyForge project which brings new technology to the U.S., serving a growing automotive market.
The HyForge project will become operational following a two year construction period and supply the U.S. automotive market with high-quality automotive components. The Hydro Henderson’s plant’s current production capacity is 90,000 tonnes per year and the expansion will increase capacity by 28,000 tonnes.