NKT and Hydro have entered into a strategic partnership that will accelerate the shift towards low-carbon aluminium and increase its role in reducing the carbon footprint of power cables. The collaboration will aid both companies' journey towards net zero by aligning common decarbonization targets for both primary and recycled aluminium. For NKT, the partnership will support it in reaching the corporate target of reducing scope 3 emissions with 27.5% by 2030 compared to 2019.

- We are proud to form this strategic partnership with our long-term partner, Hydro. They have a proven track record of delivering low-carbon aluminium, and will help us satisfy the growing demand among Distribution System Operators and Transmission System Operators for solutions with a lower carbon footprint. Despite working in an energy intensive sector, Hydro is leading its industry towards more sustainable solutions with strong emphasis on decarbonization, as well as biodiversity and social responsibility. We look forward to our continued collaboration with Hydro in the coming years, said Will Hendrikx, COO and Deputy CEO at NKT.

The partnership is based on more than 50 years of collaboration which now forms the foundation for a strategic partnership to drive both company's sustainability strategies forward, together. The partners will also collaborate on minimizing emissions associated with warehousing, logistics and transportation, as well as opportunities for efficient closed-loop supply chains. Towards 2030, Hydro and NKT will collaborate on R&D and product development to explore aluminium wire rod applications that allow for even lower carbon footprint.

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NKT A/S published this content on 06 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 March 2024 07:04:03 UTC.