Hydro and the Belgian company Umicore have decided to put the research and development activities in the joint venture HyCore on hold.
HyCore, headquartered in Porsgrunn in Norway, has been working to develop a new technology for solar-grade silicon for use in solar cells.
The research and development activities are being put on hold as a result of the large uncertainty related to further development of the technology. In addition the solar energy market is oversupplied with solar-grade silicon.
HyCore’s board of directors will now evaluate the further management of the company.