Norsk Hydro

Norsk Hydro ASA (often referred to as just Hydro) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. It is one of the largest aluminium companies worldwide. It has operations in some 50 countries around the world and is active on all continents. The Norwegian state owns 34.3% of the company through the Ministry of Trade, Industry and Fisheries. A further 6.5% is owned by Folketrygdfond, which administers the Government Pension Fund of Norway. Norsk Hydro employs approximately 35,000 people. Hilde Merete Aasheim has been the CEO since May, 2019. Hydro had a significant presence in the oil and gas industry until October 2007, when these operations were merged with Statoil to form StatoilHydro (in 2009 changed back to Statoil, which is now called Equinor). History First steps with fertiliser Financed by the Swedish Wallenberg family and French banks, the company was founded on December 2, 1905 as Norsk hydro-elektrisk (lit. Norwegian hydro-electric nitrogen limited) by Sam Eyde, exploiting a novel technology for producing artificial fertilizers by fixing nitrogen from air. The technology had been developed by the Norwegian scientist Kristian Birkeland. The method is still known as the Birkeland–Eyde process. The process required large amounts of electric energy, and for this, a power plant was built at the Svelgfossen waterfall near Notodden. Later also Rjukan Falls was developed and its power harnessed, in the process establishing the city of Rjukan, establishing the plant Norsk Hydro Rjukan.