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Hydro sets up technology venture

Norsk Hydro set up a fund, Norsk Hydro Technology Venture, which will invest in energy sector research and development projects implemented outside of the company's own operations. Hydro has allocated $29.2 million for this type of investment over the next four years. The fund will inject capital into companies developing projects that are of importance for Hydro that impact the company's energy operations. Types of technologies to be given close consideration include oil exploration and recovery, electricity production with low CO2 emission levels, fuel cells, hydrogen as an energy carrier and technologies aimed at renewable energy production.