Northvolt raises $600 million in equity to invest in capacity expansion, R&D and giga-scale recycling

Press releases   •   Sep 29, 2020 09:30 CEST

Northvolt today announced the signing of a $600 million private placement, led by Baillie Gifford, Goldman Sachs Merchant Banking Division and Volkswagen Group, enabling the company to make further investments in expanding its production and recycling capacity as well as R&D activities to support the target of establishing 150 GWh of manufacturing capacity in Europe by 2030.

Northvolt raises $1.6 billion in debt financing through consortium of global financial institutions

Press releases   •   Jul 29, 2020 10:30 CEST

Northvolt today announced the signing of a $1.6 billion debt raise provided by a consortium of commercial banks, pension funds and public financial institutions, increasing the total amount of capital raised to date for development of factories and R&D investments to over $3 billion.

BMW Group signs long-term supply agreement for battery cells with Northvolt

Press releases   •   Jul 16, 2020 09:01 CEST

Stockholm/Munich – In pursuit of expanding its offering of electromobility solutions, the BMW Group has signed a long-term supply contract worth 2 billion euros for battery cells with Northvolt. The battery cells will be produced from 2024 at Northvolt Ett gigafactory, currently under construction in Skellefteå, northern Sweden.

Northvolt’s embrace of sustainable technologies in cell production and recycling represents a central motivation for the BMW Group’s decision. Activities at Northvolt Ett, including cell production and complete cell recycling, will be powered entirely by renewable energy.

Oliver Zipse, Chairman of the Board of Management of BMW AG, said: “To make an effective contribution to climate protection, we aim to improve our products’ overall environmental balance – from resources to recycling. This applies in particular to energy-intensive production of high-voltage batteries for electric vehicles. That is why we now have a contractual agreement with our cell manufacturers that they will only use green power to produce our fifth-generation battery cells.”

Andreas Wendt, member of the Board of Management of BMW AG responsible for Purchasing and Supplier Network, added: “Signing this contract is another step towards meeting our growing need for battery cells in the long term. We are systematically driving electrification of our vehicle fleet. By 2023, we aim to have 25 electrified models on the roads – more than half of them fully-electric.”

Faced with rapidly growing demand for battery cells, recycling of battery components at the end of their lifecycle and extensive reuse of raw materials will be key to closing the materials loop in the best way possible. With in-house recycling capacities, Northvolt is targeting 50 percent recycled material in new cells by 2030.

The signing of the cell supply agreement is a major milestone in the BMW Group–Northvolt partnership, which dates back to mid-2018 when the two companies entered into a cooperation to develop battery cells. The partnership was underpinned by the BMW Group's financial participation in Northvolt.

Northvolt is a European supplier of sustainable, high-quality battery cells and systems. Founded to enable the European transition to a decarbonized future, the company has made swift progress on its mission to deliver the world’s greenest lithium-ion battery with a minimal CO2 footprint. Among Northvolt industrial partners and customers are ABB, BMW Group, Scania, Siemens, Vattenfall, Vestas and the Volkswagen Group. For more information visit northvolt.com.

In pursuit of expanding its offering of electromobility solutions, the BMW Group has signed a long-term supply contract worth 2 billion euros for battery cells with Northvolt. The battery cells will be produced from 2024 at Northvolt Ett gigafactory, currently under construction in Skellefteå, northern Sweden.

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Northvolt and Hydro launch joint venture to enable electric vehicle battery recycling

Press releases   •   Jun 01, 2020 08:07 CEST

• Hydro and Northvolt establish a joint venture, Hydro Volt, to harness recycling synergies between battery and aluminum industries • Hydro Volt aims to leverage the advanced Norwegian market for electric vehicles to secure sustainable feed of battery materials • Joint recycling hub to start operations in Norway in 2021

Northvolt launches recycling program targeting 50 percent recycled material in new cells

Press releases   •   Dec 13, 2019 08:31 CET

- Northvolt’s recycling program – Revolt – will establish its first pilot recycling plant in Västerås, Sweden, in 2020 - A full-scale recycling plant at Northvolt Ett gigafactory in northern Sweden will be established by 2022 - As recycling capacity ramps up, Northvolt is targeting 50% recycled material in new cells by 2030

Northvolt completes equity capital raise to enable Europe’s first homegrown gigafactories for lithium-ion batteries

Press releases   •   Jun 12, 2019 13:15 CEST

Northvolt today announced the agreement of a $1 billion equity capital raise to enable the establishment of Europe’s first homegrown gigafactory for lithium-ion battery cells, Northvolt Ett, in Skellefteå, Sweden. In cooperation with the Volkswagen Group, the company also announced plans to establish a second gigafactory with an intended location in Lower Saxony, Germany.

Northvolt to establish state-of-the-art production facility for battery systems

Press releases   •   Oct 22, 2018 11:30 CEST

In order to meet the increased demand for complete battery solutions on the European market, Northvolt today announced it is establishing a new facility to industrialize and produce battery modules.

Northvolt secures environmental permit for Europe's largest battery factory

Press releases   •   Jun 07, 2018 11:15 CEST

Northvolt today received the environmental permit for the establishment of Europe’s largest lithium-ion battery cell factory. Ground preparations on the factory site, which marks the initial step of the construction phase, will now begin on June 8.

Siemens and Northvolt partner in next generation lithium-ion battery cell production

News   •   May 25, 2018 12:00 CEST

Siemens and Northvolt today announced a partnership for the development of best-in-class technology to produce high-quality, green lithium-ion batteries. The partnership, which will be supported by Siemens through an investment of EUR 10 million, also includes the supply of lithium-ion batteries.

Skellefteå Kraft and Northvolt in strategic partnership to develop sustainable energy solutions

News   •   May 23, 2018 09:33 CEST

Skellefteå Kraft has partnered with Northvolt to develop sustainable solutions for energy storage and district heating.

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About Northvolt

Enabling the Future of Energy

Northvolt was founded in 2016 with the mission to build the world’s greenest battery, with a minimal carbon footprint and the highest ambitions for recycling, to enable the European transition to renewable energy. Northvolt’s team of experts is building the next generation battery factory focused on process innovation, scale and vertical integration. Once completed, it will be Europe’s largest battery factory and produce 32 GWh worth of battery capacity annually.

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  • Gamla Brogatan 26
  • 111 20 Stockholm
  • Sweden