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

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

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.
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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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Northvolt
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