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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.

Related material

• Northvolt raises $1.6 billion in debt financing through consortium of global financial institutions
• BMW Group signs long-term supply agreement for battery cells with Northvolt
• Northvolt and Hydro launch joint venture to enable electric vehicle battery recycling

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.

Related material Show all 4

• BMW Group signs long-term supply agreement for battery cells with Northvolt
• Northvolt and Hydro launch joint venture to enable electric vehicle battery recycling
• Northvolt launches recycling program targeting 50 percent recycled material in new cells

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

Press releases   •   Jul 16, 2020 09:01 CEST

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.

Related material

• Northvolt raises $1.6 billion in debt financing through consortium of global financial institutions
• Northvolt raises $600 million in equity to invest in capacity expansion, R&D and giga-scale recycling

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

Related material

• Northvolt raises $1.6 billion in debt financing through consortium of global financial institutions
• Northvolt raises $600 million in equity to invest in capacity expansion, R&D and giga-scale recycling

News 1 hit

ABB and Northvolt partner for Europe’s largest battery factory

News   •   Sep 26, 2017 08:30 CEST

ABB and Northvolt have signed a Memorandum of Understanding (MOU) for a wide-ranging supply and technology partnership, including products and services for Northvolt’s state-of-the-art lithium-ion battery factory and close collaboration on development of battery solutions and R&D activities. ABB Technology Ventures (ATV) will support the initial phase of this project through an early investment.