The European Investment Bank (EIB) announces in-principle loan agreement to the Swedish start-up Northvolt.
Founded in 2016, Northvolt is expected to receive a loan of 350 million euro – EIB’s largest ever direct financing of battery technology. This financing will support the construction of its large-scale lithium-ion battery cells manufacturing plant in Skellefteå, Sweden. A significant milestone towards building a competitive, sustainable and innovative battery value chain, with battery cells manufactured at scale in Europe.
Read EIB’s press release.