Northvolt

German government supporting the financing of battery cell factory in Sweden

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Germany’s Federal Ministry of Economics (BMWi) reported yesterday that it will support the financing of Northvolt’s battery cell factory in Sweden with a state guarantee of $525 million. As stated in BMWi press release, German automotive companies are significantly involved in the project. Volkswagen and the BMW Group have indeed entered into a strategic cooperation […]

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BMW and Northvolt sign a supply contract worth 2 billion euros

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The long-term supply agreement signed between BMW and Northvolt is a manifest of the true spirit of the European Battery Alliance. It includes several key elements aligned with the core values of the alliance: Sustainability in focus with a minimal ecological footprint using clean power and recyclability from design to end-of-life. Cooperation between an established

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EIT InnoEnergy invests €5.8m into Northvolt’s “mission critical” battery recycling plant

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Northvolt to commercialise new lithium ion recovery methods to support 2030 recycling targets InnoEnergy,  with the support of the EIT and the European Union, has announced its €5.8 million investment into Northvolt’s “Revolt” programme. The programme, which will implement the latest discoveries in efficient materials recovery methods, will see the construction of a pilot battery

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

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The establishment of a complete domestic battery value chain in Europe is well on its way. Volkswagen Group and Goldman Sachs Merchant Banking lead a $1 billion equity capital raise in Northvolt alongside BMW Group, AMF, Folksam Group and IMAS Foundation. Combining this with the debt financing already set to be provided to the Swedish

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Northvolt could secure a 350M euro loan from the European Investment Bank

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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

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