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Northvolt raises $1.1 billion to support factory rollout plans in Europe

Northvolt raises $1.1 billion to support factory rollout plans in Europe


Northvolt today announced the signing of a $1.1 billion convertible note to finance its expansion of battery cell and cathode material production in Europe to support the rapidly expanding demand for batteries.

Investors participating in the capital raise were AMF, AP funds 1-4 (via the co-owned company 4 to 1 Investments), ATP, Ava Investors, Baillie Gifford, Compagnia di San Paolo th

Pioneering a sustainable battery industry to enable the future of energy.

Northvolt was established in 2016 in Stockholm, Sweden. Pioneering a sustainable model for battery manufacturing, the company has received over $50 billion in orders from key customers, including Scania, Volvo Cars and Volkswagen Group. The company is currently delivering batteries from its first gigafactory Northvolt Ett, in Skellefteå, Sweden and from its R&D and industrialization campus Northvolt Labs, in Västerås, Sweden, supported by over 6,000 employees in Sweden, Germany, Norway, Poland, Portugal, the US and Canada.

Northvolt

Alströmergatan 20
112 47 Stockholm
Sweden