Swedish battery maker Northvolt raises $2.75 bln to expand plant

Swedish battery maker Northvolt has announced the signing of a $2.75 billion private placement to expand the capacity of its gigafactory in the country, Northvolt Ett, to 60GWh from 40GWh to meet increased customers’ demand, it said on Wednesday June 9.

The private placement was jointly led by Swedish pension funds AP1, AP2, AP3 and AP4, and Omers Capital Markets, alongside existing investors Goldman Sachs Asset Management and Volkswagen AG, according to a company statement. The expansion plan will lead gradually to more than 150GWh of deployed capacity within Europe by 2030. The company has already secured more than $27...


Dalila Ouerghi

June 09, 2021

19:50 GMT