Northvolt raises money 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 through Fondaco Growth, Folksam Group, Goldman Sachs Asset Management, IMAS Foundation, Olympia Group, OMERS Capital Markets, PCS Holding, Swedbank Robur, TM Capital and Volkswagen Group. Peter Carlsson, Co-Founder and CEO of Northvolt, commented: “We are proud and thankful for the support and trust from these world-class investors and partners. We will continue to work hard to... ... More: Official Press Release Northvolt

Keywords:

Northvolt, battery, expansion, battery cell, cathode material production, Europe