As Northvolt assembles its first batteries at Northvolt Dwa in Poland, the Swedish company announced today that it has raised US$1.2 billion (equivalent to approx. 1.1 billion euros) to fund its plans for further expansion in Europe and North America, where new gigafactories are opening (or giga factories) of battery production will soon be built.

“I am proud that our continued efforts are being recognized by investors as we receive significant interest from the capital markets to support our mission. Commitment to global decarbonisation is strong and these steps strengthen our position to meet the huge demand for sustainable battery solutions in Europe and North America.”said Peter Karlsson, co-founder and CEO of Northvolt.

Northvolt raises €1.1 billion

This new fundraise follows the July 2022 fundraise, which raised at least $1.1 billion (ie the equivalent of approx. 1 billion euros) were provided by dark green funds, the most virtuous of socially responsible investing (SRI) funds.

Among the various investors in this new funding round we find Goldman Sachs Asset Management, AP Funds 1-4 (via 4 to 1 Investments), Folksam Group, ATP, AMF, Ava Investors, IMAS Foundation, Baillie Gifford. , Swedbank Robur, PCS Holding, Olympia Group, TM Capital, Compagnia di San Paolo through Fondaco Growth, East Innovate, ADQ, GIC, Chow Tai Fook Enterprises (CTFE), J. Safra Sarasin… But also the German manufacturer Volkswagen Group.

A factory for the production of electric batteries in Poland

At the same time, Northvolt Dwa assembled its first batteries for electric vehicles in Gdansk, Poland. new plant with an area of ​​25,000 m² which assembles cells into battery systems for consumers in the energy storage and industry markets, supported by the European Innovation Fund. Among the various clients of the Swedish company, we find BMW, Fluence, Scania, Volvo Cars, as well as the Volkswagen Group.

Northvolt battery cells are currently designed and developed at the company’s laboratories in Västerås, Sweden, as well as at Northvolt Cuberg in San Leandro, California, USA. Battery production is also ramping up at the Northvolt Ett gigafactory in Schellefteo, Sweden, which will soon be complemented by the nearby Revolt Ett large-scale recycling plant. There are other projects of new industrial sites is developed in Sweden, Germany and Portugal.

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