Northvolt raises USD 600 million in equity financing

Northvolt has secured USD 600 million in equity financing. The investment proceeds will primarily be used to accelerate the development of Northvolt’s production facility in Skellefteå, scale up Northvolt’s recycling business and support research and development activities. Both existing shareholders and new investors participated in the financing round.Northvolt is a European supplier of sustainable, high-quality battery cells and systems. Founded in 2016 to enable the European transition to a decarbonized future, Northvolt has made swift progress on its mission to deliver the world’s greenest lithium-ion battery with a minimal CO2 footprint.

Northvolt was advised by Mannheimer Swartling in the transaction.

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