Northvolt Raises $1.2bn for Expansion

• Northvolt, a leading European battery manufacturer, has secured over $9bn in equity and debt to fund its European and North American expansion. Investor include Investment Management Corporation of Ontario, BlackRock, Canada Pension Plan Investment Board, OMERS, Goldman Sachs Asset Management, AP Funds 1-4, Folksam Group, ATP and Volkswagen Group.

Northvolt has raised $1.2bn in a convertible note extension to fund its European and North American expansion. The note was signed by Investment Management Corporation of Ontario, BlackRock, Canada Pension Plan Investment Board, OMERS, Goldman Sachs Asset Management, AP Funds 1-4, Folksam Group, ATP and Volkswagen Group. In addition to the capital raise, Northvolt has begun producing energy storage systems at its Northvolt Dwa factory in Poland. Northvolt has also secured over $9bn in equity and debt to deliver on over $55bn in orders from key customers. The company has cell design and manufacturing operations in Sweden, Germany, Portugal and the US.

Which Investors Are Funding Northvolt's Expansion?

• Investment Management Corporation of Ontario
• BlackRock
• Canada Pension Plan Investment Board
• OMERS
• Goldman Sachs Asset Management
• AP Funds 1-4
• Folksam Group
• ATP
• Volkswagen Group