Sustainable Power: Northvolt Secures $400m
- Northvolt has secured a $400M investment from IMCO to expand their battery production capacity, with a focus on clean energy manufacturing, regional sourcing, and closed-loop circularity through recycling. This investment supports meaningful capital deployment for the energy transition and managing ESG risks.
Northvolt, the European integrated battery platform, has secured a $400m investment from the Investment Management Corporation of Ontario (IMCO). The funds will enable Northvolt's planned global expansion, aligned with IMCO and the company’s commitment to a deeply sustainable battery supply chain. Northvolt's first gigafactory has already begun producing batteries with fossil-free electricity, and future gigafactory additions will support the goal of delivering 150GWh of annual production capacity by 2030. The company intends to offer low carbon footprint batteries and is focused on clean energy manufacturing, regional sourcing and closed-loop circularity via recycling. IMCO’s Chief Investment Officer, Rossitsa Stoyanova, believes the investment is “paving the way for meaningful capital deployment towards the energy transition” and is “strategically managing material ESG risks”.
What Will Northvolt Do With $400M?
What Will Northvolt Do With $400M?
- Expand into global markets to deploy its low carbon footprint batteries
- Achieve its ultimate goal of providing 150GWh of annual production capacity by 2030
- Continue to promote sustainable battery supply chains
- Invest in clean energy manufacturing
- Commit to regional sourcing and closed-loop circularity
- Establish itself as the industry leader in sustainable batteries
- Partner with IMCO to help fund the energy transition
- Collaborate with IMCO’s Fundamental Equities team to maximize shareholder value
