NORTHVOLT

Investors are pouring capital into the battery business, and lithium-ion producers like Northvolt are reaping the benefits with over $9 billion raised since 2017. Zeekr IPO will take Geely Holdings's EV maker valuation to $13 billion. Accure, Channel19, Electric Era, NaaS and Nickelytics have closed deals worth millions. Battery tech, EV makers and startups are popular investments.

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 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.

Swedish power storage professional Northvolt AB has actually finalised the building of a gigafactory for battery energy storage systems in Gdansk, Poland, promoted as the largest manufacturing center of its kind in Europe.

The decision is required to support the rapidly expanding need for batteries. Northvolt is establishing making capacity to meet $55 billion worth orders from crucial clients, such as BMW, Fluence, Scania, Volvo Cars, as well as Volkswagen Group.

Noting a brand-new phase in European industrial background, the cell is the very first to have been completely designed, established and also put together at a gigafactory by an organic European battery company, claimed Northvolt. Commissioning and upscaling of the factory will certainly proceed with right into 2022, when the very first industrial customer shipments will certainly be made.

Portuguese utility Galp Energia and also Swedish battery manufacturer Northvolt stated Tuesday that they were joining forces to integrate in Portugal one of Europe's very first lithium conversion plants at a price of 700 million euros ($790 million).

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A $200m manufacturing facility is be created in Gdańsk

In a little over ten years, Northvolt aims to pour 150 GWh of batteries onto the European market, each year. The firm is also functioning to resource end-of-life batteries for half its raw materials.

The sustainable lithium-ion battery producer wishes to secure raw materials to reuse right into its items and also will certainly tap among the globe's most innovative electrical lorry markets for its end-of-life batteries.

The Swedish storage space system maker claimed its Voltpack Mobile System can be made use of in various market sectors, especially for weak or remote grids. The battery has a scalable storage space capability varying from 245 kWh to 1,225 kWh. Swedish utility Vattenfall is currently examining the system's abilities.

Europe’s battery manufacturing capacity is on the cusp of dramatic growth, though much of the investment and know-how are coming from Asian companies.