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Energy Storage
Northvolt raises $600 million to make batteries
by Alex Scott
October 3, 2020
| A version of this story appeared in
Volume 98, Issue 38
Northvolt, a Swedish start-up that wants to become the world’s greenest lithium-ion battery producer, has raised $600 million from investors that include the vehicle makers Scania and Volkswagen. The money will support Northvolt’s plan to open a major battery plant in Skellefteå, Sweden, in 2021 and another in Salzgitter, Germany, in 2024. Their combined capacity will meet a quarter of European demand, Northvolt says. The firm will use some of the money to double the size of its R&D labs and establish a major battery recycling facility.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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