Startup Funding: June 2021 semiengineering.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from semiengineering.com Daily Mail and Mail on Sunday newspapers.
Northvolt announced the signing of a new, and biggest so far private placement of $2.75 billion in equity, to finance further battery cell production capacity.
Sweden s battery maker Northvolt raises $2 75 billion, expands factory to 60GWh tech.eu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tech.eu Daily Mail and Mail on Sunday newspapers.
Swedish company Northvolt raises $2.75B to accelerate European battery production
Swedish battery developer and manufacturer Northvolt AB has raised $2.75 billion in capital as it prepares to ramp up to an annual production capacity of 150 GWh in Europe by 2030.
The funding round Northvolt’s largest thus far was co-led by existing investors Goldman Sachs and Volkswagen, and new investors including the Swedish pension funds AP1-4 and OMERS, one of Canada’s largest pension plans. AMF, ATP, Baillie Gifford, Baron Capital Group, Bridford Investments Limited, Compagnia di San Paolo through Fondaco Growth, Cristina Stenbeck, Daniel Ek, IMAS Foundation, EIT InnoEnergy, Norrsken VC, PCS Holding, Scania and Stena Metall Finans also participated in the raise.