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Northvolt secures $600m as it races toward securing 25% share of European lithium-ion market

Thu, 10/01/2020 - 08:48 -- Paul Crompton

European gigafactory developer Northvolt has secured $600 million in private placement to invest in expanding its production and recycling capacity as well as R&D activities.

Led by Baillie Gifford, Goldman Sachs Merchant Banking Division and Volkswagen AG, the funding boost will help the Swedish company establish 150GWh of manufacturing capacity in Europe by 2030.

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