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Northvolt secures almost $2billion to continue goal of building Europe’s first ‘home-grown’ lithium-ion gigafactory

Fri, 08/14/2020 - 10:44 -- Paul Crompton

The European Investment Bank (EIB) has signed a $350 million loan agreement to support Northvolt’s hopes of Europe’s first home-grown lithium-ion battery gigafactory.

The funding follows the EIB supporting the demonstration line at Northvolt Labs in 2018, which produced its first battery cells in late 2019.

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