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Battery Alliance

Northvolt clinches gigafactory EU loan deal

Fri, 05/17/2019 - 10:45 -- John Shepherd
Northvolt clinches gigafactory EU loan deal

The European Investment Bank (EIB) has confirmed its approval in principle of a €350 million (US$391m) loan for Swedish battery maker Northvolt to build a 16GWh capacity lithium-ion battery cell plant— as revealed by BEST Battery Briefing last week.

EIB vice-president Andrew McDowell (pictured) said the loan is the largest ever direct financing approved by the bank for battery technology. The financing will be through the EIB-managed European Fund for Strategic Investments.

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Northvolt set for €400m Swedish gigafactory loan

Fri, 05/10/2019 - 17:10 -- John Shepherd
Northvolt set for €400m Swedish gigafactory loan

The European Investment Bank (EIB) is set to approve a €400 million (US$450m) loan to help start-up Northvolt build a 16GWh capacity lithium-ion battery cell manufacturing plant in Sweden.

The loan to design, build and start operations at the gigafactory, which Northvolt estimates will cost a total of around €1.5 billion, is likely to get the green light when the EIB board meets on 15 May.

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EU to launch battery raw materials investment fund

Fri, 05/03/2019 - 13:38 -- John Shepherd
Maros Sefcovic

Two of Europe’s leading institutional banks are set to back the launch of a raw materials investment facility to support future batteries production in the EU.

The European Investment Bank and the European Bank for Reconstruction and Development (EBRD) will underpin the facility which could be launched by the end of this year, EU energy chief and European Commission vice-president Maros Sefcovic has revealed.

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