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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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Bank extends loan to LG Chem as it forges ahead with European lithium-ion gigafactory plans

Wed, 11/27/2019 - 15:57 -- Paul Crompton

The European Bank for Reconstruction and Development (EBRD) has extended a long-term loan of €250 million ($275 million) to support the construction of Korean battery maker LG Chem’s European lithium-ion gigafactory.

The company is set to build a battery production plant in Wrocław in western Poland in three phases.

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