Northvolt

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

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.

The European Investment Bank (EIB)

Northvolt

europe

Lithium-ion

battery

gigafactory.

Hydro and Northvolt launch joint venture to enable EV battery recycling in Norway

Norwegian firm Hydro and Swedish company Northvolt have established a 50/50 joint venture to enable recycling of battery materials and aluminum from used electric vehicle battery packs.

Through Hydro Volt AS, the companies plan to build a battery recycling plant in Fredrikstad, Norway, with production expected to start next year.

Gigafactory firm Northvolt to deploy lithium-ion ESS to charge electric vehicles

Swedish firms Northvolt and Mälarenergi have partnered to deploy a 220kW/320kWh lithium-ion energy storage system to power an electric vehicle charging station in their home country.

Gigafactory developer Northvolt will deliver the lithium-ion battery system based around its Voltrack modular battery system in Västerås, Sweden.

energy storage system

electric vehicle charging

Northvolt’s $1bn battery boost as VW partnership unveiled

Battery manufacturing start-up Northvolt has raised US$1 billion for its planned Swedish gigafactory project— and has revealed it will build a second such facility in Germany in partnership with Volkswagen.

Northvolt said the equity capital raise for the lithium-ion battery cells plant at Skellefteå had been led by VW and Goldman Sachs Merchant Banking Division, alongside BMW, AMF, Folksam Group and IMAS Foundation.

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.

Northvolt

European Investment Bank

Battery Alliance

European Fund for Strategic Investments

Maroš Šefčovič

eu

Andrew McDowell

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.

European Investment Bank

lithium-ion batteries

Maos Sefcovic

Battery Alliance

VW and Northvolt in driving seat for new battery research group

Volkswagen has formed a European batteries research consortium with Swedish lithium-ion start-up Northvolt.

The German carmaker said the newly-formed European Battery Union (EBU) would work with research and industry partners in seven European Union member states to cover “the entire battery value stream – from raw materials through cell technology to recycling”.

European Battery Union

bmw

umicore

battery cells

Northvolt plans Poland battery plant to target European market

Swedish lithium-ion start-up Northvolt has announced plans for a new battery production facility in Gdansk, Poland.

The facility will produce full battery systems— containing battery cells, an electronic control system, and often a cooling and heating system— using cells manufactured at Northvolt’s factory in Sweden, where production is scheduled to start toward the end of 2020.

Northvolt said the new plant, which will include an R&D centre, would be operated in partnership with California-based precision semiconductor manufacturer South Bay Solutions.

BMW, Northvolt and Umicore join forces for cells recycling

The BMW Group has formed a joint technology consortium with Swedish lithium-ion start-up Northvolt and Belgium-based materials tech giant Umicore, to develop a “complete and sustainable value chain for battery cells for EVs in Europe”.

This announcement comes just weeks after BMW placed a “billion euro” order for EV batteries from China, saying that they “can’t wait” for Europe to build a battery cells industry.

The consortium’s main aim is to establish a closed life cycle loop for batteries to make battery cells sustainable. The partners said this would be achieved by creating a recyclable cell design and manufacturing process that uses mostly renewable energy.

Siemens to partner with Northvolt for ‘Green LIB’ supplies

Siemens is to partner Swedish lithium-ion start-up Northvolt in developing “next generation Green lithium-ion batteries”.

Siemens is investing EUR10 million ($11.6m) in the partnership— through which it will become the latest international firm to work with Northvolt— whose planned lithium-ion battery manufacturing facility is being financed by the European Investment Bank.

Northvolt

siemens

lithium-ion batteries

Sweden

digital systems technology

Peter Carlsson

Jan Mrosik