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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

VW

companies

investment

battery

lithium-ion cells

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

Marubeni plans Li-batteries tie-up with Northvolt

Japan’s Marubeni Corporation has become the latest Asian player vying for a stake in Europe’s evolving battery cells business through a deal with Swedish lithium-ion firm Northvolt.

Marubeni and Northvolt have signed a memorandum of understanding to collaborate, in a move that could see the Japanese conglomerate supply LIB manufacturing equipment and raw materials.

lithium-ion batteries

materials

equipment

Northvolt in battery materials deal with Nemaska

Swedish lithium-ion battery maker Northvolt has signed an agreement in principle for the supply of battery grade lithium hydroxide supply from Canada’s Nemaska Lithium.

Northvolt said it will receive up to 5,000— but not less than 3,500 metric tonnes per year— of lithium hydroxide on a take-or-pay basis for a five-year supply period.

Northvolt

Nemaska Lithium

lithium hydroxide

lithium-ion batteries

Swedish cities to share Northvolt’s Li-on Giga operation

Swedish lithium-ion battery maker Northvolt AB is to partner with two of the countries’ cities to set up what it says will be “Europe’s largest and most cutting-edge lithium-ion battery manufacturing” operation.

Northvolt said the ‘Gigafactory business’ will be split between the cities of Skellefteå in the north— which will host the production factory— and the central Sweden city of Västerås— where key research and development operations will be located.