Northvolt Raises $1.2 Billion in Funding

Northvolt is a producer of lithium-ion batteries. By harnessing wind and hydropower, Northvolt not only reduces its carbon footprint but also sets a benchmark for other manufacturers to follow suit. The company collaborates with renowned Swedish universities and research institutes to drive innovation and develop state-of-the-art battery technologies.  

Northvolt has raised around $1.2 billion from BlackRock, Investment Management Corporation of Ontario, and Canada Pension Plan Investment Board as well as Canadian pension-plan provider Omers. The fresh funding will be used to build new factories in North America and Europe.   

Northvolt, Stockholm, Stockholms Lan, Sweden was founded in 2016 by Paolo Cerruti and Peter Carlsson. “We are receiving significant interest from capital markets to support our mission,” said Northvolt Co-Founder and Chief Executive Peter Carlsson. “The commitment to global decarbonization is strong, and these milestones reinforces our position to meet the massive demand for sustainable battery solutions both in Europe and North America.”

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