As Northvolt assembles its first battery systems at Northvolt Dwa in Poland, the company today announced the raising of $1.2 billion to finance plans for its further European and North American expansion. As Northvolt assembles its first battery systems at Northvolt Dwa in Poland, the company today announced the raising of $1.2 billion to finance […]
Northvolt completes construction of Poland ESS factory – EQ Mag
Swedish battery manufacturer, Northvolt has completed the construction of Northvolt Dwa in Gdańsk, Poland — Europe’s largest factory for energy storage solutions. Sharing the video of the completed factory on social media, Northvolt confirmed that the production is scheduled to begin by the end of the year, which will coincide with the official opening of […]
Northvolt to transform closed paper mill in Sweden into new gigafactory – EQ Mag Pro
The gigafactory is expected to enter operations in late 2024, utilizing 100 percent clean energy to produce up to 100 GWh of cathode material to enable cell assembly at multiple Northvolt facilities. Northvolt and Stora Enso has today announced the signing of a letter of intent on a purchase of the Kvarnsveden Mill and the […]
Swedish Super Factory Debuted First Lithium-Ion Battery before the end of 2021 – EQ Mag Pro
Swedish battery manufacturer Northvolt announced on the 29th that it has assembled the first lithium-ion battery at the Ett super factory in Skelleftea, and has managed to meet the target of battery production before the end of 2021. Although lithium-ion batteries are mainly manufactured in Asia and the US, the company is hopeful that it […]
Corporate funding into battery storage has exceeded US$11 billion so far this year – EQ Mag Pro
Companies in the battery storage sector attracted US$11.4 billion in corporate funding in the first nine months of 2021, a 363% rise on the same period of last year. Similarly, venture capital (VC) funding into the sector increased considerably: US$5.5 billion was raised from 59 deals, compared to just US$1.2 billion in 21 deals over […]
Volvo, Northvolt Team Up For Electric Battery Factory
Europe has been ramping up efforts to become more autonomous in the battery sector, though it is still very dependent on production from Asia. Stockholm: Volvo and Sweden’s Northvolt have joined forces to build a new battery factory in Europe as the automaker aims to sell only fully electric cars by 2030, the companies said […]
Volkswagen invests $620 million in Northvolt to secure battery supply
The investment, part of a $2.75 billion funding round launched by the maker of lithium-ion batteries, will keep Volkswagen’s stake stable at around 20% and follows an initial 900 million euro investment in 2019. Volkswagen said on Wednesday it was investing a further $620 million in Swedish battery maker Northvolt, in a bid to secure […]
Northvolt acquires US battery technology company Cuberg
European supplier of sustainable, high-quality battery cells and systems, Northvolt, announced on March 10 the acquisition of US-based battery technology company Cuberg delivering high-performance lithium metal cells produced on existing lithium-ion manufacturing lines for electromobility solutions. According to Northvolt, Cuberg spun out of Stanford University in 2015 with the goal of commercializing next-generation battery technology […]
Europe Set to Race Past US in Battery Manufacturing
Europe’s battery manufacturing capacity is on the cusp of dramatic growth, though much of the investment and know-how are coming from Asian companies. A slew of recent announcements has left Europe poised to overtake North America in terms of battery manufacturing capacity by 2023, analyst figures show. Bloomberg New Energy Finance (BNEF) expects European nameplate […]
Volkswagen leads €886 million investment in Northvolt to power Europe with its gigafactory for lithium-ion batteries
The future will require sustainable batteries to store renewable energy, and lots of them. Stockholm-based Northvolt has taken the lead, and has just announced a capital raise of €886 million to build Europe’s first gigafactory for lithium-ion battery cells, Northvolt Ett, in Skellefteå, Sweden. This comes just a month after securing a €350 million loan […]
