2023-08-26 19:32:00
Photography: Northvolt
Northvolt, the Swedish electric battery specialist, has just raised 1.1 billion euros. According to Archyde.com, more and more investors are betting on the electricity market. It is BlackRock, one of the world’s leading asset managers, which is behind this new fundraising.
New fundraising for Northvolt
The Swedish giant is a regular fundraiser. Last year, Northvolt had already succeeded in raising 1.1 billion euros in the form of bonds from banks and investment funds such as Goldman Sachs, Swedbank Robur and TM Capital. The Volkswagen group was also among the investors. It must be said that Northvolt needs cash to support its projects.
Recently, the Swedish company pledged to put 640 million euros on the table to build a battery factory in Germany. Objective: supply 1 million electric vehicles. The site will be located in Heide, near Hamburg, in the north of the country. This will be the company’s third plant and the first outside of Sweden. The others are in Skellefteå and Borlänge. The manufacturer of lithium-ion batteries for electric vehicles is gaining momentum.
The battery giant is gaining momentum
According to Alexander Hartman, directeur financier de Northvolt, « this new financing will make it possible to increase the surface area of Northvolt factories and to open new ones “. A project for the construction of a factory in Canada is currently under discussion. We are talking about several billion dollars. David Giordano, head of sustainability at BlackRock, believes that “ the battery manufacturing sector has interesting growth potential ».
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Since its inception, Northvolt has raised over $9 billion. Its objective is very clear: to become the largest battery manufacturer in Europe (and why not the largest in the world). The Swedish firm has a well-filled order book: around 50 billion euros. And visibility over several years. Major brands such as BMW, Fluence, Scania, Volvo and Volkswagen work with Northvolt and equip their electric vehicles with batteries from the Swedish giant.
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