Swedish business Northvolt raises $2.75 B to accelerate European battery production
Swedish battery developer and maker Northvolt AB has raised $2.75 billion in capital as it prepares to ramp up to an annual production capability of 150 GWh in Europe by 2030. The funding round — — Northvolt’s largest so far — — was co-led by existing investors Goldman Sachs and Volkswagen, and brand-new financiers including the Swedish […] The two offers bring Northvolt’s overall agreements to $27 billion. Northvolt is one of Europe’s largest battery manufacturers. The Swedish company aims to identify itself from other battery producers by producing batteries utilizing sustainable energy for the production process. Northvolt states its batteries have an 80% lower carbon footprint than those made with coal power. …
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