Investors participating in the capital raise were AMF, AP funds 1-4 (via the co-owned company 4 to 1 Investments), ATP, Ava Investors, Baillie Gifford, Compagnia di San Paolo through Fondaco Growth, Folksam Group, Goldman Sachs Asset Management, IMAS Foundation, Olympia Group, OMERS Capital Markets, PCS Holding, Swedbank Robur, TM Capital and Volkswagen Group.

With this capital raise, Northvolt has since 2017 secured close to $8 billion in equity and debt to deliver on its plans to establish a supply of sustainable batteries to enable the decarbonization of society.

Presently, the company is developing manufacturing capacity to deliver on $55 billion in orders from key customers, including BMW, Fluence, Scania, Volvo Cars, and Volkswagen Group.

The investment enables us to continue our quest to develop the world's greenest battery cell

“We are proud and thankful for the support from these world-class investors and partners. It enables us to continue our quest to develop the world’s greenest battery cell and establish a European supply of batteries,” says Carl-Erik Lagercrantz, Chairman of Northvolt.