Northvolt has now raised over US$3 billion to support its plans to become a major player in the European battery manufacturing space, including US$1.6 billion in debt financing which it announced today.
Battery energy storage systems (BESS) from provider NIDEC ASI will be installed for customers Neoen and Uniper at sites in Finland and Sweden.
A 5MW / 20MWh energy storage system built around the batteries BMW uses in its i3 electric vehicles (EVs) will help integrate renewable energy into the electric grid in Uppsala, Sweden.
Vattenfall will build an industrial lithium battery energy storage project in Sweden - at a plant which recycles lead acid batteries.
Northvolt, the startup which recently netted a US$1 billion equity raise for its initial lithium battery ‘gigafactory’ in Sweden, has said that its ambitions extend deep into the energy storage solutions space, in addition to its involvement with major carmakers.
Europe approves US$3.5bn for R&D in major push to create sustainable battery manufacturing ecosystem
European Commission greenlights €3.2bn research plan by seven major states to turn continent into global battery hub even as it signals it is ready to block imports on environmental grounds.
Northvolt, the start-up aiming to manufacture lithium-ion batteries on a massive scale in Europe sustainably, has signed a contract to deliver its own first commercial energy storage system (ESS) project and revealed news on a second planned 'gigafactory' in Germany.
Finland-headquartered clean energy solutions provider Fortum is to deploy the largest battery so far in the Nordic region, a 6.2MWh system at a hydropower plant in Sweden.
The European Investment Bank (EIB) has approved a loan request from Northvolt that will see the bank provide a financing facility of up to US$64.8 million to support Northvolt’s pilot demonstration facility.
Northvolt, the Swedish battery start-up founded by former Tesla executives, has closed in on two possible sites for its planned multi-gigawatt production facility.
Swedish start-up Northvolt, which is run by two former Tesla Motors executives, plans to build a huge lithium-ion battery factory in the Nordic region, giving Tesla and Panasonic's Nevada Gigafactory a close rival within Europe in terms of size.