European gigafactory company Northvolt has signed a US$1.1 billion convertible note to finance the expansion of its lithium-ion battery production, ahead of a potential IPO in the next two years.

Some anticipated lithium-ion battery gigafactory projects in Europe are quietly revising their plans and may not open at all, according to the head of energy storage for research and consulting company Delta-EE.

Construction has begun on the first of four battery energy storage systems (BESS) totalling 200MW/200MWh from global system integrator Fluence in Lithuania.

Energy storage solutions company Leclanché claims an addition to its lithium-ion battery can reduce the risk of a thermal event by close to 80%, two months after a fire occurred in its battery production facility.

Matthew Lumsden, CEO Connected Energy, talks us through scaling up the business in preparation for an EV boom from 2025 onwards.

Greece-based battery manufacturer Sunlight Group has received €275 million (US$290 million) in loan financing to expand production and research.

Mitsubishi Power is entering the European energy storage market with four BESS projects totalling 371MWh for ION Renewables in Ireland.

Matrix Renewables, the platform backed by private equity firm TPG, has secured tax equity financing of US$92 million for two solar-plus-storage projects in California with 80MWh of energy storage.

Lithium-ion battery pack manufacturer Dragonfly Energy expects revenues to increase 47% this year, during which it will complete a Nasdaq listing through a SPAC merger, before doubling in 2023.

Construction has begun on a solar-plus-storage project on the Caribbean island of St. Kitts & Nevis, backed by Leclanché, Solrid and MPC Energy Solutions.