European battery company Northvolt has filed for Chapter 11 ‘reorganisation’ bankruptcy in the US, which it said will allow it to restructure its debt to continue scaling the business.
Sweden-based BESS developer Ingrid Capacity will trade its BESS projects as they start to come online, CEO Axel Holmberg said, while also discussing the CEE market and fellow Swede Northvolt’s current challenges.
Sweden-headquartered lithium-ion technology Northvolt has concluded its strategic review, revealing it is divesting or ceasing non-core activities, sharpening its focus to battery cell manufacturing and reducing its workforce.
Would-be battery manufacturers that could serve the US energy storage industry with domestically made cells are facing a “perfect storm,” Energy-Storage.news has heard.
Executives from Northvolt discussed the gigafactory company’s ramp-up after a slow 2023 and how the company intends to be competitive in the global market, as well as cell technology, recycling, sourcing from China and an eventual IPO.
The EU is ‘stepping up its game on battery gigafactories’, European Commission executive VP Maroš Šefčovič said at the Giga Europe conference today (12 March).
This Friday briefing looks at the trend of long-duration energy storage (LDES) technology companies eyeing project development, the role Europe’s gigafactory projects play in the continent’s energy storage system (ESS) market, and the inherent challenges that come with vertical integration.
European lithium-ion battery developer and manufacturer Northvolt has secured a US$5 billion (€4.6 billion) non-recourse project financing package from various EU and Nordic institutions for its manufacturing and recycling plants.
Gigafactory company Northvolt and sodium-ion battery technology firm Altris have together revealed a battery with an energy density of 160Wh/kg, designed for energy storage systems.
Energy storage system (ESS) executives from Northvolt and Fluence discussed the battery and battery storage manufacturing ecosystem in Europe in separate interviews whilst at the Energy Storage Summit Central Eastern Europe (CEE) recently.
