Northvolt, a Swedish battery developer and manufacturer, has raised $2.75 billion in latest round of investment.
The $2.75 billion raised in equity enables Northvolt’s expansion plan leading up to and beyond 150 GWh of deployed annual production capacity in Europe by 2030.
The latest funding is supported by existing shareholders including EIT InnoEnergy, and new shareholders Sweden’s AP 1-4 pension funds and Canada’s OMERS.
Northvolt has raised $6.5 billion, in both equity and debt, to date.
Peter Carlsson, co-founder and CEO of Northvolt said: “We have a solid base of world-class investors and customers on-board who share Northvolt’s mission of building the world’s greenest battery to enable the European transition to renewable energy.”