Northvolt is a electrification and renewable energy technology company that plans to build a factory for the manufacture of lithium-ion batteries for electric cars and for energy storage.

Northvolt is on a mission to establish a supply of sustainable batteries in Europe and enable the future of energy.

Northvolt was founded in 2016 by Peter Carlsson, Paolo Cerruti, Harald Mix, and Carl-Erik Lagercrantz. The company is based in Stockholm, Sweden.


Northvolt made the first commercial deliveries of its battery cell in the spring of 2022. The battery cells were produced at the Northvolt Ett gigafactory in Skellefteå, Sweden.


Northvolt maintains a large-scale recycling program to enable 50% of its raw material requirements to be sourced from recycled batteries by 2030. The company promotes in-house competencies throughout the battery value chain, including cathode material production and recycling.


Northvolt has a customer base whiche include global automotive conglomerates like BMW, Fluence, Scania, Volvo Cars, and Volkswagen Group. The company’s key projects include ramping up and expanding the Northvolt Ett Gigafactory, while it targets the establishment of the Northvolt Volvo Cars joint venture gigafactory in Gothenburg, Sweden. 


Northvolt is backed by Goldman Sachs, VW, EIB, AP funds 1-4, Baillie Gifford, AMF, ATP, Baron Capital Group, PCS Holding, Scania, BNP Paribas, Ava Investors, Fondaco Growth, Folksam Group, and others. The company raised $1.1B in Convertible Note financing on Jul 05, 2022. This brings Northvolt's total funding to $7.55B to date. The latest round valued the company at a $12B post-money.



  • Year founded: 2016
  • Funding Info: $7.55B over 9 Rounds (Latest Funding Type: Convertible Note)
  • Yearly Revenue: NA
  • Employee Size: 1,001-5,000
  • Business Valuation: Valued at $12B as of July 05, 2022
  • City/Town: Stockholm
  • State: Stockholm
  • Country: Sweden
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