Northvolt is a premium supplier of sustainable, high-quality battery cells and systems.
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 offers high-performance lithium-ion cells based around proprietary Lingonberry NMC chemistry available in cylindrical and prismatic formats. It's pioneering a new approach to battery manufacturing rooted in a commitment to fossil-free energy, sustainable sourcing of raw materials and recycling.
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, IMCO, BlackRock, CPP Investments, ATP, Baron Capital Group, PCS Holding, Scania, BNP Paribas, Ava Investors, Fondaco Growth, Folksam Group, and others. The company raised $1.2B in a new financing on Aug 22, 2023. This brings Northvolt's total funding to $8.75B to date. Northbolt was valued at $12B in a financing raised in Jul 2022.