Northvolt Stock

northvolt.comEnergy / Energy StorageFounded: 2016Funding to Date: $6.42B

Northvolt manufactures sustainable batteries with minimal carbon footprint in Europe. This company was founded by Paolo Cerruti and Peter Carlsson in 2016 and is headquartered in Stockholm, Sweden. Northvolt develops sustainable lithium-ion batteries in conjunction with R&D, industrialization, and recycling to support clean energy. They also provide electrification and renewable energy storage designed for electric vehicles.

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Northvolt investors also invested in these private companies

Volkswagen Group
Norrsken VC
Third Swedish National Pension Fund
Stena Metall
PCS Holding AG
InnoEnergy
Fourth Swedish National Pension Fund
IMAS Foundation

Team

Management Team

Paolo Cerruti
Co-Founder, Board Member & Chief Operating Officer
Yasuo Anno
Chief Development Officer
Landon Mossburg
Chief Digital Officer & President, Northvolt America
Alexander Hartman
Chief Finance Officer
Cecilia Lundin
Chief People Officer
Peter Carlsson
Co-Founder, Chief Executive Officer & Board Member

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News Highlights

Northvolt gains EU nod for $986 mln German aid to build EV battery plant
Swedish lithium-ion battery producer Northvolt on Monday secured EU approval for 902-million-euro ($986.43 million) in German state aid to build an electric vehicle battery production plant in the north of Germany. The European Commission said the plant would accelerate the 27-country bloc's green transition and reduce fuel dependencies, and that the German aid was necessary as without it, Northvolt would build the plant in the United States with support from the U.S. Inflation Reduction Act.
Northvolt breaks through: No-critical mineral, sodium-ion based battery ready for market
Northvolt, an electric vehicle (EV) battery manufacturing company that’s privately owned, has had a breakthrough in the race to build EV batteries that do not require critical materials. The company develops EV battery manufacturing processes for critical materials including lithium-ion. However, Northvolt CEO Peter Carlsson said the company has successfully created technology to produce sodium-ion batteries on a large scale. Developed alongside researcher Altris, the Northvolt sodium-ion batteries have added sustainability benefits by avoiding critical materials.
Germany Grants €700M for Northvolt Despite Budget Freeze
Despite being affected by a freeze on government spending in Germany, electric vehicle battery manufacturer Northvolt is on track to build the Nothvolt AB factory in the country. The privately owned company’s project was in flux due to actions taken by the country’s finance minister but is now moving forward because of an exemption. Sweden-based Northvolt is building the €4.5 billion factory in Heide, Germany, with plans to start manufacturing EV batteries there in 2026.
Updated on: Feb 25, 2024

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Public news articles listed on this page have been curated by Forge based on several factors including, but not limited to, product updates, changes in organization structure, funding rounds, third-party valuations, and key personnel changes. Changes to this list of articles can be made at any time without notice and should not be relied upon for investment purposes. Forge does not verify the accuracy of the information contained in public news articles.