{"id":468215,"date":"2024-01-17T11:28:10","date_gmt":"2024-01-17T10:28:10","guid":{"rendered":"https:\/\/innovationorigins.com\/?p=468215"},"modified":"2024-01-17T11:28:10","modified_gmt":"2024-01-17T10:28:10","slug":"northvolt-raises-5-billion-to-enable-expansion-of-first-circular-gigafactory-in-the-western-world","status":"publish","type":"post","link":"https:\/\/ioplus.nl\/archive\/en\/northvolt-raises-5-billion-to-enable-expansion-of-first-circular-gigafactory-in-the-western-world\/","title":{"rendered":"Northvolt raises $5 billion to enable expansion of first circular gigafactory in the western world"},"content":{"rendered":"\n

Northvolt announced the signing of a $5 billion non-recourse project financing to expand Northvolt Ett in northern Sweden, the company writes in a press release.<\/a> The deal represents the largest green loan raised in Europe to date.<\/p>\n\n\n\n

Why I need to know this: <\/h2>

Northvolt secured a $5 billion non-recourse project financing for the expansion of Northvolt Ett. This is the largest green loan raised in Europe to date. The financing will not only support the expansion of cathode production and cell manufacturing but also contribute to the development of a circular battery production setup, marking a milestone in sustainable business practices in the European energy transition. European investing company EIT InnoEnergy was one of Northvolt\u2019s initial funders.<\/p><\/div>\n\n\n\n

In addition to the expansion of Northvolt Ett\u2019s cathode production and cell manufacturing, the finance package will enable the expansion of the adjacent recycling plant, Revolt Ett, which is approaching the conclusion of its commissioning and is processing its first materials. The facility recovers battery-grade metals with a carbon footprint that is seventy percent lower than mined raw materials, thereby enabling a fully integrated, circular battery production setup that has not previously existed outside of Asia.<\/p>\n\n\n\n

Peter Carlsson, co-founder and CEO of Northvolt, commented: \u201cThis financing is a milestone for the European energy transition. It will enable us to realize the full potential of Northvolt Ett and demonstrates that circular, sustainable business practices are fundamental to success in today\u2019s industry.\u201d<\/p>\n\n\n\n

The world’s greenest battery <\/h2>\n\n\n\n

This is the first loan raised through Northvolt\u2019s Green Finance Framework, created in 2023. Reflecting the company\u2019s commitment to sustainability and the circular economy, Northvolt received the highest \u2018dark green\u2019 rating attainable for its framework from the external rating company CICERO \u2014\u202fthe first industrial actor in its sector to do so.<\/p>\n\n\n\n

Emma Nehrenheim, Chief Environmental Officer at Northvolt, commented: \u201cI\u2019m proud to see how our ambition to mass produce the world\u2019s greenest battery attracts top-tier financial partners, as global capital is looking to invest in electrification and climate change mitigation. It has become obvious that creating a new industry standard attracts world-leading talent and major financial institutions that aim to align their strategy with long-term macro trends.\u201d<\/p>\n\n\n\n

This financing package means that Northvolt has secured more than $13 billion in equity and debt to expand in Europe and North America. European investing company EIT InnoEnergy was one of Northvolt\u2019s initial funders.<\/p>\n\n\n\n

<\/p>\n\n\n

<\/a>
<\/div><\/div>
Northvolt develops state-of-the-art sodium-ion battery validated at 160 Wh\/kg<\/div>
Northvolt is adding a state-of-the-art sodium-ion battery to its portfolio. It was developed for the expansion of cost-efficient and sustainable energy storage systems worldwide. <\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"

Northvolt announced the signing of a $5 billion non-recourse project financing to expand Northvolt Ett in northern Sweden, the company writes in a press release. The deal represents the largest green loan raised in Europe to date. In addition to the expansion of Northvolt Ett\u2019s cathode production and cell manufacturing, the finance package will enable […]<\/p>\n","protected":false},"author":2589,"featured_media":505275,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[42],"tags":[58930,83128,80528],"location":[54353],"article_type":[36684],"serie":[],"archives":[],"internal_archives":[],"reboot-archive":[82815],"class_list":["post-468215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sustainability-nl","tag-battery-recycling","tag-gigafactory","tag-northvolt","location-sweden","article_type-news","reboot-archive-green"],"blocksy_meta":[],"acf":{"subtitle":"The largest green loan raised in Europe to date will not only facilitate the expansion of Europe's first homegrown gigafactory, but also the realization of Northvolt's plans for battery recycling.","text_display_homepage":false},"author_meta":{"display_name":"Team IO","author_link":"https:\/\/ioplus.nl\/archive\/author\/erikdevries\/"},"featured_img":"https:\/\/ioplus.nl\/archive\/wp-content\/uploads\/2024\/01\/Schermafbeelding-2024-01-17-111705.png","coauthors":[],"tax_additional":{"categories":{"linked":["Sustainability<\/a>"],"unlinked":["Sustainability<\/span>"]},"tags":{"linked":["battery recycling<\/a>","gigafactory<\/a>","Northvolt<\/a>"],"unlinked":["battery recycling<\/span>","gigafactory<\/span>","Northvolt<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 2 years ago","modified":"Updated 2 years ago"},"absolute_dates":{"created":"Posted on January 17, 2024","modified":"Updated on January 17, 2024"},"absolute_dates_time":{"created":"Posted on January 17, 2024 11:28 am","modified":"Updated on January 17, 2024 11:28 am"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/posts\/468215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/users\/2589"}],"replies":[{"embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/comments?post=468215"}],"version-history":[{"count":0,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/posts\/468215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/media\/505275"}],"wp:attachment":[{"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/media?parent=468215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/categories?post=468215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/tags?post=468215"},{"taxonomy":"location","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/location?post=468215"},{"taxonomy":"article_type","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/article_type?post=468215"},{"taxonomy":"serie","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/serie?post=468215"},{"taxonomy":"archives","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/archives?post=468215"},{"taxonomy":"internal_archives","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/internal_archives?post=468215"},{"taxonomy":"reboot-archive","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/reboot-archive?post=468215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}