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Making oil history through large-scale production of green batteries

POWERED BY THE FORCES OF NATURE

Northvolt has committed to power its factories with clean energy. This, combined with circularity within production and battery recycling, make up the blueprint for the world’s greenest battery.

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SCALING UP OURSELVES TO SCALE UP MORE GAME CHANGERS

Vargas’ portfolio companies have invested approximately $8.4 billion in equity and debt to accelerate decarbonisation. Now, it is time to scale up ourselves to scale up more game changers. We will continue to push boundaries in the areas that matter the most, targeting highly emitting and hard-to-abate industries. And where the technological prerequisites and business cases exist, we will seize the opportunity and act. We aim to realise one ambitious company every year until 2025.

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northvolt timeline

On a journey to enable the future of energy by developing the world’s greenest battery cell and establishing a European supply of batteries.

2015-2016

Northvolt is validated

The business case for green lithium-ion battery cells is validated by Vargas, Peter Carlsson and Paolo Cerruti

2017

Northvolt is launched

With a bold and simple plan: to enable the future of energy by developing the world’s greenest battery cell and establish a European supply of batteries

2018

Northvolt and Scania in partnership for heavy vehicle electrification

Northvolt begins production of its first gigafactory, Northvolth Ett, in Skellefteå, Sweden

Northvolt and Volkswagen form European Battery Union

2019

2020

Partnering with BMW Group

Northvolt signs long-term supply agreement for lithium-ion battery cells with BMW Group

Northvolt announces its second gigafactory, Northvolt Dwa, in Gdańsk, Poland

New R&D campus

Northvolt invests $750 million in a R&D campus that covers the entire battery ecosystem

First battery cell assembled at Nortvolt Ett

2021

Northvolt announces its third gigafactory, Northvolt Drei, in Germany’s clean energy valley

Partnership with Volvo Cars

Northvolt announces its fourth gigafactory. The 3,000-job battery plant in Gothenburg, Sweden, will be established in partnership with Volvo Cars.

Announcing Northvolt Fem

Northvolt to transform closed paper mill Kvarnsveden in Borlänge Sweden, into a new gigafactory

Northvolt and Galp select Setúbal to build advanced lithium conversion unit

Northvolt raises $1.1B to support factor rollout plans

2022

Northvolt and Scania unveil green battery

Produced with fossil-free electricity, the cell’s carbon footprint is one-third that of a comparative industry reference

Revealing development program for aviation battery systems with Cuberg

Raises $1.2 billion convertible note

As first battery systems are produced at Northvolt Dwa

Northvolt announces $5.2 billion gigafactory in Quebec, Canada - its first outside of Europe

Sodium-ion breakthrough together with Altris

That enables global expansion of Northvolt’s energy storage systems

2023

Northvolt files for Chapter 11 reorganisation in the US

To support and enhance homegrown battery production platform

2024

2025

Northvolt files for bancruptcy in Sweden

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