Northvolt announced the signing of a $2.75-billion private placement to finance further battery cell production capacity and R&D efforts in order to meet the increasing demand of customers engaged in the transition to decarbonized, electric solutions. The private placement was co-led by new investors AP funds 1-4, via the co-owned company, 4 to 1 Investments, and OMERS, one of Canada’s largest defined benefit pension plans, alongside existing investors Goldman Sachs Asset Management and Volkswagen Group. Also participating in the equity raise are current owners AMF, ATP, Baillie Gifford, Baron Capital Group, Bridford Investments Limited, Compagnia di San Paolo through Fondaco Growth, Cristina Stenbeck, Daniel Ek, IMAS Foundation, EIT InnoEnergy, Norrsken VC, PCS Holding, Scania and Stena Metall Finans. Including the private placement, Northvolt has now raised more than $6.5 billion in equity and debt to enable an expansion plan leading up to and beyond 150 GWh of deployed annual […]