Di's sources within the capital market revealed details (in Swedish) of the upcoming capital injection.
Northvolt's director of communications in the Nordics, Matti Kataj, confirmed the ongoing share issue via email to Di, stating, "We are in an expansion phase and require capital. We've seen strong investor interest in being part of this growth."
He added that Northvolt typically announces details of financing rounds upon completion.
The funds will be used for the continued expansion of several factories, including collaborations with Volvo Cars in Gothenburg, Sweden, and facilities in Heide, Germany, and Montreal, Canada.
Northvolt Ett, the company's main production facility in Skellefteå, is on track for full capacity by 2025.
– Phase one of Northvolt Ett, involving the first 16 GWh of production, is scheduled to be fully operational next year, said Sanna Bäckström, Northvolt's communications officer.
– Once fully expanded, the facility will boast a production capacity of 60 GWh.
Regarding reported delays in the expansion, Bäckström clarified:
– There are various ongoing construction phases at the site. All projects will be completed, but we continuously assess the building sequence to optimize efficiency.
Northvolt is also nearing the launch of its battery recycling facility, Revolt.
– We're aiming for production at Revolt to begin in 2024, Bäckström said.
– Test runs of the facility have already commenced.