Northvolt, Europe’s leading battery manufacturer, has obtained the largest green loan in European history, amounting to €5 billion. This financial milestone will support the expansion of its inaugural gigafactory, Northvolt Ett, and the construction of an adjacent recycling facility, Revolt Ett, in Sweden. Despite facing production delays and reporting significant losses, Northvolt has attracted considerable investor interest, with orders worth $55bn. The company has raised over $13bn to date and is considering a future stock market listing. The green loan, backed by 23 banks and European financial institutions, underscores Northvolt’s commitment to sustainable and circular business practices, earning a “dark green” environmental rating from Cicero.
Europe’s leading battery maker raises the region’s largest green loan cementing its position as its best funded start-up
Source: Northvolt confirms $5bn debt financing round