Announced
Financials
Sources
Tags
battery production
battery cells
Electrical Components
Sweden
Acquisition
Cross Border
Minority
Private Equity
Venture Capital
Friendly
Pending
Single Bidder
Private
Synopsis
Investment Management Corporation of Ontario, an investment company, BlackRock, a private equity firm, Canada Pension Plan Investment Board, an investment company, and OMERS, a public pension fund, to invest $1.2bn in Northvolt, a battery developer and manufacturer. “We have found a committed group of investors that understands both the urgent need and massive financial potential in enabling the swift electrification of society. However, there is a long road ahead if Europe and North America are to reach their full potential as leaders of the energy transition. To create a pathway for global warming below 1.5°C, both the private and public sector need to mobilize resources at an unprecedented scale,” Alexander Hartman, Northvolt CFO.
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