European energy investor steps in to support Northvolt: "We’re helping the party – significantly"
17 Oct 2024
14:15
Struggling Swedish battery giant Northvolt is getting a fresh cash injection from major European energy investor EIT InnoEnergy. Its CEO Diego Pavía confirmed the move to Impact Loop at the company’s recent energy conference in Barcelona.
"Investors have to be there both in good and bad times", he says.
"Investors have to be there both in good and bad times", he says.
Northvolt, Sweden’s troubled battery company, is currently in discussions with various financiers to close the critical funding round needed to keep operations going.
According to multiple reports in international media, the firm has secured SEK 1.7 billion (approx. $150 million USD).