Roschier represented Volkswagen in Northvolt’s USD 1 billion capital raise
The financing round was led by Volkswagen, as lead strategic investor, and the merchant banking division of Goldman Sachs, as lead financial investor, alongside BMW, AMF, Folksam and the IMAS Foundation, among others.
The proceeds from the USD 1 billion capital raise will be used by Northvolt to enable the establishment of Europe’s first homegrown gigafactory for lithium-ion battery cells, Northvolt Ett, in Skellefteå, Sweden. Furthermore, a joint venture between the Volkswagen Group and Northvolt will be set up to establish a 16 GWh battery cell gigafactory in Germany.
Completion of the transaction is subject to customary antitrust approval.
Northvolt is a European supplier of sustainable, high-quality battery cells and systems. Founded in 2016 to enable the European transition to a decarbonized future, the company has made swift progress on its mission to deliver the world’s greenest lithium-ion battery with a minimal CO2 footprint and the highest ambitions for recycling. Among Northvolt’s industrial partners and customers are ABB, BMW Group, Scania, Siemens, Vattenfall, Vestas and the Volkswagen Group.