Northvolt Ett, Northvolt’s first Gigafactory, opens its production line and the first batteries roll off it.
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Data sheet
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Summary sheet
Release date
19 September 2018
Status
Reference
Under appraisal | 15/06/2018
20170359
Project name
Promoter - financial intermediary
NORTHVOLT ETT -LARGE SCALE BATTERY PLANT
NORTHVOLT AB
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 400 million
EUR 1522 million
Description
Objectives
The project concerns the promoter's investments in Skellefteå, Sweden, for the design, construction, commissioning and operation of a lithium-ion (Li-ion) battery cell manufacturing facility with a capacity of 16 GWh. The project is structured into two components, each consisting of a block with a manufacturing capacity of 8GWh. The advanced Li-ion cells to be manufactured at the plant will be used in batteries for transport, stationary storage and industrial and consumer applications.
The objective of the project is to offer Europe the prospect of a cost-competitive Li-ion battery cells supply basis, enhancing independence from suppliers outside of the region. It aims to produce the greenest competitively priced li-ion battery cells produced in Europe. The project will seek to be competitive through the use of low-cost renewable electricity, a vertically integrated production process, and potentially locally sourced materials. Sweden is a beneficial location for the Project, for amongst other reasons, very low electricity costs from abundant renewable hydro resources and high-skilled human resources to produce high-quality products.
Environmental aspects
Procurement
The project concerns capital investments for the production of lithium-ion electrodes, cells and batteries, falling under the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU. All environmental, health and safety issues including environmental and operational authorisations will be reviewed during the due diligence process.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation Directive 2014/25/EU or 2004/17/EC, where applicable, then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
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Summary sheet
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Data sheet
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).
Documents
Environmental and Social Impact Assessment (ESIA) - NORTHVOLT ETT -LARGE SCALE BATTERY PLANT - MKB Anläggning för tillverkning av litiumjonbatterier
Publication Date
3 May 2019
Document language
Main Topic
Lending
Document Number
92789944
Document Focus
Environmental Information
Document Type
Project Number
20170359
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Data Sheet (ESDS) - NORTHVOLT ETT -LARGE SCALE BATTERY PLANT
Publication Date
22 May 2019
Document language
Main Topic
Lending
Document Number
86782734
Document Focus
Environmental Information
Document Type
Project Number
20170359
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - NORTHVOLT ETT -LARGE SCALE BATTERY PLANT - MKB Utökad anläggning för storskaligproduktion av litiumjonbatterier
Publication Date
28 Mar 2020
Document language
Main Topic
Lending
Document Number
129384451
Document Focus
Environmental Information
Document Type
Project Number
20170359
Sector(s)
Regions
Countries
Publicly available
Download now
scoreboard - NORTHVOLT ETT - LARGE SCALE BATTERY PLANT
Publication Date
17 Jun 2019
Document Language
English
Main Topic
lending
Document Number
94184406
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20170359
Last update
25 Jun 2019
Sector(s)
Industry
Countries
Sweden
Publicly available
Download now
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News & Stories
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Inside the project
How and Why
Decarbonised transport, the energy transition and European competitiveness
Why
- High-performance batteries are vital for the electric car revolution and the green transition
- Northvolt’s recyclable batteries have a carbon footprint 80% smaller than its competitors
- European leadership in a strategically competitive technology
How
- Innovation financing with EU backing for a demonstration line to prove commercial viability
- Financing for Europe’s first homegrown gigafactory
- Funding to scale-up production
Decarbonised transport, the energy transition and European competitiveness
Why
- High-performance batteries are vital for the electric car revolution and the green transition
- Northvolt’s recyclable batteries have a carbon footprint 80% smaller than its competitors
- European leadership in a strategically competitive technology
How
- Innovation financing with EU backing for a demonstration line to prove commercial viability
- Financing for Europe’s first homegrown gigafactory
- Funding to scale-up production
Sectors & Countries
PLAY VIDEO
0:49
Story
Europe’s first homegrown gigafactory
Europe’s first homegrown gigafactory
A challenge as vast and complex as climate change requires big, bold and brilliant ideas. But such ideas, by their very nature, often involve risks that few private investors have the vision, confidence or capacity to underwrite, especially when they come from start-ups.
The project is important because simply replacing all internal combustion engine vehicles with electric ones would not lower transport sector emissions enough to meet our 2050 goals—the emissions associated with battery production typically account for almost half the emissions of electric vehicle manufacture. These new batteries have a much lower carbon footprint than existing batteries. They are a perfect example of the kind of big, bold and brilliant idea that the world and European industry need.
But private sector investors balked at the idea of lending to a new company, rich in vision but poor in firm customer orders.
The European Investment Bank stepped in with a series of loans backed by the EU’s InnovFin innovation-support facility and the Investment Plan for Europe. We alone financed the company’s demo plant. Soon after, customers began to place orders and then private sector banks and long-term investors came flocking.
Listen to our podcast on transport innovations to fight climate change:
Renewable energy storage is the key to a carbon-neutral society, and batteries are the key to getting there. I’m trying to show Europe that carbon-free energy can be better stored and distributed with higher quality and lower costs and made more sustainable and truly available. I want to inspire change and flick a switch for Europe.
A highway to sustainable batteries
Back in 2018, when the EIB agreed its first loan with Swedish battery producer Northvolt, not many people outside tech circles had heard their name. Now, after proving that their concept of a lithium-ion battery worked, and following deals with the likes of Scania, BMW and Volkswagen, the company has announced the assembly of their first lithium-ion battery cell at their gigafactory in Northern Swedish Skellefteå.
Listen to our podcast on the future of driving:
Related media
A highway to sustainable batteries
Swedish battery producer Northvolt has announced the assembly of their first lithium-ion battery cell at their gigafactory in Northern Swedish Skellefteå.
Car battery tech charges ahead
With its demonstration concept a success, Sweden’s Northvolt aims to increase capacity to make electric car battery technology and move into a carbon-neutral future
When the winds don’t blow
Two innovative Swedish battery companies aim to supply clean energy in the home and for your car
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