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    Reference: 20170637
    Release date: 15 November 2017

    Promoter – Financial Intermediary

    NORTHVOLT AB

    Location

    Description

    The project consists of the construction and operation in Vasteras, Sweden, of an innovative first-of-its-kind demonstration plant for the manufacturing of advanced Lithium-ion cells for battery applications in transport, stationary storage and industrial and consumer applications.

    Objectives

    The demonstration project aims at the creation of a sustainable, cost-competitive innovative cell and battery production industry in Europe and contributes to the security of supply in critical components (batteries) to the EU industry.

    Comments

    Proposed EIB finance amount: EUR 52.5 million

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 52 million

    Total cost (Approximate amount)

    EUR 105 million

    Environmental aspects

    The project will help create the conditions enabling the deployment of electro-mobility, facilitating the transformation of the automotive industry and, at same time, supporting the development of a more efficient and sustainable transport system in Europe. The project will therefore support EU climate action policy.

    Procurement

    The promoter has been assessed by the EIB as a private company not subject to EU rules on public procurement or concessions.

    Status

    Signed - 27/04/2018

    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).

    Related tags

    Sweden Industry