Northvolt

Northvolt has today filed for Chapter 11 reorganization in the US in order to secure a sustainable platform to deliver on its long-term mission to establish a homegrown, Western industrial base for battery production. With the filing, the company gains access to approximately $245 million in new financing. Northvolt will maintain its operations throughout its period of reorganization and continue to make deliveries to customers, while fulfilling obligations to vendors and payment of wages to employees. Northvolt anticipates concluding its Chapter 11 process in the first quarter of 2025. Full press release → https://lnkd.in/diBVHfJ8

This week, Northvolt CEO Peter Carlsson visited Sweden’s Parliament to share Northvolt’s mission with members of parliament and leaders from business and politics. He highlighted the value and significance of establishing a domestic battery industry for Europe and emphasized the importance of embedding sustainability into this new sector, in ways as we see at Northvolt Ett — Europe’s first homegrown battery gigafactory, which today produces cells with 100% fossil-free power, alongside Europe's largest online battery recycling plant, Revolt Ett. The workshop, focused on reindustrialization in Northern Sweden, was hosted by MP Elisabeth Thand Ringqvist of the Center Party. Participants discussed Sweden’s opportunities to lead in sustainable practices and make a lasting impact in the green energy transition. While the challenges of the energy transition are numerous and significant, they are accompanied by immense opportunities — something Northvolt is reminded of every day as it progresses toward its mission. #Northvolt #SustainableEnergy #GreenTransition #BatteryIndustry #Europe

We're aware of reporting this morning in Swedish media about a "workplace accident at Northvolt's facility in Borlänge". This is not accurate, and we are engaging media outlets to correct reporting that suggests otherwise.    While we understand that there has been an incident, it did not occur on Northvolt premises, and did not involve any Northvolt employee. Our understanding is the incident occurred in an area nearby to Northvolt’s previously owned Kvarnsveden site in Borlänge (which was sold in September).

"Without a strong commitment from both business and politics – for innovation, entrepreneurship and strategic investments – we risk losing our global competitiveness and the basis for Europe's and Sweden's long-term prosperity," writes the Swedish industrialist, Chairman of Vargas Group, Co-Founder and Chairman of Stegra and Co-Founder of Northvolt, Harald Mix, in an opinion piece for the Swedish business daily, Dagens Industri. Read more ↓

Sometimes, the right thing to do is the hard thing to do. As part of on-going initiatives to support our employees impacted by redundancies here at Northvolt, this week we arranged a recruitment event at Northvolt Labs, Västerås, warmly supported by Västerås stad.   For the event, we repurposed the ground floor of our office space, and invited numerous companies and employers to attend, display opportunities and engage with our employees. We’re grateful to all those companies that participated and for their recognition of the tremendous talent and valuable experience that our employees hold.  In collaboration with Skellefteå kommun and Arbetsförmedlingen, we will be holding similar events in the coming weeks for our colleagues at Northvolt Ett in Skellefteå. These events, with the first on October 25, will be open for all to attend — Northvolt employees and individuals working for contractors and suppliers, and the general public alike.  A special thanks to MindDig, which has opened up its recruitment platform for free for all companies recruiting in Sweden, allowing us to share profiles with all interested companies After launching a recruitment platform earlier this week, we’d also like to send our thanks to all companies that have signed up and the messages of support we received. Through registering, we’ll ensure that opportunities of organizations on the platform are made known to our employees looking for new roles. Please find the form at → northvolt.com/peersupport

Northvolt has taken the difficult decision to reduce the scope of its operations in Sweden, and with this must part ways with a significant number of its employees. Since these decisions, we have been engaged with various partners and public bodies to arrange support for our employees, including through enabling the transition to new roles for those impacted by redundancy.   Today, we would like to highlight our appreciation to peers in Sweden’s industrial sectors, including our partners and large employers in Skellefteå and the surrounding region, with whom we have been in contact. Their recognition of the skills and talents of Northvolt employees, and expression of openness to receive applications is heartening and something we are deeply grateful for.   To enable further offers of support, we have launched a form for organizations interested in supporting Northvolt employees impacted by redundancy. Through signing up, we’ll ensure that opportunities at your organization are made known to our employees looking for new roles. Please find the form at → northvolt.com/peersupport

Dynell GmbH, a leading provider of airport ground support vehicles, decided to use Northvolt’s Voltpack Core battery system to power their electric fleet. “Dynell chose the Voltpack Core for its superior quality as a compact, high-capacity battery from a reputable European manufacturer. Its extensive testing and certification, combined with exceptional performance and reliable support from Northvolt, influenced our decision.” Read about the partnership here: https://lnkd.in/dGWYJg_s

Northvolt is today announcing a rescoping of its operations and resizing of its workforce in Sweden. With this, Northvolt adjusts its ambitions to focus on ramping up the first 16 GWh of production capacity at Northvolt Ett. Full press release → https://lnkd.in/d48Wjwcw

Here’s some footage of Northvolt Ett, Europe’s largest homegrown battery gigafactory in Skellefteå, Sweden, filmed this summer. Powered by 100% fossil-free energy, Northvolt Ett is at the forefront of large-scale battery manufacturing in Europe.

Northvolt is today announcing initial steps to be taken as part of its strategic review. In streamlining operations, Northvolt will initially focus on large-scale cell manufacturing whilst reducing costs and exploring future strategic partnerships for the purpose of securing its position in the global battery landscape. Full press release → https://lnkd.in/ddEB4eFw