Northvolt secures record $5 Billion green loan for Gigafactory expansion and circular battery production in Europe 

Northvolt secures a record $5 billion green loan, the largest in Europe, facilitating the expansion of its gigafactory in Sweden, including a battery recycling plant with a 70% lower carbon footprint. The financing, backed by long-term contracts with partners like BMW and Volkswagen, marks a milestone for Europe’s energy transition, emphasizing circular, sustainable practices. The deal, involving 23 banks, the European Investment Bank, and the Nordic Investment Bank, is the first through Northvolt’s Green Finance Framework, receiving a top ‘dark green’ rating from CICERO.