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Northern Lights


The operation will be a participation in the financing of the Northvolt battery plant expansion. The purpose of the investment is to increase the manufacturing capacity of the plant from the initial 16GWh to 60GWh with the addition of three new blocks, which altogether involve one upstream facility, three downstream facilities, three formation and aging facilities, and other supporting facilities. The scope of the investment will also include the construction of a new 4GWh battery recycling facility, Revolt Ett ("RV1"). The investment in RV1 will further reduce the dependence on raw material supply chains, enable cost savings, and unlock CO2 footprint reduction. The planned mechanical and IP-protected hydro-mechanical processes are estimated to lead to up to 95% recovery of Lithium, Nickel, Cobalt and Manganese.

InvestEU operation amount EUR 41.3 million
Sector Manufacture of batteries and accumulators and Materials recovery.
Policy window Sustainable Infrastructure (SIW)
Approval by the Investment Committee 15 September 2023

Links and documents

12 FEBRUARY 2024
Conclusions - Northern Lights

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Policy window
  • Sustainable Infrastructure (SIW)
Eligible areas
  • Mobility
  • Environment
Implementing partner
  • NIB