Recent work | June 10, 2021

Roschier represented Volkswagen in Northvolt’s USD 2.75 billion equity financing round

Swedish battery manufacturer Northvolt has raised USD 2.75 billion in their latest equity financing round. Existing shareholders Volkswagen AG and Goldman Sachs Asset Management led the financing round alongside new and existing investors, including the Swedish pension funds AP1, AP2, AP3, AP4 and OMERS Capital Markets. Roschier represented Volkswagen.

The proceeds from the capital raise will, among other things, enable Northvolt to expand the annual capacity of its Northvolt Ett gigafactory in Skellefteå, Northern Sweden, from 40 to 60 GWh to meet increased customer demand and to finance Northvolt’s recycling and R&D efforts.

Roschier’s advisory team comprised Markus Olsson, Harem Mahir, Axel Bonning, Andrew Laderman, Jakob Salenstedt and Alvaro Castro.