The Swedish battery manufacturer, which filed for bankruptcy protection in November, asked more than 100 shareholders for the funds over a two-year period, according to Reuters. The Caisse de dépôt et placement du Quebec has invested about $200 million in the company. Caisse spokesperson Kate Monfette declined to comment. Investissement Québec, which invested $510 million, didn’t immediately respond to The Logic’s request for comment. (Reuters)
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The Swedish battery manufacturer, which filed for bankruptcy protection in November, asked more than 100 shareholders for the funds over a two-year period, according to Reuters. The Caisse de dépôt et placement du Quebec has invested about $200 million in the company. Caisse spokesperson Kate Monfette declined to comment. Investissement Québec, which invested $510 million, didn’t immediately respond to The Logic’s request for comment. (Reuters)
Talking point: Northvolt says the funds would sustain the company’s dwindling cash reserves until 2027—the same year it plans to begin producing battery cells at its Northvolt Six factory in Quebec. Other Northvolt shareholders include Goldman Sachs, BMW, Volkswagen and Scania. In September, Northvolt reaffirmed its commitment to large-scale battery-cell production at its $7-billion gigafactory near Montreal as it began its strategic review.
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