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Funding For Battery Technology Companies Exploded In 2020

Article by Proteum Energy's Director of Environmental Health & Safety, Robert Rapier


Robert Rapier | Senior Contributor | Forbes

Last fall Swedish lithium-ion battery maker Northvolt announced that it had raised $600 million in equity to invest in capacity expansion, research and development, and large-scale recycling.


The capital raise included institutional investors Baillie Gifford, Baron Capital Group, Bridford Investments Limited, Norrsken VC & PCS Holding together with private investors Cristina Stenbeck and Daniel Ek. It was joined by current Northvolt shareholders Goldman Sachs GS -1.3%, IMAS Foundation, Scania, and Volkswagen AG.


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