Northvolt
A company embarking on one of the most ambitious renewable energy projects in the world.
Northvolt produces lithium-ion batteries in a sustainable way for use in electric vehicles.
Why do we own it?
We are increasingly approaching an energy revolution, moving away from fossil fuels and towards the electrification of all forms of transport. To facilitate this shift, we’re going to need batteries and lots of them. This is where Northvolt comes in. Its mission? To produce the world’s greenest batteries by drawing on renewable energy sources and utilising recycled raw materials.
The company has already made history by making the first ever lithium-ion battery cell using 100 per cent recycled nickel, cobalt and manganese in 2020. It aspires to build a circular model, with over half of their upstream materials to be recycled from their previous batteries by 2030.
Who is key?
Peter Carlsson, CEO and co-founder, launched Northvolt in early 2017, having stepped away from being the Vice President of supply chain at Tesla at the end of 2015. Within that time, he “looked at Europe with [his] Tesla binoculars” and realised the transformation to the transport sector required in Europe. He said, “The more we discussed this with automotive and energy utility companies, politicians and other stakeholders, the more we realised this was too important not to try.”
First bought
in September 2020.
Eco-friendly batteries manufactured with minimal carbon footprint.
The company showcased on this page is part of a diversified portfolio. The commentary should not be taken as advice on an individual stock.
Image Credit - © Northvolt
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