A company embarking on one of the most ambitious renewable energy projects in the world

Computer generated image of triangular shaped battery made out of metal, glass and glowing element inside.
Image credit - © Northvolt

What does it do?

Northvolt sustainably produces lithium-ion batteries.

Why do we invest?

We are approaching an energy revolution, moving away from fossil fuels towards the electrification of all forms of transport. To facilitate this shift, we are 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.

Northvolt has attracted significant talent, capital, and customer support since its founding. It also has a favourable starting point versus its competitors - good systems technology underpinned by a team of top battery chemists, a cost advantage as its first plant is near the cheap hydropower of North Sweden, and important commitments from large European original equipment manufacturers (OEM).

The company has made history by making the first ever lithium-ion battery cell using 100 per cent recycled nickel, cobalt and manganese in 2020. They aspire 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 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.”


Founded in: 2015

Invested in: 2020


Headquartered: Sweden

Important information

The company showcased on this page is part of a diversified portfolio. The commentary should not be taken as advice on an individual stock.

Investment trusts are UK public companies and are not authorised and regulated by the Financial Conduct Authority. You may not get back the amount invested and please bear in mind that past performance is not a guide to future performance.