Northvolt's battery project locked in with EUR 52 million loan

The European Investment Bank has approved an application from Northvolt for a loan facility of up to EUR 52.5 million.

It recently emerged that financing was lacking for Northvolt's demonstration plant, but the European Investment Bank (EIB) has now come to the rescue. The Swedish battery firm has been granted approval to loan upwards of EUR 52.5 million for its factory in Västerås.

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