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Released March 08, 2022 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Leading European electric vehicle (EV) battery company Northvolt (Stockholm, Sweden) continues its rapid expansion with news that it will transform a closed paper mill in Sweden into a new gigafactory.
The company has announced the signing of a letter of intent with Stora Enso to buy the recently closed Kvarnsveden Mill and the surrounding industrial area in Borlänge, Sweden. The mill was operational for 120 years. The news comes just weeks after the company moved ahead with carmaker Volvo Cars (Gothenburg, Sweden) to build an EV battery plant in Torslanda, Gothenburg, already home to Volvo's largest car manufacturing plant. The new plant will be up and running by 2025, creating up to 3,000 jobs. For additional information, see February 15, 2022, article--Volvo Green Lights EV Battery Plant with Northvolt.
Northvolt said it will develop the site into a manufacturing plant for active material and battery cells, reusing and refurbishing much of the existing facilities and site infrastructure. The gigafactory is expected to start the first part of its operations in late 2024 and will employ up to 1,000 people, utilising 100% clean energy from the region. When fully operational, the site will have a potential annual production capacity of more than 100-gigawatt hours (GWh) of cathode material, which will enable cell assembly at multiple Northvolt facilities. The site will also feature cell production.
"Since Northvolt's founding, we have focused on circular battery production, but this is the first time we will reuse an entire production site," explained Peter Carlsson, co-founder and chief executive officer of Northvolt. "With its access to energy, industrial water and the broad production know-how in the region, Kvarnsveden is an optimal site for a gigafactory."
Per Lyrvall, Sweden country manager at Stora Enso, added: "Sustainability is the main priority for Stora Enso and has to be addressed also in difficult times. Hence, a key focus since our decision to close the site has been to find a new owner that, to the benefit of the local society, can continue Stora Enso's long and sustainable-driven legacy at Kvarnsveden. Like Stora Enso, Northvolt delivers modern and innovative solutions that contribute to a climate-friendly future. Through this agreement, Kvarnsveden will become a foundation for continued growth, both for Northvolt and the city of Borlänge."
Northvolt said it has more than US$50 billion in orders from key customers, including BMW, Fluence, Scania, Volkswagen, Volvo Cars and Polestar. The company is also working on plant projects in Norway, Poland, Germany and Portugal. "There is a massive global demand for sustainable, high-quality lithium-ion battery cells and systems. With the blueprint developed at Northvolt Labs and Northvolt Ett, we will now put in another gear to scale up production even faster and larger than before," said Carlsson.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on LinkedIn.
The company has announced the signing of a letter of intent with Stora Enso to buy the recently closed Kvarnsveden Mill and the surrounding industrial area in Borlänge, Sweden. The mill was operational for 120 years. The news comes just weeks after the company moved ahead with carmaker Volvo Cars (Gothenburg, Sweden) to build an EV battery plant in Torslanda, Gothenburg, already home to Volvo's largest car manufacturing plant. The new plant will be up and running by 2025, creating up to 3,000 jobs. For additional information, see February 15, 2022, article--Volvo Green Lights EV Battery Plant with Northvolt.
Northvolt said it will develop the site into a manufacturing plant for active material and battery cells, reusing and refurbishing much of the existing facilities and site infrastructure. The gigafactory is expected to start the first part of its operations in late 2024 and will employ up to 1,000 people, utilising 100% clean energy from the region. When fully operational, the site will have a potential annual production capacity of more than 100-gigawatt hours (GWh) of cathode material, which will enable cell assembly at multiple Northvolt facilities. The site will also feature cell production.
"Since Northvolt's founding, we have focused on circular battery production, but this is the first time we will reuse an entire production site," explained Peter Carlsson, co-founder and chief executive officer of Northvolt. "With its access to energy, industrial water and the broad production know-how in the region, Kvarnsveden is an optimal site for a gigafactory."
Per Lyrvall, Sweden country manager at Stora Enso, added: "Sustainability is the main priority for Stora Enso and has to be addressed also in difficult times. Hence, a key focus since our decision to close the site has been to find a new owner that, to the benefit of the local society, can continue Stora Enso's long and sustainable-driven legacy at Kvarnsveden. Like Stora Enso, Northvolt delivers modern and innovative solutions that contribute to a climate-friendly future. Through this agreement, Kvarnsveden will become a foundation for continued growth, both for Northvolt and the city of Borlänge."
Northvolt said it has more than US$50 billion in orders from key customers, including BMW, Fluence, Scania, Volkswagen, Volvo Cars and Polestar. The company is also working on plant projects in Norway, Poland, Germany and Portugal. "There is a massive global demand for sustainable, high-quality lithium-ion battery cells and systems. With the blueprint developed at Northvolt Labs and Northvolt Ett, we will now put in another gear to scale up production even faster and larger than before," said Carlsson.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on LinkedIn.
