In November, the Swedish company Northvolt filed a bankruptcy statement, and the sources familiar with the events told Reuters that this month she asked her shareholders to provide her with $ 1.29 billion in the next two years to save the business batteries.
Image source: Northvolt
In the year before last, Northvolt filed a bankruptcy application just after the failure of negotiations with potential investors. Former General Director Peter Carlsson stated in November that in the long term for the company’s survival, an amount of $ 1 billion to $ 1.2 billion would be enough for the company to cover current expenses only until the middle or end of February this year. In response to Reuters request, Northvolt representatives reported that many potential sources have expressed their interest in financing its activities. Among them there are both strategic and financial investors, the company is now consulting with experts.
Among the shareholders NorthVolt are Goldman Sachs, BMW, Scania and Volkswagen. Which of them was present at the meeting at which the company announced its financing needs is not specified. Ideally, the Savior of Northvolt could be acted by producers of traction batteries from China, South Korea or Japan, since they are interested in developing a specialized business in Europe. Some of the competitors could become a shareholder of Northvolt if he offers the money necessary for her salvation. Another source of small means to maintain operating activities could be getting rid of some non -core assets, as representatives of the company made it clear. In particular, $ 6.79 million will be able to help out by selling NorthVolt shares on the capital of Hydrovolt – a company for processing the served their batteries.