From pv magazine USA
Northvolt has announced plans to develop a fully integrated lithium-ion battery gigafactory in Quebec, Canada. The The Northvolt Six facility, just outside of Montréal. will be similar to the sustainability-centered design of Northvolt’s other facilities to accommodate 60 GW/h of annual cell manufacturing capacity.
The Swedish battery manufacturer produces lithium-ion cells based on Lingonberry lithium nickel manganese cobalt oxide or NMC. They come in cylindrical and prismatic formats. The 2170 cylindrical cells are available in three formats: Energy, Power and Life.
Alternatively, prismatic cells are custom-made. The company assembles cells into battery systems for customers in energy storage and industrial markets.
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Northvolt uses sustainable practices for its battery cell production, including wind, hydroelectric power, wastewater treatment, and materials recycling. It aims to recycle 50% of raw materials for cell production by 2030.
The company chose the strategic location of Northvolt Six in Quebec chosen due to its proximity to raw materials, renewable energy, and key US automotive manufacturers. The development of the first 30 GWh phase will begin by the end of this year, with operations starting in 2026, for an investment of $5 billion.
Northvolt secures funding through customer contracts, supply agreements, limited recourse financing, and collaborations with lenders and financial institutions. Major shareholders, including Volkswagen Finance Luxembourg SA, Goldman Sachs Asset Management funds, and Vargas Holding AB, play a significant role in Northvolt's development projects. The project will be led by Northvolt co-founder Paolo Cerruti, serving as CEO of Northvolt North America, headquartered in Montréal.
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