From ESS News
Peter Carlsson has resigned as CEO of Swedish battery maker Northvolt, one day after the business filed for Chapter 11 bankruptcy protection in the United States. Carlsson has led the company since he co-founded it in 2016.
Northvolt announced it had voluntarily filed for Chapter 11 reorganization in the United States on Nov. 21, 2024. A US Chapter 11 filing is often referred to as a reorganization bankruptcy and can allow the business to continue operating, and in some cases borrow more funds. Northvolt has said filing Chapter 11 will allow it to restructure debt and “appropriately scale the business.”
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