European Standout Fundraising Achievement of the Year 2020 Awarded to Northvolt for Over $2 Billion in Fundraising

London, UK  18 January 2021

In recognition that nothing short of transformation across all industries is necessary to bring our world into a digitised, decarbonized and cleaner future, Cleantech Group has named Northvolt winner of its Standout Fundraising Achievement of the Year 2020 award. 

Cleantech Group examined the fundraising activities of 2020 to find a company active in clean technology in the Europe and Israel region whose fundraising achievement stood out to Cleantech Group’s analysts for any combination of its audacity or its novelty, its impressive execution or the quality of its syndicate, or its pioneering and example-setting nature.

Why Northvolt?

Founded in 2016, Northvolt aims to develop the world’s greenest lithium-ion battery to power new electric cars built by some of Europe’s largest automotive manufacturers. The award highlights Northvolt’s recent $0.6m equity and $1.6m debt fundraisings and its determination to increase production, double the size of its labs and create a pioneering recycling facility.  

“We are delighted to make this award this year to Northvolt, for its combined $2.2 billion 2020 fundraisings,” said Richard Youngman, CEO, Cleantech Group. “We salute the audacity to have set out, in a very un-European way, to build Europe’s own mega-factory for batteries, one of the critical enablers of the electrification mega-trend – and to be succeeding in convincing major investors that this is the future.”

The award forms part of the series Cleantech Group has been running since 2002 to celebrate the achievements of companies, investors and individuals.

About Cleantech Group

At Cleantech Group, we provide research, consulting and events to catalyze opportunities for sustainable growth powered by innovation. We bring clients access to the trends, companies and people shaping the future and the customized advice and support businesses need to engage external innovation.

Industries are undergoing definitive transitions toward a more digitized, de-carbonized and resource-efficient industrial future. At every stage from initial strategy to final deals, our services bring corporate change makers, investors, governments and stakeholders from across the ecosystem, the support they need to thrive in this fast-arriving and uncertain future.

The company was established in 2002 and is headquartered in San Francisco with people based in London, Paris and Boston.