Northvolt's Quest for Financial Stability Amid Funding Talks

Northvolt is negotiating €200 million in funding to stabilize its finances. Despite challenges, the Swedish battery maker aims for additional capital while ensuring it can meet tax obligations. Sources reveal the company has made progress in its cash-raising efforts, though details remain confidential.

Northvolt, the Swedish battery manufacturer, is actively engaging with investors and lenders to secure approximately €200 million in funding. According to three confidential sources, these discussions are part of the company's strategy to stabilize its immediate financial situation.

Sources have noted that the negotiations are ongoing this week as Northvolt pursues this short-term financing while planning to gather a larger capital sum. Representatives from the company reiterated on Friday, referencing their September 24 statement, that significant steps have been made in their cash-raising endeavors, though they declined further comments.

Responding to market speculation, late Thursday Northvolt confirmed its capability to meet an impending tax payment of 287 million Swedish crowns due on Monday, ensuring stakeholders of its financial obligations amidst the funding talks.

(With inputs from agencies.)