A database run by a US-based electricity sector research organisation reveals the countries with the worst records for utility scale, or industrial, energy storage-related fires
IMCO to invest $400m in Northvolt
The Investment Management Corporation of Ontario (IMCO) is to invest $400 million in sustainable battery cell manufacturer Northvolt.
The funds will enable Northvolt's “planned expansion, aligned with IMCO and the company's commitment to a deeply sustainable battery supply chain”, a statement said.
Northvolt's first gigafactory, located in northern Sweden, has begun producing batteries for energy storage systems and electric vehicles using fossil-free electricity.
Future gigafactory additions will support Northvolt's goal of delivering 150 GWh of annual production capacity by 2030.