26 Jun 2019

Hammarskiöld advised Scania in Northvolt EUR 900 million equity round

Hammarskiöld has acted as acted legal adviser to Swedish truck manufacturer Scania in its participation in the approx. 900 million EUR equity round for financing of Swedish lithium-ion battery manufacturer Northvolt. Other investors include VW, Goldman Sachs and BMW.  In addition to the equity financing, Northvolt will raise substantial debt financing, including approx. 350 million EUR of financing provided by the European Investment Bank.

The financing is raised for the construction of a battery plant in Skellefteå in northern Sweden to provide an initial 16 GWh of cell manufacturing capacity. Northvolt has confirmed added it had already sold a significant part of planned production volumes at a combined order value of more than $13 billion through 2030.

The Hammarskiöld team has also advised Scania in the negotiation and execution of a long-term battery cell supply agreement with Northvolt.

Hammarskiöld’s team consisted primarily of:

Peder Hammarskiöld (Senior Partner)

Erik Fahlgren (Partner)

Lars Ulrichs (Senior Advisor).