Swedish battery developer and manufacturer, Northvolt, is reportedly financing a sum of 200 million for the construction of Europes biggest energy storage systems factory located in Gdansk, Poland. The 50,000 sq. meter facility will be constructed in two phases. While construction of the first phase of the factory is set to commence this year, the production is anticipated to begin in 2022.
According to the Co-founder and CEO of Northvolt, Peter Carlsson, it is crucial to secure battery cell manufacturing capacity for the industrial future of Europe. Carlsson also stated that it is vital to develop industrial capacity for the integration of cells into real-world solutions. The new factory will deliver sustainable and sophisticated energy storage systems for backing the transformation of Europes industry and its electricity grid, added Carlsson.
Reports state that the factory will generate 500 new jobs in the Gdansk region. As per a statement by Northvolt, the company is keen on becoming a world leader in the delivery and development of sustainable, premium battery solutions for the European industry.
The new facility will assist the enterprise in improving its manufacturing capacity. Under the companys battery solutions delivery, Northvolt provide technical solutions to help end industrial dependence on fossil fuels.
For the uninitiated, the first phase of the project will have an annual output of 5GWh of packs and modules while the second phase of construction will witness the factory expand to an overall capacity of 12GWh. The factory is also poised to feature an engineering research and development center, which would only utilize the energy generated from renewable sources, comprising on-site generation.
It is to be noted that Northvolt is one of the most promising battery startups in Europe. The company has a sound investor base that comprises Baillie Gifford, BMW AG, Goldman Sachs Group Inc., and Volkswagen AG.