Northvolt AB has awarded Australia’s Worley a services contract for a new battery chemicals plant that will feed its US$4.7 billion Skelleftea lithium-ion battery gigafactory in Sweden.
The facility will produce cathode active material (CAM) for battery making.
Worley is providing engineering, procurement, and construction management (EPCM) services. It said the award extended its “strategic partnership with Northvolt to support delivery of future battery material projects”.
Northvolt announced in July this year it had secured a $1.1 billion convertible note to finance its expansion of battery cell and cathode material production in Europe. The note took the company’s total equity and debt fund raising since 2017 to nearly $8 billion. It said it was developing manufacturing capacity to deliver on $55 billion of orders from customers such as BMW, Fluence, Scania, Volvo, and Volkswagen Group.
Northvolt has said it intends to source 50% of raw materials for its production from recycled batteries by 2030.
