Northvolt, Some Units Voluntarily File for Chapter 11 (1)

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Northvolt AB and certain of its units voluntarily filed for Chapter 11 reorganization in the United States.

• Reorganization facilitates access to $145m in cash collateral and $100m debtor-in-possession financing
• Operations to continue as usual during Chapter 11 reorganization process
• Co will continue to make deliveries to customers, while fulfilling obligations to critical vendors and payment of wages to employees
• Northvolt Ett, flagship battery gigafactory in Skellefteå and Northvolt Labs in Västerås will remain operational as co. ramps up production to meet commitments
• “This decisive step will allow Northvolt to continue its mission to establish a homegrown, European industrial ...