Northvolt Backers Invest $49 Million in Polarium (Correct)

Battery-storage company Polarium Energy Solutions AB raised 500 million Swedish kronor ($49 million) in a fresh funding round backed by investors with stakes in beleaguered battery maker Northvolt AB.

Polarium issued convertible preference shares to existing investors, according to a statement on Tuesday. They include Harald Mix, who has through his investment vehicle Vargas Holding AB bet big on some of the most high-profile green technology firms in the Nordic country, and pension funds AMF and Alecta, made famous by its $3.2 billion in losses on US niche banks and European real estate.

Harald Mix

Source: Vargas Holding AB

Polarium focuses on energy-storage ...