EU to support Northvolt’s European battery project with InnovFin backing
- The EIB has approved a loan for the construction and operation of a first-of-a-kind demonstration plant in Västerås, Sweden, for the manufacturing of li-ion batteries.
- The loan, of up to EUR 52.5 million is set to be supported by the European Commission through InnovFin, under the “Energy Demo Projects” (EDP) Facility.