Northvolt investor hails sustainability edge
Swedish battery maker’s ESG credentials are hailed as competitive advantage
Stockholm-headquartered Northvolt has won a $400mn investment from Canadian pension fund the Investment Management Corporation of Ontario (Imco) that will help drive its ambition of delivering 150 GWh of annual production capacity by 2030. And the firm’s commitment to low-carbon production has attracted particular attention from its new partner.
“With this investment, we are tangibly delivering on our climate action plan, while also strategically managing material ESG risks, ultimately generating sustainable long-term value for our clients," says IMCO chief investment officer Rossitsa Stoyanova. “Northvolt is a remarkable example of a company that has taken one of its core values — ESG leadership — and turned it into a competitive advantage,” adds Matthew Mendes, the firm’s managing director, head of infrastructure.