Northvolt gets $400 million in funding from Investment Management Corporation of Ontario
Last valued at $12 billion in 2021, Northvolt has been in talks with banks about a potential IPO that is estimated to value it at more than $20 billion
Swedish battery-maker Northvolt has received $400 million from Canada's Investment Management Corporation of Ontario (IMCO) to help the company expand production volume of lithium ion (Li-ion) batteries ahead of a possible initial public offering (IPO), according to a news report published by Reuters on June 20.
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