LOOKING TO THE FUTURE OF ENERGY
Northvolt is Sweden’s leading developer of electric vehicle car batteries for leading car manufacturers transitioning to decarbonized, electric solutions. Northvolt is also an early recipient of a new program from OMERS Capital Markets, called Relationship & Strategic Investing (RSI), seeking growth opportunities outside of traditional categories and asset classes around the globe.
/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images RSI applies creative and flexible thinking to unlock investment opportunities in themes such as decarbonization, cleantech, automation and telecommunications in alignment with OMERS focus on the low carbon and technology sectors. RSI partnered with a group of world-class partners to support Northvolt with a US$2.75 billion equity raise to fund operations, purchase assets and invest in projects as the company grows.
Northvolt batteries are made using clean energy sources and have an 80% lower carbon footprint than batteries made using coal energy. They are also 97% recyclable, which means that when a Northvolt battery reaches the end of its lifecycle, most of the battery cell can be reused to make another one. The equity provided to Northvolt from RSI will help the Swedish company meet the increasing demand from its customers, including BMW, Polestar, Volkswagen and Volvo, for more decarbonized and electric solutions.
Northvolt is the inaugural investment of RSI and indicative of OMERS advanced efforts to expand our renewable energy footprint and evolve our approach to public equities. In addition to helping Northvolt achieve its mission of building the world’s greenest battery, and enable the European market transition to renewable energy, OMERS led the March acquisition of Saguro by Leeward Energy, a U.S.-based renewable energy company building seven new greenfield solar projects to generate clean energy with low emissions — and OMERS investments will only get greener from here.