Wednesday, April 10, 2024

Northvolt to build fully integrated li-ion battery gigafactory in Quebec

Swedin-based battery manufacturing company Northvolt has announced that it will set up a fully integrated lithium-ion battery gigafactory, named Northvolt Six, near Montreal in the Canadian province of Quebec.

Northvolt Six will have an annual cell production capacity of 60 GWh, with attached facilities for cathode active material production and battery recycling that will enable fully circular production at the site.

The first phase of the project will have a 30 GWh annual cell production capacity. The construction of the initial phase is scheduled to begin before the end of 2023, and the first operations will start in 2026.

This initial phase of cathode and cell manufacturing, including battery recycling, is expected to require a total investment of $5 billion and employ up to 3,000 people.

It has been developed with strong support from the Government of Canada and the Government of Quebec. This gigafactory will represent the most significant private investment in Quebec’s history.

Peter Carlsson, CEO and Co-Founder of Northvolt said, “In the seven years since Northvolt was founded, we have pursued a singular goal – to establish a new, sustainable model for battery manufacturing. Today, we are expanding our ambitions by bringing Northvolt to Canada.”

The 170-hectare site for Northvolt Six in McMasterville and Saint-Basil-le-Grand, near Montreal city, was chosen after an extensive review of locations in North America.

The site meets several criteria necessary to ensure that the company can meet its commitment to sustainable battery production. According to the government of Quebec, 94% of Quebec’s electricity generation comes from hydroelectric resources.

Quebec hydroelectricity guarantees cell production from 100% renewable energy, and it represents an ideal location for the region in the North American automotive value chain.

Northvolt Co-Founder Paolo Cerruti will lead the project as CEO of Northvolt North America, which will have its head office in Montreal.

“We have in Northvolt Six enormous potential, not only to rapidly expand our ability to bring sustainable batteries into markets of North America but to accelerate Quebec’s emergence as a key actor in the global energy transition. With its unique access to renewable power and raw materials, we see this as the ideal base of operations for Northvolt’s first gigafactory outside of Europe. We look forward to engagement with all local stakeholders and the province to make Northvolt Six a textbook example of sustainable investment “, Cerruti said in a statement.