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Northvolt CEO Says Long-Term Capital Needs Top $900 Million
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Cash-strapped battery maker Northvolt AB is working on a plan to raise more than 10 billion kronor ($920 million) to continue its operations beyond the immediate horizon, according to its chief executive officer.
“In the long term we need to secure a capitalization of somewhat north of 10 billion kronor in the coming year,” CEO Peter Carlsson told reporters after a seminar in Stockholm on Wednesday. “We are talking to existing owners as well as potential new investors.”