ESG & Investing
Northvolt Gets $400 Million From Ontario Fund for Green Battery
- Move comes amid talks with Canada, Quebec governments
- Firm makes batteries with clean energy and recycled materials
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Ontario’s pension fund for government workers is investing $400 million in Northvolt AB, a Swedish sustainable battery company that’s exploring setting up shop in Canada.
The company, which already produces electric-vehicle batteries in Sweden, will use the money from Investment Management Corp. of Ontario to help fund its expansion in Europe, the fund said.