Northvolt asks shareholders for $1.3 billion for next two years, sources say [Yahoo! Finance Canada]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance Canada
Former CEO and co-founder Peter Carlsson told journalists in November that the company would need between $1 billion and $1.2 billion in the long term, but did not give a specific timeframe. The request for funding to last until 2027 comes as Northvolt intensifies a search for investment before its cash reserve runs out in February. In response to Reuters' questions, Northvolt said "numerous parties" had submitted indications of interest in its financing process. "The company and its advisers are engaged in productive conversations and due diligence with both strategic and financial investors," a spokesperson said, declining further comment. It is not clear how shareholders responded to the request or if they will stump up any cash. The sources decli
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