Setterwalls advises Baillie Gifford in connection with an investment in Northvolt

Setterwalls advised Baillie Gifford in connection with its investment in Northvolt as part of a private placement by the company.

Baillie Gifford is an independent investment partnership, focusing on long-term growth investing. It has assets under management of £262 billion as at 30 June 2020. Northvolt raised a total of $600 million in the private placement. Northvolt is a European supplier of battery cells and systems. The company was founded in 2016 with the ambition to enable the transition to a fossil free Europe. The financing enables the company to make further investments in expanding its production and recycling capacity as well as R&D activities to support the target of establishing 150 GWh of manufacturing capacity in Europe by 2030.