Marubeni and Northvolt Sign Memorandum of Understanding for Collaboration in the Lithium-Ion Battery Business

May. 15. 2018
Marubeni Corporation

Marubeni Corporation (hereinafter, “Marubeni”) has signed a Memorandum of Understanding (hereinafter, “the Agreement”) with Northvolt AB (hereinafter, “Northvolt”) for collaboration in the lithium-ion battery (hereinafter, “LiB”) business.

Given the growing demand for LiBs in Europe, Northvolt is planning to build a large-scale 32GWh LiB factory in Sweden. Marubeni is considering supplying the Northvolt’s LiB factory with LiB manufacturing equipment and LiB raw materials.

With the increasing demand for storage batteries, Northvolt is aiming to expand their storage battery sales. Marubeni will support their marketing activities, fully using Marubeni’s knowledge in the renewable energy business.

Focusing on the expanding electric vehicle and LiB (used) recycling market, Marubeni and Northvolt are looking at jointly developing an LiB recycling business.

Taking advantage of the knowledge gained in the LiB business, Marubeni is expanding its solar power generation, storage batteries and other social infrastructure businesses that will help accelerate the electrification of society.

<Outline of Northvolt>

Corporate name : Northvolt AB
Address : Gamla Brogatan 26 111 20 Stockholm
Representative : Peter Carlsson
Foundation : 2015
Principal of Business : LiB Foundry