Danish pension funds to finance Swedish battery factory

The loan is a part of a larger credit package for the Swedish battery manufacturer.

PFA Head of Alternative Investments Peter Tind Larsen | Photo: PFA/PR

Danish pension companies PFA and Danica have entered a credit agreement with Swedish battery producer Northvolt.

The money will be used to develop what will become Europe's largest factory for production of Li-ion batteries, mainly for use in electric vehicles, the two institutional investors inform in a media release.

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