ATP

ATP increases its billion investment in sustainable electric car batteries

Share

ATP has increased its investment in the Swedish battery firm Northvolt, which supplies sustainable electric batteries to the automotive industry, among others. The company already has contracts worth more than DKK 165 billion, with prominent names such as Volkswagen, BMW and Scania on the client list.

ATP is currently the only Danish investor involved in a major equity raise in the Swedish electric battery company and will be investing a further DKK 900 million, which makes the current total investment DKK 1.5 billion. The company has currently raised DKK 17 billion towards the expansion of the planned capacity, where the company is looking to produce 60 GWh annually at its factory in Skellefteå in northern Sweden.

 The world’s most sustainable electric car battery

One of the company’s goals is to produce the world's most sustainable electric car battery by using hydropower in the energy-intensive process. Northvolt has also set up an ambitious goal to have recycled batteries treated at its own factories make up half of the raw materials used in production by 2030. The raw materials will exclusively come from suppliers where the production follows OECD guidelines.

 ATP’s CEO Bo Foged says:

“We have been involved from the start two years ago and it has obviously not been without risk, but Northvolt breathes sustainability into the entire value chain and that fits perfectly with our own ambition, where we want to contribute to the green transition while also making a good return. The transport sector is undergoing a much-needed transition to using more sustainable forms of energy and we need more solutions – Northvolt has one of them, and we are proud to be part of the development and being able to create a good return for our members at the same time”, says Bo Foged, CEO of ATP.

 Northvolt currently has contracts for a total of DKK 165 billion with automotive manufacturers such as Volkswagen, BMW and Scania, which will purchase the batteries that Northvolt expects to produce on a large scale from the end of 2021.

 Link to photos: https://northvolt.com/articles/northvolt-press-kit

For more information, please contactStephan Ghisler-Solvang, Head of Press, tel.: +45 6122 9392, e-mail: stg@atp.dk

Documents

About ATP

ATP
ATP
Kongens Vænge 8
3400 Hillerød

70 11 12 13https://www.atp.dk/

The ATP Group is Denmark's largest pension company and processing business. We solve tasks for almost all Danish citizens and companies. With pension assets of DKK 907 billion, ATP is one of Europe’s largest pension companies. Pensions & Investments are responsible for ATP's pension product, ATP Livslang Pension (Lifelong Pension). ATP Livslang Pension is a collective scheme with more than 5 million members. The aim is to provide good and stable pensions by ensuring a lifelong real value guarantee. This is done by investing in e.g., bonds, equities, real estate and infrastructure. ATP Livslang Pension ensures that almost all citizens in Denmark receive a supplement to the state pension when they retire – and for the rest of their lives.

Subscribe to releases from ATP

Subscribe to all the latest releases from ATP by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from ATP

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom