There has been speculation in recent days that Northvolt would choose a so-called Chapter 11 process in the US among various options. And so it was.
– The reason we have chosen this process is that it is very advantageous for Northvolt, says Matti Kataja.
What does this mean concretely for the business in Skellefteå?
– As usual, we continue to produce battery cells, the company can fulfill all its obligations towards customers, suppliers and employees.
Get rid of 245 million dollars
Matti Kataja highlights that, through the reconstruction, Northvolt gets access to capital equivalent to 245 million dollars.
– Now, for a number of months, we can work through a number of issues at the same time as we get access to capital that allows us to continue producing battery cells, he says.
Matti Kataja states that the company aims to be finished with the process by the end of the first quarter of 2025. Until then, operations in Skellefteå must be secure.
– This is a strong platform that we can work from while we review how we should work going forward. We can continue to run our business in Skellefteå and Västerås, he says.
Burman: “Means a respite”
The municipal councilor Lorents Burman was contacted by the message during Thursday afternoon. He assesses that Northvolt’s financial problems have largely left their mark on the town of Skellefteå, not only among residents who are in one way or another directly affected by the business and the company’s future.
– The fact that Northvolt now gets the opportunity for a Chapter 11 solution means a respite for some time ahead, he says.
The municipal council repeats what it has said before: Europe’s first and largest battery factory simply cannot be allowed to end.
There would be dire consequences
– It would have far-reaching consequences for Swedish industry and technology development – also in Europe, says Lorents Burman.
He notes difficulties in assessing the long-term consequences of a reconstruction in the United States. But Thursday evening’s announcement means at least a temporary relief – for the company, its staff and the entire village.
– A great relief, I would like to say. Northvolt’s concerns have caused great concern during the autumn. The message is very positive. Unfortunately, the 1,100 employees who have already been notified are not affected, says Lorents Burman.