Northvolt Acquires Cuberg to Accelerate Next-Gen Batteries for Electric Mobility
In a Wall Street Journal exclusive, Swedish battery maker Northvolt announced its acquisition of Cuberg, a U.S.-based battery technology startup delivering high-performance lithium metal cells produced on existing lithium-ion manufacturing lines for electromobility solutions. In addition to being covered in the Wall Street Journal, the Northvolt acquisition was reported by CleanTechnica, PV Magazine, Forbes, The Financial Times, The Mobilist, TechCrunch, Chemical & Engineering News, Recharge, and InsideEVs.
Cuberg spun out of Stanford University in 2015 with the goal of commercializing next-generation battery technology based on a groundbreaking liquid electrolyte combined with a lithium metal anode. Cuberg has already attracted customers including Boeing, BETA Technologies, Ampaire, and VoltAero with battery technology that is ideal for commercialized electric transportation. Their scalable manufacturing model is also a crucial asset for Northvolt as they prepare to meet the growing demand and shift towards electric transportation.
Northvolt supplies high-quality battery cells and systems, playing a vital role in reducing the carbon emissions of European countries while also minimizing their own carbon footprint from manufacturing lithium-ion battery technology. Recognizing the innovative solutions developed by Cuberg, Northvolt identified an opportunity to utilize Cuberg’s manufacturing capabilities to improve performance and safety of battery products while also reducing unit costs.
Northvolt acquired the company to lead its U.S. operations, aiming to bridge ongoing research efforts between Europe and North America. Northvolt is establishing an advanced technology center in Silicon Valley-based on the Cuberg acquisition and is actively hiring top battery industry talent to support these efforts. In addition to accelerating the lithium metal cell development and optimizing the technology for automotive applications, the new center will focus on materials research and development for best-in-class lithium-ion anode and electrolyte technologies.
Richard Wang, CEO and Co-founder of Cuberg, is eager for the operational and developmental growth which will follow this new transition, stating, “Northvolt brings incredible technology and manufacturing capabilities that will accelerate the commercialization and adoption of our lithium metal technology. Their deep engineering experience and bold spirit perfectly complement Cuberg’s own culture of rapid innovation”.