Stockholm-based Northvolt acquires US-based battery tech company Cuberg

Swedish battery maker Northvolt has acquired US-based Cuberg, and gains access to high performance lithium metal technology that can be built upon already existing lithium-ion manufacturing lines. Specifically, those already in place and serving the electromobility market.

Terms of the sale remain undisclosed.

Cuberg counts Boeing, BETA Technologies, Ampaire, and VoltAero as existing customers, and investors and financial backers including Boeing HorizonX Ventures, Activate.org, the California Energy Commission, the U.S. Department of Energy, and the TomKat Center at Stanford.

Spun out of Stanford University in 2015, Cuberg’s raison d'être is to commercialise next-gen battery technology, based on the combination of a liquid electrolyte with a lithium metal anode. Validated by third parties, the cells deliver more than 60 percent increased range and capacity when compared to lithium-ion cells designed for high-rate electric aviation applications.

Northvolt and Cuberg are looking to flesh out the automotive and industrial product portfolio with the ambition to industrialize cells that exceed 1,000 Wh/L but 2025, while meeting automotive customer requirements.

“The Cuberg team has shown exceptional ability to develop world-class technology, proven results and an outstanding customer base in a lean and efficient organization. Combining these strengths with the capabilities and technology of Northvolt allows us to make significant improvements in both performance and safety while driving down cost even further for the next-generation battery cells,” said Peter Carlsson, CEO and Co-Founder, Northvolt.

Doubling down on the acquisition, Northvolt will establish an advanced technology center in Silicon Valley, and is actively recruiting top battery industry talent. In addition to further lithium cell development, the center will also focus on materials research and development of lithium-ion anode and electrolyte technologies as well as methodologies leveraging digitalization, artificial intelligence and machine learning.

“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,” says Cuberg CEO and Co-Founder Richard Wang.