Overview

• Insolvency trustee Mikael Kubu confirmed a first unverbindliches offer from an international investor and said two other parties have expressed interest
• Construction at the Heide site in Schleswig-Holstein proceeds under the existing insolvency framework despite Northvolt’s March filing
• Bund and Schleswig-Holstein provided about €600 million in KfW convertible loans and secured EU approval for roughly €700 million in grants, funding now under parliamentary review
• A PwC due diligence report highlighted major information gaps and simplifying assumptions in Northvolt’s business plan evaluation
• The Bundesrechnungshof faulted the Economics Ministry for underestimating risks, prompting budget committee hearings with Minister Katherina Reiche and invited testimony from Robert Habeck