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