About NOVO Energy
NOVO Energy is a company based in Goteborg (Sweden) founded in 2021 was acquired by Volvo Cars in February 2025.. NOVO Energy offers products and services including Lithium-ion Batteries. NOVO Energy operates in a competitive market with competitors including Lohum, Microvast, Contemporary Amperex Technology, Forsee Power and A123 Systems, among others.
- Headquarter Goteborg, Sweden
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Sectors
Transportation, Automotive & LogisticsEnergy & Utilities
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Phone
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Website
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Social
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- Legal Name Novo Energy Ab
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
- Investors
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Employee Count
Employee Count
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Acquired by
Volvo Cars
(Feb 07, 2025)
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Products & Services of NOVO Energy
NOVO Energy offers a comprehensive portfolio of products and services, including Lithium-ion Batteries. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Sustainable batteries for electric vehicles and automotive integration
Funding Insights of NOVO Energy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in NOVO Energy
NOVO Energy has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Volvo Cars. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Automobiles and related products are manufactured by Volvo Cars.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by NOVO Energy
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - NOVO Energy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Novo Energy Comparisons
Competitors of NOVO Energy
NOVO Energy operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Lohum, Microvast, Contemporary Amperex Technology, Forsee Power and A123 Systems, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Recycles lithium-ion batteries and repurposes battery raw materials through low-carbon refining
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| domain | founded_year | HQ Location |
Lithium-ion batteries for multi-category electric vehicles are developed.
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| domain | founded_year | HQ Location |
Comprehensive solutions for electric vehicles and energy storage are provided.
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| domain | founded_year | HQ Location |
Lithium battery systems for electric vehicles and gadgets are manufactured.
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| domain | founded_year | HQ Location |
Lithium-ion batteries for automotive and industrial uses are manufactured.
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| domain | founded_year | HQ Location |
Rapid-charging technology for electric vehicles is developed and scaled.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about NOVO Energy
When was NOVO Energy founded?
NOVO Energy was founded in 2021.
Where is NOVO Energy located?
NOVO Energy is headquartered in Goteborg, Sweden. It is registered at Goteborg, Vastra Gotaland, Sweden.
What does NOVO Energy do?
NOVO Energy was founded in 2021 and is based in Gothenburg, Sweden. Operations focus on the energy sector, where lithium batteries for automotive use are supplied. Advanced, integrated, and customized energy solutions are delivered via gas infrastructure and supporting technology. Services address electric vehicle needs in the Nordic region and beyond, with emphasis on sustainable power systems.
Who are the top competitors of NOVO Energy?
NOVO Energy's top competitors include Lohum, Microvast and Solid Power.
What products or services does NOVO Energy offer?
NOVO Energy offers Lithium-ion Batteries.
Who are NOVO Energy's investors?
NOVO Energy has 1 investor. Key investors include Volvo Cars.
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