Q&A with Alexander Hartman, Northvolt's CFO

Alexander Hartman has been Northvolt’s CFO since joining the company 6 years ago. We sat down with Alex to discuss the challenges he faces in his role, what inspires him, and what advice he would give to people looking to join the company.?

?Could you tell me a little bit about your background???

I was raised in a small town with a rich industrial heritage in the south of Sweden called Klippan – I think that’s where my interest in industrial development started.?

After graduating from Stockholm School of Economics with a master's degree in Corporate Finance, my career began at Goldman Sachs, where I worked in the European Industrials team. There, I advised on strategic plans, large M&A, capital raises and financial restructuring for large-cap companies.?

Prior to joining Northvolt, I spent some time in the Nordic private equity sphere, working closely with management teams to acquire, develop and eventually sell companies. This allowed me to see how a clear and aligned strategy, focused on the right topics, can have a strong impact on development and results.?

Why did you join Northvolt??

Throughout my career, I spent a lot of time learning about the climate challenges we face, but also the opportunities that come with the net-zero transition. I often thought that there had to be a better way to work in the financial sector for a more sustainable future, and I wanted to be part of the solution. A mission-driven, multi-cultural company like Northvolt was a great fit. The opportunity to build something from scratch and really make an impact also appealed to me.??

What are your responsibilities as CFO??

My team is responsible for IT, Security, and of course, finance. With IT and Security, we are responsible for setting certain environments, processes and systems in place while ensuring that those systems are resilient, scalable and secure. Within finance, we manage financial control, reporting, business control, as well as financial planning and capital raising. We’ve raised a lot of capital since the company was founded, and I’m really proud of my team for their hard work.?

How would you describe what it's like to be a part of your team at Northvolt??

Well, working with finance here at Northvolt is different to working with finance at other companies. We’ve been through lots of different stages, each with their own challenges. From taking a start-up with a handful of people into the industrialization phase, to proving the product and the process, and now scaling up to giga volumes and future growth, the finance team gets to be a part of planning, building, setting standards and creating the best possible conditions for the company to work in.

I like the fact that we don’t have any legacy – we’re the ones shaping the way that we work. This allows us to leverage novel technologies and create an efficient set-up that works for us and our needs.??

What is the most challenging part of your role??

Being a leader can be challenging at times. You have to keep the team engaged, happy and passionate about the work we do here and make sure we prioritize our time in the best possible way.

In terms of capital raising, our ability to raise funds is an unprecedented success story, one that has definitely been and continues to be a challenge but also something that enables us to move faster than our competition. In the phase we are in, we need to continue to deliver our proof-of-concept with tight financial control of investments and ramp-up, while also preparing ourselves to take risks as we scale our operations and provide the funding to support that.?

What inspires you right now??

I’m inspired every time I go to Northvolt Ett in Skellefte?. To see what we have accomplished so far, the progress we continue to make every day, and the resilience of our people is truly inspirational.

On a bigger scale, I’m inspired by what is happening around the world. People, policymakers and financiers seem to be really catching on to the fact that we need to make some large-scale industrial changes to tackle the climate crisis.?

What advice would you give to new Northvolters??

Enjoy the ride and when things get tough, remember the bigger picture. Also make sure that you are deliberate in how you prioritize your time – whether that be at work or at home.??

?