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Morrow Batteries ASA raises NOK 567 million in a convertible loan

Morrow Batteries ASA raises NOK 567 million in a convertible loan

Morrow Batteries ASA (“Morrow”) today announces an agreement with four of its main shareholders on a convertible loan of NOK 567 million, funding the continued development in Southern Norway. The first battery factory is scheduled to open in the first quarter of 2024.
The company is growing fast and the proceeds from the convertible loan will finance the continued build-up of Morrow Batteries’

From left: Amira Bakar, Process Engineer and Marcus Våle, Project Manager

Morrow Batteries has started battery cell production at its technology development centre in South Korea

Morrow Batteries has announced that its Customer Qualification Line (CQL) in Chungju-si, Korea is now operational.
"We are delighted to announce another milestone for Morrow Batteries. Following the successful development of an A-sample Lithium iron phosphate (LFP) battery cell earlier this year, we will now be able to produce up to 2.000 final format prismatic cells monthly at our production l

Lars Christian Bacher of Morrow and Jon Anders Hammersmark of Eldrift have agreed on a long-term battery supply agreement

Morrow Batteries and Eldrift signs MoU for long-term supply of Battery Energy Storage Solutions

Morrow Batteries (Morrow) and Eldrift have agreed to establish a long-term supply of batteries for Eldrift's battery energy storage solutions. This partnership further strengthens Norway's position as a hub for Europe's battery and energy storage industry.
Under the non-binding offtake agreement, Eldrift has committed to purchasing 1.5 GWh of Morrow's batteries starting in 2024, when Morrow sta

The A-sample cell has passed several safety and transport tests such as UN38.3, UL9540A, IEC62619 and IEC62660-2.

Morrow Batteries announces significant development milestone with the production of A-sample LFP cells

Morrow Batteries ASA (Morrow) has successfully developed its first LFP battery cell.
“We are happy to announce that we have produced, certified and delivered A-sample LFP battery cells to select customers. I congratulate the dedicated team on this achievement after lots of hard work”, says Dr. Rahul Fotedar, Morrow’s Chief Technology Officer.
The A-sample is the first step toward commercial

Morrow signs MoU with AI startup Optimeering

Morrow signs MoU with AI startup Optimeering

Norwegian cleantech companies Morrow Batteries ASA (Morrow) and Optimeering AS join forces to develop AI-driven automation software for short-term power market operations.


The production must at any time align with the consumption for the power system to be stable. Norway used to have a large surplus of flexible hydropower. The green energy transition will change this as society is in

From left: Lars Christian Bacher of Morrow, Bent Thomasen of Rehnus Norway and Rune Hvass, Harbour Master at the Port of Arendal

Morrow Batteries to start operations through Eydehavn port

Morrow Batteries ASA (Morrow) has signed a logistics services agreement with Rhenus Norway AS for delivery of production equipment for its battery cell factory, marking the starting point for Morrow’s operations through the Eydehavn Port of Arendal.

“We are teaming up with an innovative and flexible agent. Rhenus Norway has developed a solution combining sea freight, integrated European lo

Contacts

Naja Boone

Naja Boone

Press contact Director of Marketing & Communications +47 93079019

Speeding up the energy transition with cost-effective and sustainable batteries.

Follow our journey at morrowbatteries.com and @MorrowBatteries on LinkedIn.

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