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Morrow Batteries raises up to EUR 70 million in new capital from its owners

Morrow Batteries raises up to EUR 70 million in new capital from its owners

Morrow Batteries ASA ("Morrow") is raising up to EUR 70 million (approximately NOK 800 million) through a private placement guaranteed by the company's largest owners. The raise in two tranches provides the company with capital to continue its development of next-generation sustainable batteries and brings Morrow closer to commercial production. The company's extraordinary general meeting on Septe

The Board of Directors of Morrow Batteries proposes to raise up to EUR 70 million in new capital from its owners

The Board of Directors of Morrow Batteries proposes to raise up to EUR 70 million in new capital from its owners

The Board of Directors of Morrow Batteries ASA ("Morrow") proposes to the company's extraordinary general meeting (EGM) that the company raises up to EUR 70 million in new equity (approximately NOK 800 million). The proceeds will be used to continue the development of next-generation sustainable batteries and strengthen the investment in the industrial park in Arendal, Southern Norway.
The tra

Morrow Batteries, Nordic Batteries and Eldrift join forces to build Norwegian battery supply-chain

Morrow Batteries, Nordic Batteries and Eldrift join forces to build Norwegian battery supply-chain

Morrow Batteries of Arendal, Norway, announces it is entering into a strategic partnership with Nordic Batteries and Eldrift to develop complete battery packs for mobile and stationary battery energy storage solutions (BESS). The overall project and product pipeline amounts to 7 GWh until 2030.
The three Norwegian companies will comprise a large part of the battery systems supply chain. Morro

Dr. Rahul Fotedar of Morrow Batteries and Mr. Jan Böbel of Gamma Technologies last week in Arendal, Norway.

Morrow Batteries partners with Gamma Technologies on the virtualisation of cell development

Morrow Batteries (Morrow) partners with Gamma Technologies (GT), a leading multi-physics systems simulation software provider. GT’s industry-preferred electrochemical models will be used for physics-based digital twin simulations of Morrow’s battery cells.
“This is a milestone for Morrow Batteries, enabling us to accelerate our battery cell technology development. GT’s innovative technology re

Electric truck transporting equipment from the Port of Arendal to Morrow Cell Factory.

New milestone reached as Morrow Batteries installs dry room at Morrow Cell Factory

Morrow Batteries ("Morrow") is approaching the next important milestone: On 21 August, the cell factory building will be ready to install the dry room. This sealed, airtight chamber ensures a dry and clean environment needed to develop the world’s most sustainable batteries.
“The company is growing fast, and so is the battery cell factory that is rapidly rising in Arendal. With our team of con

Morrow Batteries aim to realise the first prismatic LNMO battery cell in the world early 2024

Morrow Batteries aim to realise the first prismatic LNMO battery cell in the world early 2024

Morrow Batteries (“Morrow”) is proud to announce that it expects to produce the first next-generation LNMO-X batteries at its Customer Qualification Line during Q1 2024. The cell is a world-first with the configuration of this material.
Lithium Nickel Manganese Oxide (LNMO) technology replaces cobalt with cheap and abundant manganese as a scaffold to better use the lithium and nickel inside the

Morrow Batteries and Siemens strengthen collaboration to automate and optimise battery production

Morrow Batteries and Siemens strengthen collaboration to automate and optimise battery production

Morrow Batteries ("Morrow") has entered into a preferred supplier agreement with Siemens to optimise and automate its battery production, ensuring leading process control and top-of-class battery quality.
“Extreme precision is critical to achieving the quality needed to succeed in battery production. Automating as many processes as possible with cutting-edge technology from Siemens is needed to

Morrow Cell Factory in early July 2023

Morrow Batteries and Veidekke partner to build first fully re-usable factory building

Morrow Batteries, the industrial battery technology company, are joining forces with Veidekke, Norway’s leading construction company, to build a factory that can be dismantled and fully re-used and re-purposed in the future.
“At Morrow, we are on a mission to speed up the energy transition with cost-effective and sustainable batteries. To get there, we are determined to build environmentally so

The Morrow CQL in Chungju-si, Korea

Morrow Batteries achieves yield of 86 per cent from Customer Qualification Line in Korea in four months

Morrow Batteries ASA (Morrow) is announcing it has achieved stable production of battery cells at its Customer Qualification Line (CQL) in South Korea with a yield of 86 per cent. According to industry standards, the average yield is at 70% yield in the beginning, then moves up to 88-92% in the first two years of production. "Achieving 86% in four months suggests high efficiency and effectiveness

Gaole Qian and Surabhi Gupta - both scientists at Morrow Batteries cuts the red ribbon at the opening ceremony

Morrow Batteries opens Norway’s largest battery research centre in Southern Norway

Morrow Batteries today inaugurates its battery research and innovation hub, the Morrow Research Centre, in Grimstad, Norway.
The centre is at the University of Agder's Campus in Grimstad, spanning 2,000 square meters of high-tech lab space and another 1,700 square meters of modern office space. It will house most of Morrow’s research activities and the development of Morrow Batteries' next-gene

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

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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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