Press release -
Morrow Batteries ASA announces IPCEI partnership, secures funding to advance next-generation battery technology
The Norwegian battery company has been awarded 345 million NOK from Innovation Norway under the IPCEI European business program. The funding will support the R&D development of a new battery technology that utilises less lithium and nickel than current batteries combined with manganese oxide (LNMO).
Morrow Batteries ASA (Morrow) has also qualified as an associated partner in the IPCEI European Battery Innovation program (EuBatIn).
“This is a day of celebration. We are proud that Morrow Batteries meets the stringent quality requirements to become an associated partner in IPCEI European Battery Innovation. Achieving this partnership status speaks volumes about our dedication and progress”, comments Morrow CEO, Lars Christian Bacher.
He adds, “Morrow has had a strong and close collaboration with Innovation Norway both at the local and central levels. They have provided valuable input and feedback throughout the process and played a crucial role in our successful application.”
According to Bacher, the IPCEI partnership and funding hold immense significance. The battery technology and production company inaugurated Scandinavia’s largest battery research centre last year and is eager to advance its development of the promising LNMO batteries. This technology is significantly more sustainable than existing technologies, enabling Morrow to produce environmentally friendly and cost-effective batteries.
In tandem, the company has initiated test production of LFP batteries. The first customer samples were dispatched in November 2023, and Morrow is currently in discussions with potential buyers. In Arendal, they plan to commence full-scale production of LFP batteries in the third quarter, marking a crucial milestone for the company.
Sveinung Hovstad, the Regional Director for Innovation Norway in Agder, highlights the strong collaboration with Morrow Batteries since the company’s inception:
"We are committed to supporting Morrow Batteries by equipping them with the necessary resources to bolster their prospects for success in their efforts to take a leading position in the European battery industry. With Morrow's strong foundation, exceptional expertise, and environmentally friendly production practices, coupled with the enthusiastic backing of the local community, we aim to empower them on their journey".
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About IPCEI
IPCEI is a transnational project that has made an important contribution to the growth, employment, and competitiveness of the European Union industry and economy, funded by state aid. IPCEIs bring together knowledge, expertise, financial resources, and economic actors throughout the EU to overcome important market or systemic failures and societal challenges that could not otherwise be addressed.
The IPCEI European Battery Innovation (EuBatIn) is coordinated by the German Federal Ministry for Economic Affairs and Energy (BMWi) with the support of VDI/VDE-IT, encompassing more than 40 companies gathered under the European umbrella. Learn more at: IPCEI Batteries: About IPCEI (ipcei-batteries.eu)
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Morrow Batteries ASA (Morrow) is a battery technology and production company gearing to be the first Gigascale manufacturer of prismatic LFP batteries in Europe later this year. Our LFP battery has top-tier safety features, extended cycle life and a low carbon footprint. In tandem, our world-class scientists at Scandinavia's largest battery R&D centre are advancing next-generation batteries primarily based on the cathode material LNMO. These innovative batteries eliminate cobalt and reduce nickel and lithium while maximizing the use of clean and plentiful manganese. Founded in 2020 and headquartered in Arendal, Norway, the company now has a team of 160 battery specialists based in Norway and Germany. To learn more, visit morrowbatteries.com and engage with us on LinkedIn @MorrowBatteries.
