Norway's Morrow Batteries opens factory, plans first deliveries by year-end
Corrects name of CEO in fourth paragraph to Lars Christian Bacher from Christian Bacher
By Nora Buli
ARENDAL, Norway, Aug 16 (Reuters) -Battery start-up Morrow on Friday opened Norway's first battery cell production site on the country's south coast, with plans to deliver the first units by the end of the year and adding more production step by step.
Battery cell production is one new industry Norway is keen to enter, hoping to benefit from access to green power and proximity to European customers keen to source batteries away from China.
Founded in 2020, Morrow Batteries will initially use existing lithium iron phosphate (LFP) technology and its plant in Arendal, southern Norway, is Europe's first gigawatt LFP factory.
"The important thing is for us to start selling batteries closer to the year end," CEO Lars Christian Bacher told Reuters.
The company has secured a delivery agreement for 5.5 gigawatt hours (GWh) over seven years with Nordic Batteries, which builds customised storage solutions.
The first months will be spent tweaking the process, improving quality and get to a stable production of battery cells, he added.
"I'd rather have problems when you are in the process of starting up than having problems two years down the road when you are into stable production," Bacher said.
Each of Morrow's cells has a capacity of 340 watt hours and weighs 2 kilograms, with the factory's 1 gigawatt hour annual output equating to some 3 million units.
This would be enough to equip 20,000 smaller electric cars, which typically have a battery capacity of 50 kilowatt hours (kWh), Andreas Maier, Morrow's chief operating officer, said.
However, offtake agreements with car manufacturers are not yet on the cards, with initial production volumes too small, CEO Bacher said.
"It will take years for us to qualify for selling batteries to an automotive company."
Still, Morrow plans to expand production step by step with three more facilities at the Arendal site by 2029, which will have an annual capacity of 14 GWh each.
Early investors in Morrow include local utility A Energi, engineering firms ABB and Siemens, Danish pension funds PKA and Norwegian state-owned green investment firm Nysnoe.
Reporting by Nora Buli; editing by David Evans
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
