Morrow Batteries
Morrow Batteries ASA was a Norwegian battery cell manufacturer founded in 2020 that produced LFP and next-generation LNMO-X cells for energy storage, commercial mobility, maritime, and defense customers from its 1 GWh Arendal factory before filing for bankruptcy in May 2025.
- Company typePrivate
- Founded2020
- HeadquartersOslo, Norway
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Morrow Batteries does
Morrow Batteries ASA was a Norwegian industrial battery cell manufacturer founded in 2020 and headquartered in Arendal, with operations across Southern Norway, a sales office in Hannover, Germany, and a Customer Qualification Line in South Korea. The company developed and manufactured two battery cell platforms: commercial Lithium Iron Phosphate (LFP) cells targeting energy storage systems, commercial vehicles, maritime, and mobility applications, and a proprietary next-generation LNMO-X (lithium nickel manganese oxide) chemistry as a cobalt-free alternative targeting 8,000 cycle life and a 5 kg CO2 eq./kWh carbon footprint, supported by a Morrow Research Centre at the University of Agder campus in Grimstad.
The business model centered on direct enterprise sales of battery cells through long-cycle offtake agreements and joint development partnerships with major OEMs, defense integrators, and energy storage providers. Backed by industrial and strategic investors led by Siemens Financial Services and ABB, the company raised over NOK 3.3 billion in equity and convertibles plus NOK 550 million in Innovation Norway loans to build Norway's first GWh-scale battery factory (1 GWh initial capacity, scaling toward a planned 43 GWh across three Eyde Energy Park modules by 2028) and to vertically integrate Cathode Active Material production on-site.
The company entered commercial LFP deliveries in 2024–2025, secured its first defense contract, and signed a strategic electrode-foundry MoU with JR Energy Solution in March 2026, but filed for bankruptcy at Agder District Court in May 2025 with reported debt of NOK 2.2 billion, total financial exposure exceeding NOK 5 billion, and the Norwegian state through Innovation Norway as the largest creditor. Cited causes included intensified global competition, Chinese price pressure, rising capital costs, and industrialization delays.
Morrow Batteries firmographics
Firmographics- Name
- Morrow Batteries
- Legal name
- Morrow Batteries ASA
- Website
- https://morrowbatteries.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Closed
- Headcount range
- 101–250 employees
- Short description
- Morrow Batteries ASA was a Norwegian battery cell manufacturer founded in 2020 that produced LFP and next-generation LNMO-X cells for energy storage, commercial mobility, maritime, and defense customers from its 1 GWh Arendal factory before filing for bankruptcy in May 2025.
- Ownership category
- akta.pro rank
Morrow Batteries industry classification
Industry- Product category
- Battery Cell Manufacturing
- NAICS
- Battery Manufacturing (33591)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600)
- akta.pro primary industry
- Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA)
Keywords
Where Morrow Batteries is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices5 records
Markets served
Morrow Batteries business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Infrastructure, Supply Chain, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Battery Cell Sales: Sale of LFP and LNMO battery cells for energy storage systems, commercial vehicles, maritime industry, and defense applications. Production capacity planned to reach 43 GWh annually by 2028.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Morrow Batteries product offering
Product offeringCore offering
Morrow Batteries develops and manufactures LFP (Lithium Iron Phosphate) and next-generation LNMO-X lithium-ion battery cells for energy storage systems, commercial mobility, maritime, and defense applications. The company operates Norway's first GWh-scale battery cell factory at Eyde Energy Park in Arendal, with planned expansion to 43 GWh annual capacity by 2028 across three Eyde gigafactory modules. All manufacturing is powered by 100% renewable Norwegian hydroelectricity, targeting a 5 kg CO2 eq./kWh carbon footprint.
Product overview
Morrow Batteries is an industrial battery technology company developing and manufacturing battery cells for energy storage systems, commercial mobility, and industrial applications. The product portfolio includes two main battery chemistry platforms: (1) LFP (Lithium Iron Phosphate) batteries for immediate commercial availability, and (2) next-generation LNMO-X and LNMO-C batteries that replace cobalt with abundant manganese while reducing nickel and lithium content. Manufacturing infrastructure includes the Morrow Cell Factory (1 GWh initial capacity), three planned Eyde gigafactory modules (14 GWh each, targeting 43 GWh total by 2028), the Morrow Research Centre for R&D in Grimstad, a Customer Qualification Line in South Korea for technology validation, and planned Cathode Active Material plants. The company operates from Southern Norway using 100% renewable hydroelectric power for sustainable battery production.
Differentiator
Problem solved
Functional benefit
Products and services
- LFP (Lithium Iron Phosphate) Batteries Commercial LFP batteries manufactured at the Morrow Cell Factory for energy storage systems, commercial vehicles, maritime industry, and mobility applications. LFP technology provides industry-leading safety, long cycle life, and low carbon footprint, and is powered by 100% renewable Norwegian hydropower.
- LNMO-X Batteries Next-generation lithium nickel manganese oxide batteries that replace cobalt with abundant manganese, reduce nickel and lithium content, and maximize use of clean manganese. Designed for 8,000 cycles with targets for 15,000 cycles, targeting 5 kg CO2 eq./kWh carbon footprint and 100% supply chain traceability by 2030.
- LNMO-C Batteries Second-generation LNMO battery variant developed alongside LNMO-X as part of Morrow's dual battery development strategy targeting cobalt-free manganese-based chemistries.
Quantifiable outcome
- 43 GWh annual production capacity planned by 2028
- +4 more outcomes
Companies that use Morrow Batteries
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Morrow Batteries technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Morrow Batteries partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered major, core and supporting.
- Nordic BatteriesmajorDefense battery partnership where Morrow cells were integrated into systems deployed during NATO exercises in Northern Norway. Cells proved reliable performance under extreme Arctic conditions at NATO's Heimdal test arena.
- JR Energy SolutioncoreStrategic MoU signed at InterBattery Korea 2026 to establish high-performance electrode foundry services in Europe. Combines Morrow's 1 GWh manufacturing infrastructure with JRES's electrode foundry model and scaling expertise to create a scalable European hub for foundry-ready electrode solutions.
- Stena RecyclingcorePartnership to build circular battery value chains. Stena Recycling handles battery production scrap from Morrow Cell Factory in Arendal at their facility in Halmstad, Sweden. Goal is to build complete circular value chain using recycled material in new battery cell production.
- BellonasupportingEnvironmental foundation partnership to develop best practices for sustainable battery materials and production. Collaborative effort to advance green battery technology.
- University of AgdercoreHost institution for Morrow Research Centre at campus in Grimstad. Joint PhD projects and collaboration on battery innovation hub. Partnership with 40 researchers from 20+ nationalities.
- OptimeeringsupportingMoU with Norwegian AI startup to develop AI-driven automation software for short-term power market operations. Supports optimization of battery production alignment with power consumption.
- Rhenus Norway ASsupportingLogistics services agreement for delivery of production equipment to battery cell factory through Eydehavn Port of Arendal. Sea freight combined with integrated European logistics solution.
- CompularsupportingJoint Development Agreement for computational screening of novel electrolyte formulations for high-voltage batteries. Uses Compular's algorithm with Morrow's LNMO-based batteries to accelerate cobalt-free battery development.
- Citrine InformaticssupportingPartnership to utilize Citrine Platform for Materials Informatics and AI-guided battery development. Accelerates high-performance sustainable battery technology development using artificial intelligence.
Scale indicators13 records
Recent moves6 records
Expansion highlights5 records
Morrow Batteries competitors and assessment
Company assessmentDirect peers
- Verkor: French battery cell manufacturer building a gigafactory in Dunkirk for premium EVs and ESS. European LFP-adjacent peer with similar capex-heavy scale-up profile and automotive OEM customer strategy.
- Northvolt: Swedish LFP and NMC battery cell manufacturer building gigafactories in Europe for EVs and ESS. Direct peer to Morrow in chemistry, geography, target markets, and customer profile; also filed for Chapter 11 bankruptcy in 2024–2025 amid similar overcapacity and industrialization challenges.
- ACC (Automotive Cells Company): Stellantis/Mercedes/TotalEnergies-backed European battery gigafactory venture. Direct peer in serving European automotive OEMs with LFP/NMC cells and competing for the same EU policy support.
- Freyr Battery: Norway-headquartered LFP battery cell developer targeting ESS and EV mobility. Closest geographic peer to Morrow with overlapping Norwegian investor base, gigafactory ambitions, and ESS/BESS go-to-market.
- Britishvolt: UK battery startup that collapsed in early 2023 amid funding shortfalls during industrialization. Structurally analogous to Morrow's failure path — European LFP entrant that did not survive the capex-to-revenue gap.
- AESC: Global battery manufacturer operating European gigafactories (UK, Spain) with LFP and NMC chemistries for EVs and ESS. Direct competitive peer in European LFP gigafactory economics.
Emerging players
- PowerCo (Volkswagen Group): Volkswagen's in-house battery unit building gigafactories across Europe. Competes for the same OEM cell supply contracts that Morrow targeted with major global automotive OEMs.
Broad incumbents
- CATL: World's largest battery cell manufacturer and the principal price-setter whose European expansion and pricing strategy was cited in Morrow's bankruptcy filing as a core cause of value destruction.
- LG Energy Solution: Global top-3 Li-ion cell manufacturer with LFP and NMC products for ESS, mobility, and defense. Established incumbent competing head-to-head with Morrow in European BESS and automotive OEM channels.
- Samsung SDI: Global battery incumbent (Morrow's former CCO held a Key Account role there). Competes in the same automotive and ESS cell markets and represents both a competitor and a potential acquirer profile.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Morrow Batteries social profiles
Digital presenceMorrow Batteries financial estimates
Financial estimateRevenue estimate
Valuation estimate
Morrow Batteries leadership team
Management profileNumber of profiles
Profiles15 records
Morrow Batteries subsidiaries and ownership
Company hierarchySubsidiaries2 records
Morrow Batteries funding detail
Funding detailFunding overview
Funding rounds3 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Morrow Batteries M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Morrow Batteries
What does Morrow Batteries do?
Morrow Batteries develops and manufactures LFP (Lithium Iron Phosphate) and next-generation LNMO-X lithium-ion battery cells for energy storage systems, commercial mobility, maritime, and defense applications. The company operates Norway's first GWh-scale battery cell factory at Eyde Energy Park in Arendal, with planned expansion to 43 GWh annual capacity by 2028 across three Eyde gigafactory modules. All manufacturing is powered by 100% renewable Norwegian hydroelectricity, targeting a 5 kg CO2 eq./kWh carbon footprint.
Is Morrow Batteries a public or private company?
Morrow Batteries is a private company. It is classified as venture growth investor backed and is currently closed.
When was Morrow Batteries founded?
Morrow Batteries was founded in 2020. It employs 101 to 250 people.
Where is Morrow Batteries based?
Morrow Batteries is headquartered in Oslo, Norway, in the Europe region.
How does Morrow Batteries make money?
One revenue line is on record: battery Cell Sales.
Who are Morrow Batteries's main competitors?
Direct peers on record are Verkor, Northvolt, ACC (Automotive Cells Company), Freyr Battery, Britishvolt and AESC. PowerCo (Volkswagen Group) is listed as an emerging player. Broad incumbents are CATL, LG Energy Solution and Samsung SDI.
Does Morrow Batteries have an API?
No public API is recorded for Morrow Batteries.
What industry is Morrow Batteries in?
Morrow Batteries's product category is Battery Cell Manufacturing. Its primary akta.pro industry code is IMAGAHAA, Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH). Its NAICS code is 33591 and its SIC code is 3600.