Morrow Batteries

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.

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

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

• Lithium iron phosphate batteries
• Battery cell manufacturing
• Energy storage systems
• LNMO battery technology
• Battery gigafactory

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Infrastructure, Supply Chain, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. 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

Core 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

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered major, core and supporting.

• Nordic BatteriesmajorStrategic or Co-development Partner · 17 April 2026Defense 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 or Co-development Partner · 11 March 2026Strategic 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 RecyclingcoreStrategic or Co-development Partner · 27 February 2024Partnership 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.
• BellonasupportingStrategic or Co-development Partner · 7 December 2023Environmental foundation partnership to develop best practices for sustainable battery materials and production. Collaborative effort to advance green battery technology.
• University of AgdercoreStrategic or Co-development Partner · 9 June 2023Host 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.
• OptimeeringsupportingTechnology or Integration · 9 February 2023MoU 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 ASsupportingImplementation/ SI/ Consulting Partner · 11 January 2023Logistics services agreement for delivery of production equipment to battery cell factory through Eydehavn Port of Arendal. Sea freight combined with integrated European logistics solution.
• CompularsupportingTechnology or Integration · 8 December 2022Joint 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 InformaticssupportingTechnology or Integration · 14 November 2022Partnership 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

Direct 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

• LinkedInno.linkedin.com/company/morrow-batteries
• Instagraminstagram.com/morrowbatteries/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Morrow Batteries