Morrow Batteries (Morrow) and Eldrift have agreed to establish a long-term supply of batteries for Eldrift's battery energy storage solutions. This partnership further strengthens Norway's position as a hub for Europe's battery and energy storage industry. Press Release
Under the non-binding offtake agreement, Eldrift has committed to purchasing 1.5 GWh of Morrow's batteries starting in 2024, when Morrow starts industrial-scale production at the first battery factory in Arendal.
The Memorandum of Understanding (MoU) between the two companies will support the enhancement of existing LFP battery chemistry and battery energy storage technologies critical to achieving a carbon-neutral economy.
"We are excited to partner with a battery energy storage company on the rise as we continue to develop our unique battery technology," said Lars Christian Bacher, CEO of Morrow Batteries. "This collaboration will provide access to our cutting-edge battery technology and create new opportunities for innovation and growth in the energy sector – from Norway to Europe", he adds.
"We look forward to cooperating with Morrow and their specialists from all over the world. Powered by Norwegian renewable energy, and responsibly sourced materials, we join forces to provide the most sustainable solutions to the market," said Jon Arne Hammersmark, CEO of Eldrift. "This agreement is an important step towards meeting the growing demand for sustainable energy storage solutions and achieving our long-term goal of a world powered by renewable energy."
The MoU between Morrow Batteries and Eldrift further builds on the solid foundation established in Norway's battery industry. The partnership is a significant milestone in the country's efforts to become the leading European battery supply chain player.