The board of Morrow Batteries ASA has resolved to file for bankruptcy proceedings. The same decision was made for the subsidiaries Morrow Technologies AS and Morrow Industrialization Center AS. According to the company, it was unable to secure additional time to complete ongoing talks with potential industrial investors and financing partners.
Arendal battery plant
Morrow was founded in 2020 and opened Norway’s first battery cell factory in Arendal in 2024. The facility was designed for LFP cells and had a planned annual capacity of around 1 GWh. Reuters previously reported that Morrow planned three additional factories by 2029, each with 14 GWh of annual capacity.
Funding and impact
The company received a NOK 1.5 billion loan from Innovation Norway in 2024. According to Norwegian media, around 210 employees are affected by the bankruptcy.
Challenging market conditions
The company cited difficult market conditions, financing challenges, and broader pressures in the European battery industry. Morrow Batteries had been working on establishing battery cell production capacity in Norway.
Source:
Morrow
