U.S. battery manufacturer Lyten is the preferred bidder for the business of insolvent Norwegian battery company Morrow Batteries. On August 21, 2026, the bankruptcy estates and creditor Innovation Norway signed a memorandum of understanding with Lyten. On May 6, 2026, the Agder District Court opened bankruptcy proceedings for the three Morrow companies.
The proceedings involve Morrow Batteries ASA, Morrow Technologies AS, and Morrow Industrialization Center AS. The proposed transaction is structured as an asset sale intended to keep the business operating. However, the transaction has not yet been finalized.
Sale Intended to Keep Morrow Batteries Operating
The agreement followed a bidding process involving several interested parties. After negotiations with multiple bidders, Lyten was selected as the preferred bidder. According to Innovation Norway, factors included the expected financial recovery and the feasibility of completing the transaction. Final transaction documents still need to be agreed upon.
Lyten Evaluates Industrial Hub in Arendal
Lyten is currently evaluating how the facilities in Arendal could be used in the future. The company is considering establishing what it calls an Industrial Hub at the site. This could include battery manufacturing and other activities along the energy storage value chain. Lyten has also identified potential applications related to data centers, mobility, and defense.
Source:
https://svw.no/lyten-selected-as-preferred-bidder-for-morrow-batteries-business/
