Tech Company Financing Transactions
Morrow Batteries Funding Round
Morrow Batteries, based in Oslo, secured $74.1 million from ABB Technology Ventures, Agder Energi Venture and Maj Invest.
Transaction Overview
Company Name
Announced On
9/28/2023
Transaction Type
Venture Equity
Amount
$74,106,000
Round
Undisclosed
Investors
Proceeds Purpose
The company intends to use the funds to continue its development of sustainable batteries and support continued growth and the construction of the Morrow Industrialization Center on the Battery Coast of Southern Norway. Commencement of production at the company's first GWh cell factory in Arendal is anticipated early next year, and the project has garnered significant interest.
Company Information
Company Status
Private & Independent
Industry
Energy & Battery
Mailing Address
Dronning Eufemiasgate 8
Oslo, 0191
NO
Oslo, 0191
NO
Phone
Undisclosed
Website
Email Address
Overview
The climate crisis is at a tipping point as our planet is fast approaching an irreversible climate breakdown. If we do not act now, the world as it stands is heading towards a 3 degree increase rather than the critical 1,5 degree goal. There are solutions to our climate crisis. Decarbonisation, electrification and sustainable energy systems. But these pathways need to be enabled now - at industrial scale and with unprecedented speed. At Morrow, scientific problem solvers are coming together -- delivering the batteries we need today and developing the batteries of tomorrow. We are experts from all walks of life. What unites us is the future we are building. A future powered by cost-effective and sustainable batteries.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Lars Bacher
Chief Financial Officer
Dagfinn Lie
Chief Operating Officer
Andreas Maier
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