Investor Relations

Morrow Batteries ASA - an industrial battery technology company scaling up to 43 GWh production capacity in Southern Norway – is on a mission to develop and deliver cost-effective and sustainable batteries.

(Overview)

Why Morrow?

This is why Morrow is well-positioned to be a battery industry leader:

Immense market opportunity:

Strong demand growth supported by global megatrends. Morrow has robust commercial traction, including signed joint development agreement withmajor global automotive OEM.

Significantly de-risked manufacturing scale-up:

Strong base for building a battery manufacturing platform primed for further growth. Validation and support from strong industrial owners.

Setting new standards on sustainability:

Aiming for best-in-class carbon footprint. Manufacturing with 100% renewable energy and sustainable battery technology roadmap.

Proprietary innovation and
technology capabilities:

Strong in-house technology team and significant investments in research, development and industrialisation of next generation batteries.

Clear path to profitability:

Aiming for cost-competitiveness based on high yield, automation, high utilisation and scale. Balanced portfolio of products with significant upside potential.
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Industrial Updates

Corporate
Governance

We have a system of rules, practices, and processes by which Morrow Batteries is directed and controlled. This is essential to maintain transparency, accountability, and ethical behaviour in our growing organisation.
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Impact

At Morrow, we are moving rapidly towards mass production of sustainable batteries. We will utilise 100 % clean energy in our battery cell production and target significant CO2 reductions in our supply chain. We will also become increasingly circular as we allow for the use of production scrap and secondary raw materials into battery cell production. Through partnerships, we will enable the collection of used batteries for further recycling or re-use.
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Ownership

We are backed by blue-chip owners with industrial and strategic focus.

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(Our people)

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Leadership

Our leaders from international industries, technology & R&D ensures we remain at the forefront of innovation and excellence.

Lars Christian Bacher
Chief Executive Officer (CEO)

Lars Christian Bacher became CEO of Morrow on 1 December 2022. Bacher previously held a position as senior partner at the private equity firm Hitec Vision, following a 30-year career in the global energy company Equinor ASA, including eight years as Executive Vice President of Development and Production International and as Chief Financial Officer. Bacher holds master's degrees from the Norwegian School of Economics (NHH) and the Norwegian University of Science and Technology (NTNU).

Dr. Andreas Maier
Chief Operations Officer (COO)

Dr. Andreas Maier joined Morrow in April 2021 and was appointed as COO in April 2022. Dr. Maier has solid experience in battery manufacturing from Samsung SDI. At Samsung, as VP of Quality, he oversaw the quality of cell production in Korea, China, and Hungary. He holds a MBA from IMD in Switzerland and a Ph.D. in mechanical engineering from the University of Sunderland in the UK. In addition, he has worked as a consultant for McKinsey, developing operations and market strategies for leading automotive OEMs in China and Korea. He also managed the build-up of a large-scale production facility with Hyundai Mobis in Korea.

Asta Stenhagen
General Counsel and Head of Legal & Compliance

Asta Stenhagen joined Morrow in April 2022 as the General Counsel and Head of Legal & Compliance, bringing with her over two decades of legal, finance, and operational experience from her previous roles at Tietoevry, Wilhelmsen Group, and lawfirm Thommesen, as well as various board positions. Prior to joining Morrow, she served as the General Counsel and Head of Legal, Security and Compliance at Tietoevry, Executive Vice President of Legal and Risk at EVRY, and Legal Counsel at Wilh. Wilhelmsen Holding ASA. Stenhagen holds a Cand. Law Degree from the University of Oslo (UiO), including legal subject matters from University of Århus (Denmark) and project management from UiO.

Christin-Marie Boudgoust
Chief Commercial Officer

Christin-Marie Boudgoust joined Morrow in January 2024 and currently serves as Chief Commercial Officer. She brings with her a wealth of experience and a strong track record in the commercial business area. Prior to  joining our team, Christin-Marie served as the Director of Business Development Battery Systems at Webasto. She has also held key positions, including Key Account Manager in the EV field at Samsung SDI and General Manager at DBK Heaters Trading (SH) Co Ltd, where she successfully established a Chinese subsidiary in Shanghai/China.Christin-Marie is leading our commercial business area, overseeing the Sales area as well as both the Business Development and the Technical Sales support teams.Christin-Marie holds a Diploma in Business Administration from the Cooperative State University Karlsruhe/ Germany.

Elisabeth Meidel
Director of People & Culture

Elisabeth Meidel joined Morrow in October 2021 and currently serves as the Director of People & Culture, bringing with her over two decades of HR experience gained from her previous roles at EY, Accenture, and Gard. Prior to joining Morrow, she held the position of HR Team Lead at the Gard group and served as Recruitment Lead at Accenture. Elisabeth has studied Teamwork and Leadership, as well as Applied Organisational Psychology at BI Norwegian School of Economics. Additionally, she holds a university degree in mercantile German and international trade from Østfold University College.

Jon Fold von Bülow
Co-Founder & Chief Science Officer

Jon Fold von Bülow is one of the Co-Founders of Morrow and serves as Chief Science Officer. With over a decade of experience in the battery industry, Jon has held various roles in research, development, and management. Before Morrow, Jon lead the development of innovative cathode active materials for lithium and sodium ion energy storage applications at Topsoe. During this time, he was involved in setting up battery research labs in Denmark, Germany, and China. Jon holds a Master of Science degree in Nanotechnology from the University of Copenhagen and has conducted most of his academic work on Li-ion batteries at the University of California Santa Barbara at the UCSBMIT-Caltech Institute for Collaborative Biotechnologies (ICB).

Naja Boone
Director of Marketing & Communications

Naja Boone joined Morrow Batteries in August 2022 and currently serves as Marketing & Communications Director. Boone has extensive B2B experience, first as a consultant for Statoil (now Equinor), then as Head of Communications for Wilhelmsen Ships Service, and as Global Head of Marketing & Communications for Wallenius Wilhelmsen. She has been responsible for strategic brand management, corporate communications, digital B2B marketing, employee engagement, and crisis management through her leadership roles. She has also worked for agencies Hill+Knowlton Strategies and Scandinavian Design Group in Oslo and Sigel+Gale in New York. Naja holds a BA in Public Relations from BI Norwegian Business School.

Nina Hunsager Framås
Director of Strategy & Corporate Development

Nina Hunsager Framås joined Morrow in April 2021 and currently serves as Director of Strategy & Corporate Development. Bringing with her over 10 years of experience in management consulting, Framås' proficiency lies in the areas of strategy development, business improvement, and operational optimisation, with a particular focus on the automotive and retail sectors. Nina holds a Master of Science in Business and Economics (Siviløkonom) from BI Norwegian School of Economics.

Pål Brun
EVP Corporate Affairs & Sustainability and Co-Founder

Pål Brun is one of the Co-Founders of Morrow and currently serves as EVP of Corporate Affairs & Sustainability. Brun has more than 20 years of experience in management consulting, green technology investments, and politics. He has worked with organisations such as EY, PwC, Otovo, and Oslo Municipality. Additionally, Pål Brun served as the former Head of Climate Change and Sustainability Services at EY and PwC. Brun holds a Master of Law from the University of Oslo and has attended the Venture Capital Executive Program at Haas School of Business, University of California, Berkeley.

Dr. Rahul Fotedar
CTO & Co-Founder

Dr. Rahul Fotedar is one of the Co-Founders and currently serves as the Chief Technology Officer (CTO) at Morrow. Dr. Fotedar's expertise in advanced battery technology has been honed through over 15 years of experience, including his work as an expert at Hilti Corporation. Through his career, he has gained a deep understanding of battery technology's unique challenges and opportunities. Rahul holds a Masters's degree in chemistry from TU München and a PhD specialising in battery materials from ETH Zürich.

Dr. Ronny Glöckner
Head of Development

Dr. Ronny Glöckner joined the company in March 2022 serving as Head of Development. Dr. Glöckner has 25 years of experience in research, process, and product development from the solar industry in Norway. He has also worked for the Institute for Energy Technology (IFE), where he built up a department on Hydrogen Energy Systems and achieved a research director position for their Hydrogen Energy program. His roles span from research scientist, and research director to product development lead. In 2022 he was honored with Elkem's national innovation award for initiating and developing the process that led to the first-of-its-kind industrialisation of a 100% circular process for the production of solar-grade silicon. Ronny holds a Ph.D. in materials science from the University of Oslo.

Steffen Føreid
Chief Financial Officer (CFO)

Steffen Føreid is a seasoned CFO with broad international capital markets and public company experience. He has a proven track record of serving startup, growth, and declining businesses in energy and maritime industries and implementing financing strategy supporting multi-billion USD growth and expansion. Previously, Mr. Føreid served as CFO at Gen2 Energy AS, Freyr Battery SA, and Höegh LNG Holdings Ltd and as Director and CEO/CFO at Höegh LNG Partners LP. He holds a Liz.rer.pol. degree in Finance and Business Administration from Université de Fribourg in Switzerland.

Stina Torjesen
Director of Sustainability

Stina Torjesen joined Morrow in June 2022 and has worked on sustainability related issues for over a decade as a consultant and through teaching and research. She is a specialist on national, European and global battery policies and chaired a work package on European battery policies in a major Norwegian research project (BATMAN) prior to joining Morrow. Stina holds a BA (Hons) from the University of Cambridge and an MPhil and DPhil from the University of Oxford. She maintains a part-time position as Assoicate Professor at the UiA School of Business and Law and worked previously with the United Nations Development Program (UNDP), the Norwegian Institute of International Affairs (Nupi) and SIGLA.

Board of Directors

Liv Monica Bargem Stubholt
Chair of the board
Tor Øystein Repstad
Director
Anders Lægreid
Director
Pedro Valle e Azevedo
Director
Atle Knudsen
Director