Morrow Batteries is starting development of a large-scale factory in Norway, where it will benefit from some of the lowest electricity prices in the world.
The Nordic region, with its abundance of cheap and clean hydro power, could emerge as a European hub for the key technologies needed to electrify everything from transport to heavy industry. Closely held Morrow, where investors include utility Agder Energi AS, plans a pilot plant for batteries before building a bigger factory later this decade.
Later this year, Morrow plans to begin construction on an “industrialization center” that will include the pilot as well as research facilities for recycling, innovation and materials, it said in a statement Monday. The facility will be based near Arendal in southern Norway.
“The region has all possible prerequisites for taking an international position when it comes to the value chain of batteries,” said Terje Andersen, chief executive officer at Morrow Batteries. “Southern Norway, or the battery coast, is simply a Kinder egg, with a surplus of renewable energy, necessary raw materials and a location close to the European markets.”