Eldrift Signed A 1.5GWh Lithium Iron Phosphate Battery Purchase Agreement With Morrow Batteries

Norwegian battery producer Morrow Batteries has signed a non-binding purchase agreement with battery energy storage integrator Eldrift to purchase 1.5GWh of lithium iron phosphate (LFP) batteries from Morrow Batteries.

Morrow Batteries CEO Lars Christian Bacher and Eldrift CEO Jon Anders Hammersmark sign the agreement

Under the agreement, Eldrift has committed to purchase 1.5GWh of batteries produced at Morrow Batteries' superfactory starting in 2024.

Morrow Batteries is building a lithium iron phosphate (LFP) battery production plant in Arendal, Norway, with a first phase capacity of 1GWh per year. , plans to increase the annual production capacity to 43GWh by 2028 (the second phase).

Lars Christian Bacher, CEO of Morrow Batteries, said, “We are delighted to be working with an emerging battery storage provider as we continue to develop and produce this unique battery product.”

The company has said in the past that its main target is the electric vehicle market rather than energy storage systems, so Eldrift was its first announced partner to offtake its batteries.

Norway-based battery producer Freyr Battery has also begun to enter the country's battery storage market. In an interview with industry media last year, the company announced partnerships with energy storage system integrators such as Powin Corp. Reach more offtake agreements.

In August 2022, Morrow Batteries signed an agreement with the Norwegian Industrial Development Corporation (SIVA) to start construction work on the production plant, while in February 2022 the company received NOK 25 million (230 million) from the Norwegian government. million dollars) in grants.

Morrow Batteries will also cooperate with Li-Cycle, a North American lithium-ion battery recycler, and plans to build a lithium-ion battery recycling plant in Norway.

Norway's Eldrift is a newly established company, a subsidiary of NMI Holding, which mainly provides mobile charging solutions and user-side battery energy storage systems for electric vehicles.