The man who led the development of the world’s first gigafactory for the world’s leading electric vehicle manufacturer is joining forces with Elinor Batteries. The partnership with Morlus Technology will accelerate the development of Elinor’s battery manufacturing facility in Orkland, Norway.

Based in central Norway, Elinor Batteries has entered into a collaboration agreement with Chinese company Morlus Technology. The partnership will provide the company with access to cutting-edge battery technologies and advanced expertise in plant construction. Through this alliance, Elinor plans to market its batteries on the European market as early as spring 2025.

“We are delighted that world-renowned battery experts have chosen to collaborate with us. This level of expertise is currently non-existent in Europe and is essential for our plans to create a battery value chain in the Nordic region,” said Arne Fredrik Lånke, CEO of Elinor Batteries.

Morlus founder Shen Xi has been a key player in battery industry innovation and technology for over 20 years, including leading battery design, planning and plant construction for BYD, the world’s largest supplier of electric vehicles and a leading battery company. Shen oversaw the design and construction of China’s first battery manufacturing plant, with a capacity of over 10 GWh, and the development of the first lithium iron phosphate (LFP) battery for electric vehicles.

At Morlus, Mr. Shen has successfully built a world-class team, positioning the company at the forefront of lithium battery technology development. The agreement between Morlus and Elinor includes product development, production and plant construction. Elinor Batteries plans to launch products on order this fall. Together, Elinor Batteries and Morlus intend to become leaders in the European market. The deal will accelerate plans to build the Orkland battery gigafactory, with an investment decision expected by 2025.

Lars Helge Helvig, a renewable energy investor, is the owner of the investment company Valinor, which holds the majority of Elinor shares. Mr Helvig believes that this is the ideal time to invest in Norwegian batteries. The battery market is booming, and Europe is striving to achieve self-sufficiency in this area. According to the IEA, new energy storage systems are essential to achieve 60% of the required emission reductions in the energy sector by 2030. Today, batteries are the fastest growing energy technology in the world. Lars Helge Helvig, a renewable energy investor, is the owner of the investment company Valinor, which holds the majority of Elinor shares. Mr Helvig believes that this is the ideal time to invest in Norwegian batteries.

“The battery market is booming, and Europe is striving to achieve self-sufficiency in this area. According to the IEA, new energy storage systems are essential to achieve 60% of the required emission reductions in the energy sector by 2030. Today, batteries are the fastest growing energy technology in the world.”

Founded by Valinor, Elinor is a Norwegian company specializing in the production of sustainable and competitive batteries for the Bulk Energy Storage Systems (BESS) market. Located in Trondheim, the company plans to build a giant factory on the Eiktyr industrial site in the municipality of Orkland.

Morlus has developed an industry-leading battery portfolio and has strong expertise in battery research, development and production. Its major shareholders include, in addition to the founders and employees, Gongniu Electrics/Bull Electrics, Zhengxuan Investment and China-Singapore Suzhou Industrial Park Development Group. The company holds over 70 patents and has factories in Nantong and a development center in Shenzhen. The text of the press release resulting from a translation should in no way be considered official. The only version of the press release that is authoritative is that of the press release in its original language.

 

Source: businesswire.com

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