ELINOR-BATTERIES
The man who led the development of the first giga-factory for the world´s leading EV supplier, partners with Elinor Batteries. The partnership with Morlus Technology accelerates the development of Elinor’s battery manufacturing base in Orkland, Norway.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240828783500/en/
Mr. Xi Shen (front left), CEO of Morlus Technology, and Arne Fredrik Lånke (front right), CEO of Elinor, sign the partnership agreement between the two companies. Behind, from left: Dr. Xi Jiang, G.M. of Cell Development of Morlus, Dr. Rong Hao, Director of Technology Research of Morlus, Huaping Liu, V.P. and Chief Engineer of Morlus, Guanglin Wu, V.P. and CFO of Morlus, Truls Johansen, CSO of Elinor Batteries, Sofi Hildonen, EVP of Business Development, Elinor Batteries, Dr. Fengliu Lou, VP of Technology, Elinor Batteries. Photo: Elinor Batteries
Elinor Batteries in Central Norway enters a collaboration with Chinese battery company Morlus Technology. The partnership grants Elinor access to cutting-edge battery technology and world-leading expertise in factory construction and entails that Elinor will have batteries for commercial sale in the European market by the spring of 2025.
“We are honored that world-leading battery technologists have chosen to collaborate with us. This level of expertise does not currently exist in Europe, and it is crucial for our plans to establish a battery value chain in the Nordic region,” says Arne Fredrik Lånke, CEO of Elinor Batteries.
Leading expertise
The founder of Morlus, Shen Xi, has been a driving force of innovation and technology in the battery industry for over 20 years. His merits include leading battery design, factory design and construction for BYD, the world’s largest electric vehicle supplier and a top tier battery company. At BYD, Mr. Shen led the design and construction of the first battery manufacturing base in China with a capacity above 10 GWh and the design of the first LFP-battery for xEVs.
At Morlus, Mr. Shen has built a world class team that sets the company in the very forefront of lithium battery technology development. The agreement between Morlus and Elinor covers product development, production, and factory construction.
Investment Decision in 2025
Elinor Batteries aims to launch products for order as early as this fall. Together, Elinor Batteries and Morlus have set a goal of achieving a market-leading position in Europe.
The agreement will accelerate the plans for building the gigafactory for battery production in Orkland, with an investment decision targeted for 2025.
Exceptional timing
Renewable energy investor Lars Helge Helvig owns the investment company Valinor, the majority owner of Elinor. Helvig believes that the timing is exceptional for investing in batteries from Norway.
“The battery market is booming, and Europe is striving to become self-sufficient in batteries. According to the IEA, new energy storage is crucial for 60% of the emission reductions needed in the energy sector by 2030. Batteries are now the world’s fastest-growing energy technology,” Helvig explains.
Global footprint
For Morlus, the collaboration with Elinor Batteries represents an opportunity to grow its global footprint.
“Norway is the country with the highest proportion of renewable energy globally, and it has a strong industrial foundation. Both will enable us to produce a green and low-carbon battery, which is unique,” says Shen Xi.
“The Elinor team has demonstrated exceptional professionalism, efficiency, and immense passion for the work they will undertake. Coupled with their investor Valinor’s rich experience in the renewable energy sector, this gives us strong confidence in our future collaboration.”
About Elinor Batteries
Elinor, founded by Valinor, is a Norwegian battery production company offering competitive and sustainable batteries for the BESS market. The company is headquartered in Trondheim and plans to establish a gigafactory in the Eiktyr giga-site and industrial park in Orkland municipality.
About Jiangsu Morlus Technology Company Limited
Morlus has developed a range of industry-leading battery products and built significant capacity in battery research, development, and production. Among its largest shareholders, in addition to founders and employees, are Gongniu Electrics/Bull Electrics, Zhengxuan Investment, and China-Singapore Suzhou Industrial Park Development Group. The company holds more than 70 patents, with factories located in Nantong and its development center in Shenzhen.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240828783500/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kweichow Moutai’s Brand Culture Activities in Greece Foster Sino-Greek Cultural Cooperation21.12.2024 19:41:00 CET | Press release
On December 9th, the exhibition “Longevity in the Tao of Chrysanthemum: The Artistic World of Qi Baishi,” supported by Kweichow Moutai Group, opened at the Athens University History Museum. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241221429801/en/ Gao Shan(R3), and Petros Tatoulis(R2), took a group photo with other guests at the opening ceremony of the exhibition. (Photo: Business Wire) Featuring the works of Qi Baishi, a renowned Chinese painter, the exhibition highlights the unique charm of traditional Chinese culture for Western audiences, while advancing cultural exchange and mutual understanding between China and Greece. Gao Shan, Chairman of the Labor Union at Kweichow Moutai Distillery (Group) Co., Ltd., remarked on the significance of the event, saying, “Qi Baishi employed distinctive Eastern painting techniques to convey the Chinese perspective of the world. Athens, a city celebrated for its great masters and
Vertex Announces US FDA Approval of ALYFTREK™,a Once-Daily Next-in-Class CFTR Modulator for the Treatment of Cystic Fibrosis20.12.2024 21:46:00 CET | Press release
- ALYFTREK™ is approved for patients 6 years and older with at least one responsive mutation, including 31 additional mutations not responsive to other CFTR modulator therapies - - In head-to-head clinical trials, ALYFTREK was non-inferior on ppFEV1 and further decreased sweat chloride compared to TRIKAFTA® - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that the U.S. Food and Drug Administration (FDA) has approved ALYFTREK (vanzacaftor/tezacaftor/deutivacaftor), a once-daily next-in-class triple combination cystic fibrosis transmembrane conductance regulator (CFTR) modulator for the treatment of cystic fibrosis (CF) in people 6 years and older who have at least one F508del mutation or another mutation in the CFTR gene that is responsive to ALYFTREK. See below for Important Safety Information, including a Boxed Warning. “ALYFTREK is our fifth CFTR modulator to secure FDA approval and represents another significant milestone in our journey to serially innovate and t
Vertex Announces U.S. FDA Approval for TRIKAFTA (elexacaftor/tezacaftor/ivacaftor and ivacaftor) to Include Additional Non-F508del TRIKAFTA-Responsive Variants20.12.2024 21:35:00 CET | Press release
- Approximately 300 more people with cystic fibrosis in the U.S. are now eligible for a medicine that treats the underlying cause of their disease for the first time - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced the U.S. Food and Drug Administration (FDA) has approved the expanded use of TRIKAFTA® (elexacaftor/tezacaftor/ivacaftor and ivacaftor) for the treatment of people with cystic fibrosis (CF) ages 2 and older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene or a mutation that is responsive to TRIKAFTA based on clinical and/or in vitro data. In addition, safety information on liver injury and liver failure has been updated from warnings and precautions to a boxed warning. With this approval, 94 additional non-F508delCFTR mutations have been added to the TRIKAFTA label, and approximately 300 additional people with CF in the U.S. are now eligible for a medicine to treat the underlying cause of their
HSBC Continental Europe Enters Into a Memorandum of Understanding Regarding Potential Sale of HSBC Assurances Vie (France) to Matmut Société d’Assurance Mutuelle20.12.2024 20:32:00 CET | Press release
Regulatory News: HSBC Continental Europe has signed a Memorandum of Understanding (‘MOU‘) regarding the potential sale of its French life insurance business, HSBC Assurances Vie (France), to Matmut Société d’Assurance Mutuelle (‘Matmut’) (the “Potential Transaction”). HSBC Assurances Vie (France) provides a wide range of life insurance solutions and services, with over 20 billion euros of outstanding assets, net income1 of 77 million euros and a Solvency II ratio of 287% in 2023. As part of the Potential Transaction, HSBC Continental Europe and Matmut would enter into a long-term arrangement for HSBC Global Asset Management (France) to continue to partner with HSBC Assurances Vie (France). HSBC Assurances Vie (France) will continue its existing distribution arrangements. The Potential Transaction would provide customers and employees of HSBC Insurance Life (France) with the opportunity to join one of the leading French mutual insurance groups, which is in full development, and forms pa
Andersen Global udvider sin ekspertise med tilføjelsen af Valora20.12.2024 17:07:00 CET | Pressemeddelelse
Andersen Global fortsætter sin udvidelse af servicetilbud gennem en samarbejdsaftale med Valora, der er en uafhængig virksomhed med speciale i levering af skræddersyede løsninger til både private og institutionelle kunder globalt. Valora har kontorer i Miami og Raleigh og desuden global tilstedeværelse i Den Dominikanske Republik, Storbritannien og Caymanøerne. Valora blev grundlagt i 2011 af partneren Luis de Leon og tilbyder et stort udvalg af tjenester, blandt andet værdiansættelse, performance, regnskab og administration, global enhedsstyring, fondsvirksomhed og andre skræddersyede løsninger. "Et samarbejde med Andersen passer godt til både vores kunder og vores team," siger Luis. "Synergierne mellem for vores servicetilbud vil sætte os i stand til at levere omfattende og integrerede løsninger med stadigt stigende global rækkevidde." Global Chairman og CEO for Andersen Mark L. Vorsatz udtaler: "Valoras team og virksomhedskultur er, sammen med deres fokus på det praktiske, et godt m
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom