ELINOR-BATTERIES
29.8.2024 09:01:32 CEST | Business Wire | Press release
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
IFF Declares Dividend for First Quarter 20264.3.2026 22:15:00 CET | Press release
IFF (NYSE: IFF) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.40 per share of its common stock, payable on April 10, 2026 to shareholders of record as of March 20, 2026. Welcome to IFF At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, food ingredients, health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience.Learn more at iff.com, LinkedIn, Instagram and Facebook. © 2026 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20260304579613/en/
Armis Named a Leader for Second Consecutive Year in 2026 Gartner® Magic Quadrant™ for CPS Protection Platforms4.3.2026 16:12:00 CET | Press release
Armis CentrixTM leveraged by global organizations to manage cyber risk across their entire attack surface Armis, the cyber exposure management & security company, today announced that it has been named a Leader in the 2026 Gartner Magic Quadrant for CPS Protection Platforms for the second consecutive year. “In an era of agentic AI, the security of our cyber-physical systems has become a strategic imperative for enterprises and governments globally; it is a pivotal pillar of global stability,” said Yevgeny Dibrov, CEO and Co-Founder of Armis. “We believe this back-to-back recognition from Gartner reflects our continued commitment to helping organizations secure the complex, critical world of CPS and reinforces the strength of our unified, proactive platform approach. Our innovation pipeline, which is aligned with our customers' needs, will continue to prioritize protecting critical environments to keep society safe and secure.” Armis was named a Leader in this report among the 13 vendor
Svante Acquires Carbon Dioxide Removal Project Developer, Carbon Alpha Corp.4.3.2026 16:00:00 CET | Press release
Svante acquires Carbon Alpha to accelerate commercial-scale carbon removal & expand its CCS/BECCS project development business in Western Canada. Acquisition adds the North Star BECCS Project, developed in partnership with the Meadow Lake Tribal Council, advancing the market for durable and verifiable CDR credits. The transaction strengthens Svante’s fully integrated carbon management platform, adding CO₂ storage expertise, a regional pipeline & a major geological storage hub. Svante Technologies Inc. (Svante), a leader in carbon management, and Calgary-based Carbon Alpha Corporation (Carbon Alpha) today announced that Svante has acquired Carbon Alpha and its related subsidiaries, including Carbon Alpha Development Corp. and its ownership interests in North Star Carbon Solutions Corp. and North Star Carbon Solutions Limited Partnership, a project developer for carbon capture and storage (CCS) in Western Canada. With this transaction, Carbon Alpha’s flagship North Star Bioenergy Carbon
Binarly Announces Leadership Transition as Enterprise Demand Accelerates for Supply-Chain Security4.3.2026 16:00:00 CET | Press release
Binarly, the industry leader in software and firmware supply‑chain security, today announced a leadership transition as the company enters its next phase of growth. Founder and current CEO Alex Matrosov has joined the company’s Board, and Gwenyth Castro has joined as Chief Executive Officer to scale global go-to-market and enterprise growth. Binarly developed its Transparency Platform on a unique, patented technology core designed to help the world’s largest enterprises identify and reduce third-party software risk across complex environments. The platform is trusted by organizations including Meta and Dell, among others. “We built Binarly to solve a problem the industry kept ignoring: you can’t secure what you can’t see,” said Alex Matrosov, Founder of Binarly. “Over the last five years, this team turned deep program analysis and vulnerability research into a platform trusted by some of the world’s most demanding enterprises. Now, as AI accelerates how software is built and shipped, t
Unleash Raises $35M Led by One Peak to Help Enterprises Ship AI-driven Software Faster, Safer, and Smarter4.3.2026 15:00:00 CET | Press release
Unleash, the open-source FeatureOps company, today announced a $35 million Series B financing led by One Peak, with participation from existing investors Spark Capital, Frontline Ventures, and Firstminute Capital. The new funding will be used to accelerate product innovation and global expansion as enterprises confront the opportunities and risks of AI-accelerated software delivery. AI has dramatically accelerated software development, creating a generational opportunity for anyone in an enterprise to turn ideas, prompts, and prototypes into applications. But AI has also outpaced the systems designed to control software delivery. DORA research shows that a 25% rise in AI adoption correlates with a 7% drop in software stability. Enterprises are shipping code 2-3x faster with AI, yet outages caused by uncontrolled feature rollouts and missing kill switches are costing businesses millions in lost revenue, prolonged customer downtime, and brand damage. FeatureOps is emerging as the missing
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