Siemens Financial Services and ABB led a $106m funding round in Morrow Battery.

Siemens Financial Services, a financial company, and ABB, an electrical components manufacturer, led a $106m funding round in Morrow Battery, a battery manufacturer, with participation from Nysnø Climate Investments, Arendals Fossekompan, Danish pension fund PKA, NOAH, and Agder Energi Invest. ”This capital raise primarily finances equipment for the first factory. It will be the first battery cell production facility in Norway with a capacity to deliver to the commercial market, and we will manufacture the first battery before the end of 2023,” Terje Andersen Morrow CEO.