Å Energi, Maj Invest, Siemens Financial Services, and ABB to invest €48.4m in Morrow Batteries.

Å Energi, an integrated renewable energy company, Maj Invest, an asset management company, Siemens Financial Services, a technology company, and ABB, an electrical equipment manufacturer, agreed to invest €48.4m in Morrow Batteries, a company developing and manufacturing advanced lithium-ion batteries. "We are grateful for the continued support from the shareholders. We finance the company as we scale up for gigaproduction and develop new technology. This is a capital-intensive process. Morrow is on track to become a profitable Norwegian battery producer with a material R&D capability," Lars Christian Bacher, Morrow CEO.