Nordic Batteries fills the gap in the value chain between cell manufacturers and system integrators and contributes to building a complete Norwegian value chain for battery production. The company has developed battery modules and ground-breaking technology for automated assembly of modules. The first modules have already been delivered to the customer for testing.
The product and technology have been developed under the BATNET project in close collaboration with, among others, Siemens Norway, Intek, Sintef and Kongsberg Innovation. BATNET is a Green Platform project supported by Innovation Norway, SIVA and the Research Council. Through the project, Nordic Batteries has gained access to unique expertise and technology in the development of its products and
Production at Kongsberg in Q4
The production line has been developed in collaboration with Intek at Raufoss and will be set up in Kongsberg during September. Nordic Batteries will start test production as soon as the line is installed and plans to produce the first modules for customers during Q4.
We have already had access to the line for some time at Intek, which has given us the opportunity to test some of the processes. This has also given us valuable experience and made the organization better prepared for the start-up at Kongsberg.
Work on planning a larger production line is also well under way and Nordic Batteries is planning for a final investment decision before the summer of 2025 with production starting in the first half of 2026.
Product focus on energy modules
In the past year, Nordic Batteries has focused on developing an energy module based on Morrow battery cells. This has been in close collaboration with Morrow and Eldrift.
The collaboration has been important, both for our and Morrow's development. After Eldrift's notice of invitation to tender in May, we have continued development and collaboration with Morrow as our design is generic and also suitable for other customers.
Nordic Batteries has received very positive feedback from potential customers on the product developed. Enthusiasm is particularly linked to the modules' ability to deliver 2C (high effect) in flexibility markets. We will continue to work with feedback from customers and look forward to launching the final version of the energy module based on Morrow's LFP cells towards the end of the year.
Market focus on strategic cooperation
The collaboration with Morrow on the market side has been positive and together we have presented the products to several customers, both internationally and in the Norwegian market.
We have signed an LoI with an agreement to receive modules for testing with several customers. and have interest in this from customers in several market segments. The agreements involve everything from testing of prototypes when these are available this fall and further development of the product to adapt it to the customers' needs.
The companies we have entered into agreements with target several markets with international potential, as well as potential for the defense industry. The potential of these companies together exceeds Nordic Batteries' planned production capacity in the coming years, both on the pilot line and the next line under planning.
Financing race towards full-scale production line
Nordic Batteries is finalizing a funding round which will be finalized during September. In parallel with the pilot line coming up and the first modules being delivered, we will prepare the financing of the next step towards a larger, fully automated production line of 1GWh.
A complete battery value chain in Norway is the key to the Green Shift
By contributing to the development of a complete value chain for batteries in Norway, Nordic Batteries is helping to ensure the green shift and to reduce dependence on imported materials and technology. This will also help to build local production expertise and strengthen competitiveness in a global, sustainable economy. Such a value chain also creates jobs and supports the transition to a circular economy by promoting the recycling and reuse of materials.
For further information and questions, please contact the company at:
Jarle Gjøsæther, CEO
jarle.gjosather@nordicbatteries.com
+47 98224002
Paal Christian Myhre, CCO
paal@nordicbatteries.com
+47 92884588