Morrow Batteries to file for bankruptcy, battery cell production in Europe stymied again

Norway’s Morrow Batteries ASA has filed for bankruptcy, along with its subsidiaries Morrow Technologies AS and Morrow Industrialization Center AS, as the tough economics of battery startups was once again on display.

In a long press release, the board of directors of the company said they were unable to secure the additional financing needed to complete negotiations with potential industrial investors, with the company’s deteriorating liquidity position causing issues with the company as a going concern. The bankruptcy will be overseen by a court in Norway, with employees protected under the country’s wages guarantee scheme.

The board believes its “underlying technology and assets retain significant long-term value,” including its battery cell factory in Arendal, Norway. In the case of the collapse of Northvolt, Lyten took over the business to continue the manufacturing efforts in several areas.

Morrow Batteries had been posting recent wins – just days ago, it was announcing the start of deliveries of its prismatic lithium iron phosphate (LFP) battery cells to Finnish technology company Proventia, which was set to use them in battery modules and packs used in off-highway and industrial applications. It had also delivering on a first commercial agreement within the defense industry, involving deliveries “to a German company”. It had begun series production of its lines in early January 2026 though even then, was cutting costs to attempt to stave off financial issues.

The company was founded in 2020 and raised more than roughly $300 million USD in equity, from heavyweight investors including Norway’s own state climate investment company Nysnø, along with Siemens.

“What has been achieved at Morrow is the result of extraordinary dedication, resilience, and belief through a period of significant challenges. While this chapter comes to an end, the knowledge, technology, and capabilities developed here represent lasting value. I want to express my profound respect and gratitude to all employees who have been part of this journey,” said Jon Fold Von Bülow, acting CEO of Morrow, in the company’s statement.

“Developments in the global battery market, combined with the capital requirements inherent in an early industrialization phase, have made this journey far more challenging than anticipated. We have worked intensively to find a sustainable solution but have not succeeded in securing sufficient financing within the timeframe available. At the same time, we are proud of what our employees have achieved – they have built a factory and developed technology that will hopefully prove valuable to Europe’s growing battery sector,” added Ann Christin Andersen, chair of the board of Morrow Batteries ASA..