1. Morrow primarily sells lithium iron phosphate cells to system integrators in the energy storage system market, targeting smaller companies emphasizing sustainability and independence from Chinese supply chains.
2. The company plans to explore production of LNMO batteries to reduce reliance on Chinese supply chains for cathode active material.
3. Morrow is considering strategic partnerships and joint ventures to become a full energy storage system supplier, leveraging its access to renewable energy from hydropower in Sweden and Norway.
Morrow, a Norwegian-founded company, primarily sells lithium iron phosphate cells to the energy storage system (ESS) market, targeting system integrators in the commercial and industrial (C&I) and residential sectors. The company aims to stay competitive in the market despite price falls from Chinese suppliers and the lack of incentives to use European cells in the ESS market. Morrow plans to work with smaller companies focusing on sustainability and independence from the Chinese supply chain.
The company is looking at a second-generation chemistry called lithium nickel manganese oxide (LNMO) to reduce its reliance on Chinese suppliers for cathode active material. Despite sourcing challenges, Morrow is considering strategic partnerships or joint ventures to expand into full ESS provision. COO Andreas Maier, with experience at Samsung SDI, emphasizes the competition with Chinese and East Asian suppliers in Europe’s gigafactory market.
Major European gigafactory projects are backed by automotive OEMs, signaling a potential return to component manufacturing. Morrow’s main shareholders include Norwegian energy group Å Energi, PKA, Siemens Financial Services, ABB, and Nysnø. The company aims to leverage European renewable energy sources and market opportunities to establish itself as a key player in the ESS market.