Elinor Batteries Takes its First Step Towards a Gigafactory in Mid-Norway
The green investment company Valinor has established Elinor Batteries, a gigafactory for sustainable battery production in Orkland, Mid-Norway. The factory will be the first industrial initiative to be hosted by the green industrial site Eiktyr, which will be the largest of its kind in Norway, with an area of 6 square kilometers.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230111005614/en/
Terje Andersen - Foto Geir Morgen (Photo: Business Wire)
Preparation and construction of the first phase of Elinor Batteries will commence as early as next year, with the first production set in Q2, 2026.
"Battery production on a large scale is essential to succeed with the energy transition," says Lars Helge Helvig, chairman of the Valinor board.
Elinor Batteries is a direct response to the Norwegian government's strategy for developing a complete value chain for battery production in Norway, published this summer.
Valinor has hired Terje Andersen as the CEO of Elinor Batteries. He brings valuable experience from his former position as head of Morrow Batteries, also located in Norway.
As the world moves towards massive electrification, the demand for sustainably produced batteries increases rapidly day by day.
"There are no other places in the world more suitable for producing sustainable batteries than Central Norway," says Andersen.
The area has vast access to Europe's cheapest renewable power. In addition, the tech capital of Trondheim is located only 30 minutes away, providing access to leading R&D resources and a substantial labour market.
Elinor Batteries' products will be based on LFP technology and will not depend on nickel and cobalt.
The gigafactory will be developed in modules to limit financial and technological risks. The first module can start production as early as 2026, with estimated investments of about EUR 1 billion. Three modules are planned towards 2030, and Valinor has funded the project's initial phase. A funding round will take place later in 2023.
Elinor is initially targeting the market for stationary storage of electric energy for buildings, industry and charging stations for electric transportation and marine applications.
Elinor sees potential for creating several thousand jobs in the region when the factory reaches full-scale production.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005614/en/
Contact information
CEO Terje Andersen
+47 97950707
email: terje.andersen@elinorbatteries.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hansen Powers Intraday Trading for Skellefteå Kraft21.3.2023 12:00:00 EET | Press release
Hansen Technologies (ASX:HSN), a leading global provider of software and services to the energy, water and communications industries, is pleased to announce a new agreement with Skellefteå Kraft, an energy company operating in Sweden. As part of the agreement, Skellefteå Kraft, will use Hansen Trade for automated intraday trading operations. The intraday trading solution within Hansen Trade will enable Skellefteå Kraft to automate intraday trading operations and reach significant cost savings in balance management. Skellefteå Kraft will thus be able to automate intraday trading operations with a modern and easy-to-use trading solution – thereby allowing the company to produce beneficial outcomes and implement zero-touch automation. This in turn will replace costly, manual interventions, and minimise risks in the real-time intraday market. Stefan Forsgren, Business Area Director, Power System at Skellefteå Kraft commented: “In the current volatile climate, which also encompasses the rap
REPLY: Comwrap Reply Named Adobe 2023 Digital Experience Emerging Partner of the Year - Central Europe21.3.2023 11:30:00 EET | Press release
Comwrap Reply, the Reply Group company that specialises in cloud-native digital experience services has been awarded the prestigious Adobe 2023 Digital Experience Emerging Partner of the Year - Central Europe. The award honours companies that have made leading contributions to Adobe’s business and significantly impacted customer success. This award is the result of a strategic roadmap that started with Adobe in 2008 to provide high-value solutions to customers and organisations throughout the world. This announcement comes after Reply acquired multiple Adobe Specializations in recent years and was named a Platinum Solution Partner in 2022. “Comwrap Reply demonstrated strong collaboration with Adobe Customer Solutions by delivering cloud-native client implementations. They have proven their continued dedication toward growing their Adobe Experience Platform practice in Europe, which contributed significantly to earning this award. We look forward to continuing our strategic partnership
Lineage Logistics Opens Headquarters in Madrid, Spain21.3.2023 11:00:00 EET | Press release
Lineage Logistics, LLC (“Lineage” or the “Company”), one of the leading temperature-controlled industrial REIT and logistics solutions providers worldwide, has opened a new Southern Europe headquarters in Madrid, Spain on 17 March, at an event attended by the Company’s Southern Europe Management team, as well European and US executive leadership and board members from Lineage’s parent company, Bay Grove. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230321005165/en/ Harld Peters, Lineage Logistics President of Europe, and Raúl Fores Valles, Regional Vice President of Southern Europe, deliver remarks at the opening of the company's new headquarters in Madrid. (Photo: Business Wire) The new headquarters in Madrid highlight Lineage’s continued investment in the region and lay the foundation for continued growth. Additionally, the increased focus in Southern Europe creates stronger connections to Lineage Logistics’ network of h
Samsung Announces Ultra-Wideband Chipset with Centimeter-Level Accuracy for Mobile and Automotive Devices21.3.2023 11:00:00 EET | Press release
Samsung Electronics Co., Ltd., a world leader in advanced semiconductor technology, today announced its first ultra-wideband (UWB) chipset, the Exynos Connect U100. With single-digit centimeter accuracy, the new UWB solution is optimized for use in mobile, automotive and Internet of Things (IoT) devices, offering precise distance and location information. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230321005109/en/ Samsung Exynos Connect U100: Ultra-Wideband Chipset with Centimeter-Level Accuracy for Mobile and Automotive Devices (Graphic: Business Wire) Samsung also unveiled ‘Exynos Connect’, a new brand that consolidates its short-range wireless communication solutions, such as UWB, Bluetooth and Wi-Fi that are essential in facilitating an increasingly hyper-connected world. "Our Exynos Connect U100 combines sophisticated ranging and positioning capabilities with strong security to enable hyper-connectivity between peop
Forrester Announces Full Conference Agenda For CX EMEA 202321.3.2023 11:00:00 EET | Press release
Forrester (Nasdaq: FORR) today announced the full conference agenda for its CX EMEA event being held in London and digitally on 10–11 May 2023. At a time when consumer brands are bracing for strong, macro-level headwinds, including inflation, talent shortages, and supply chain issues, a lack of shared vision across the business is a challenge. The time is now for customer-facing functions to establish a shared, collective understanding of the customer that creates value for their customers and drives sustainable growth for their business. Forrester finds that companies with high levels of alignment across functions including CX, marketing, and digital report 2.4x higher revenue growth and 2x higher growth in profitability than those with either some or no alignment. Featuring immersive experiences, keynote presentations, case studies, and dedicated role-based breakout sessions, CX EMEA 2023 will offer the latest research insights, models, and frameworks to help CX, B2C marketing, and d
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom