Morrow Batteries, Li-Cycle and ECO STOR have formed a Joint Venture to establish a battery recycling facility in Southern Norway. With this partnership, Morrow and partners are taking an important step towards establishing a closed loop in the battery value chain.
The recycling facility will have the capacity to process up to 10,000 tonnes of lithium-ion batteries per year, including battery manufacturing scrap, full EV packs, and energy storage systems. With this facility, the partners deliver an integrated closed loop battery production, re-use and recycling to the Nordic market. The facility is expected to be operational in early 2023.
“Localizing the full battery supply chain to Norway’s ‘battery coast’ and South Norway is key to driving down our cell production cost, while simultaneously delivering the world’s most sustainable batteries. This partnership will develop a closed material loop ecosystem supporting European customers and will ensure we continue to deliver value from battery materials through re-use and recycling over the long term”, says Terje Andersen, CEO of Morrow Batteries.
Headquartered in Arendal, Norway, Morrow Batteries is building up world-class battery cell manufacturing with a planned annual capacity of 43 GWh, utilizing 100% renewable hydroelectric power to ensure the lowest possible CO2 footprint.
Li-Cycle will be the majority owner. The initiative brings together complementary parts of a circular and sustainable value chain to the European market and brings Li-Cycle’s total global recycling capacity (existing and under development) to 40,000 tonnes of lithium-ion battery input per year.
“This is a significant step for Li-Cycle, as we deploy our proven lithium-ion battery resource recovery solution to the European market and execute on our global growth strategy with key industry partners,” said Ajay Kochhar, President, CEO and co-founder of Li-Cycle. “Norway’s early leadership in EV adoption and ecosystem is a beacon for electrification globally, creating a robust market for both battery manufacturing scrap and end-of-life batteries domestically. Together with our new partners, we believe we are well positioned to capitalize on this meaningful opportunity.”
Headquartered in Oslo, Norway, ECO STOR, a portfolio company of Norwegian utility company Agder Energi, is a leading second-life energy storage development business focused on converting used lithium-ion batteries into energy storage systems. ECO STOR’s proprietary methodology introduces a complete solution for developers, builders, and homeowners looking for low-cost and energy-efficient storage.
“As a leading supplier of energy storage solutions in Norway, ECO STOR has pioneered the development of technologies that enable widespread deployment of second life EV batteries,” commented Trygve Burchardt, CEO of ECO STOR. “Providing batteries with a second life is a significant step on the path to delivering stable, clean, renewable energy and we are pleased to provide a complete recycling solution through our new partnership.”