Wikborg Rein assists Siemens in connection with investment in Morrow Batteries AS
We are happy to announce that we have assisted Siemens as one of the lead investors in connection with a EUR 100 million private placement in Morrow Batteries AS.
Morrow, located in Arendal, is a Norwegian company that aims to manufacture the world's most cost-effective and sustainable battery cells. The proceeds from the private placement are expected to finance the first phase of the company's factory in Arendal, and is a key milestone for Morrow towards its ultimate goal of developing a giga factory with expected production capacity of 43GWh battery cells per year.
For more information, please see:
- https://www.dn.no/gronn-okonomi/har-fatt-tek-giganter-med-pa-laget-henter-en-milliard-kroner-til-ny-batterifabrikk/2-1-1222155 (Norwegian)
- https://finansavisen.no/nyheter/energi/2022/05/22/7870818/gjelstens-batterifabrikk-sikret-ny-milliard (Norwegian)
Wikborg Rein core team comprised of Ole Henrik Wille and Fredrik Hals.