The Board of Directors of Morrow Batteries ASA has today resolved to file for bankruptcy proceedings. Similar decisions have been made by the board in the subsidiaries Morrow Technologies AS and Morrow Industrialization Center AS.
The Board regrets that it was not possible to secure a limited additional timeframe to complete the ongoing process of securing a new industrial investor and financing the group. Several of the ongoing efforts had reached an advanced stage but could not be concluded within the constraints imposed by the group’s liquidity situation.
Since its establishment, Morrow has worked purposefully to establish industrial production of sustainable battery cells in Norway. The company has recently entered into a long-term…