CLP advised in Morrow Batteries’ private placement of up to EUR 70 million

CLP acted as legal advisor for Å Energi Invest and coordinating counsel for all major shareholders in Morrow Batteries ASA’s private placement of up to EUR 70 million. The private placement is structured in two tranches, whereby the first tranche has already been resolved by the company’s general meeting, and the second tranche is contemplated to take place later this fall.

The private placement is guaranteed by several of the company’s largest shareholders (Å Energi Invest, PKA (Maj Invest), Siemens Financial Services, ABB and Nysnø Klimainvesteringer).

The new funds will provide Morrow Batteries with capital to continue its development of next-generation sustainable batteries and brings the company closer to commercial production, and will primarily be allocated to support continued growth and the construction and development of the Morrow Industrialization Center.

The CLP team consisted of Lars Gunnar Aas and Arve Rolstad Jahren.