New strategic direction drives leadership change at Morrow Batteries

(Arendal, Norway) After three years leading Morrow Batteries ASA (Morrow), Lars Christian Bacher is stepping down as Chief Executive Officer. Jon Fold von Bülow, one of the company's founders, assumes the role of acting CEO as Morrow pursues a revised strategic direction.

-We have mutually agreed that now is the right time for this transition. Lars Christian has made a significant contribution to Morrow's development, and we are grateful for his efforts. We are entering a new phase with fresh leadership, says Ann-Christin Andersen, Chair of the Board.

Going forward, Morrow will particularly focus on engaging with industrial partners who require the company’s extensive battery expertise, capacity, and technology.

- The strategy going forward will place greater emphasis on partnerships with industrial players. We have a significant responsibility toward our employees, owners, and supporters who have invested in us, and we take that responsibility very seriously, says Chair Andersen.

Jon Fold von Bülow, Chief Science Officer and company co-founder, will assume the role of acting CEO. Simultaneously, Andersen will take an active role as Executive Chair to ensure continuity and clear governance. Lars Christian will assist the company during the transition through March 2026.

- The batteries we are producing in Arendal receive good feedback from customers who test them. We see increasing interest from European players, including the defence sector. We have also proven our ability to produce quality batteries that meet strict safety and environmental requirements. At the same time, the market situation is demanding for us and the battery industry in general, says Andersen.

The battery market has changed significantly since Morrow was established. International overcapacity and increased imports of low-cost products have created strong price pressure, while capital costs have also risen. At the same time, we see a clear political and industrial priority in the EU and Norway to build European supply chains, driven by electrification, industrial transformation, and the increasing need for energy security.

- The company brings technology and expertise that are essential for Europe’s future. Developing European capacity for critical components de-risks both energy security and the defence industry, ensuring greater strategic autonomy. Morrow is currently the only European manufacturer of LFP batteries of this size, says Andersen.

- It has been a pleasure to lead Morrow through an exciting phase. The company has evolved with the establishment of the research centre, production from the factory, and the introduction of green industrial financing. Today, Morrow stands on a solid platform for both production and research and development. I have great confidence in the company and its employees, says Bacher.