Elinor Batteries enters strategic partnership with Stella Futura AS
Stella Futura AS.
Elinor Batteries AS announced their partnership with Stella Futura AS on the 7th of January to strengthen their position in the rapidly growing market for Battery Energy Storage Systems. Batteries are becoming a crucial part of the Nordic power system addressing the challenges of electrification, renewable integration, and grid stability. The partnership aims to secure 100 MWh of BESS installations in 2025 and achieve a total installed capacity of 5 GWh by 2030. Together, Stella Futura and Elinor Batteries, will also work to promote local production and development while complying with EU battery regulations emphasizing sustainability, safety, and traceability throughout the lifecycle.
Reducing grid costs in Sweden
In Sweden, batteries are already reducing grid costs by managing peak loads and delaying expensive grid upgrades. They also play a key role in grid balancing markets, supporting the integration of renewables and ensuring a stable and efficient power system.
The European BESS market is expected to grow to tens of billions of euros by 2030, driven by the rapid transition to renewable energy and the need to stabilize the power grid. The demand for safe, efficient, and sustainable energy storage solutions is increasing, while Europe faces challenges related to supply security. With the EU's strengthened battery regulations and goals to develop a robust production value chain, partnerships that emphasize proximity to supply chains and regional production are becoming increasingly vital to ensure efficiency and compliance in the coming years. Also, the ongoing and strengthened focus from EU and USA to ensure critical raw materials and technology products like batteries are produced locally.
Elinor Batteries in Orkland, Norway.
An Innovative Collaboration for a Safer and More Sustainable Energy Future
Stella Futura, under the leadership of CEO Ulrika Tornerefelt, is already an established player in the Swedish BESS market. Their contribution to the partnership is expertise in market intelligence, system design, EPC (Engineering, Procurement, and Construction) and financing solutions for BESS to facilitate a rapid implementation. Their experience from previous projects and understanding of safety challenges related to energy storage will ensure that all installations meet the highest standards of reliability and safety.
CEO of Elinor Batteries, Arne Fredrik Lånke, aims to start producing LFP battery cells for stationary energy storage in 2028, utilizing low-cost renewable energy, giga-scale technology and the possibility of an all-Nordic rawmaterial supplychain. Until its production facility in central Norway becomes operational, Elinor will collaborate with Morlus Technology, to secure product deliveries manufactured by the partner. This partnership ensures a stable supply chain and adherence to the highest quality standards.
A Shared Vision for Future Energy Solutions
“This partnership marks an important step in our strategy and to secure our presence as a player in the European energy storage market,” says Sofi Hildonen, EVP of Business Development of Elinor Batteries. “By combining our upcoming production capacity with Stella’s system design expertise, we are well-positioned to meet the end-customers growing demand for sustainable energy solutions. This is a rapidly growing market both here in Norway and in Sweden, why we see this common market approach as vital."
Sofi Hildonen, EVP of Business Development of Elinor Batteries.
“We are very happy to announce this partnership with Elinor Batteries,” says Ulrika Tornerefelt, CEO of Stella Futura. “Our joint efforts will not only accelerate the transition to renewable energy in the Nordics, but also contribute to building a strong professional community of advisors and engineers critical for future battery installations.”
About Stella Futura
Stella Futura is a leading Nordic BESS developer based in Sweden. Stella Futura provides renewable energy storage solutions, primarily for the C&I segment and Co-located with renewable energy production sites.
Stella futura has a strong track record delivering storage solutions with different services, such as peak shaving, island mode, ancillary services to their client base. Stella Futura has extensive experience providing financial solutions to their clients, such as battery leasing or full Battery-as-a-Service (BaaS).
Read more about Stella Futura AS here.
