Elinor Batteries Takes its First Step Towards a Gigafactory in Mid-Norway

Elinor Batteries launches plans for a giga-scale battery factory near Trondheim, Norway. The first production of sustainable batteries from Elinor, based on renewable energy, is set to commence in 2026 

The green investment company Valinor has established Elinor Batteries, a gigafactory for sustainable battery production in Orkland, Mid-Norway. The factory will be the first inhabitant of the green industrial site Eiktyr, which is set to be the largest of its kind in Norway, with 6000 acres.

Preparation and construction of the first phase of Elinor Batteries will commence as early as next year, with the first production set in Q2, 2026. 

"Battery production on a large scale is essential to succeed with the energy transition," says Lars Helge Helvig, chairman of the Valinor board.

Elinor Batteries is a direct response to the Norwegian government's strategy for developing the complete value chain for battery production in Norway, published this summer.

As the world moves towards massive electrification, the demand for sustainably produced batteries increases rapidly day by day.  Valinor sees Eiktyr, in Mid-Norway, as the worlds most suitable location for producing sustainable batteries. 

The area has vast access to Europe's cheapest renewable power. In addition, the tech capital of Trondheim is located only 30 minutes away. The labour market is among Norway's biggest. 

In addition, Elinor Batteries' products will be based on LFP technology and will not depend on nickel and cobalt. 

The gigafactory will be developed in modules to limit financial and technological risks. The first module can start production as early as 2026, with estimated investments of about NOK 10 billion. Three modules are planned towards 2030, and Valinor has funded the project's initial phase. A capital-raising process will take place later in 2023. 

The factory's first phase will produce batteries for stationary storage of electric energy for buildings, industry and charging stations for electric transportation, such as cars and ferries.

Elinor Batteries sees potential for creating several thousand jobs in the region when the factory reaches full-scale production.

For more information, contact Elinor Batteries.