TECHNOLOGY · Exclusive

Oslo company raises NOK 200 million for battery plant

The capital will fund a new production line in eastern Norway. DN can reveal who is in the placement — and what the investors demand in return.

DN Demo Desk · 5 min ago · 4 min read

An Oslo-based battery company has raised NOK 200 million in a private placement, DN has confirmed from several sources familiar with the process. The money will go to a production line for stationary energy storage in Vestby.

Until now the company has delivered cells in small series to Nordic power utilities. The new line is to increase capacity tenfold and make it possible to deliver complete storage systems, not just components.

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Almost double the valuation in two years — and the investors secured preference shares with dividends ahead of everyone else. Who is in the placement and what they demand in return is in the rest of this story.

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