Morrow battery manager Lars Christian Bachner has long been aware that the company needs cash by the end of the year to ensure its own liquidity and to be able to operate the country’s largest battery factory in Arendal completed.
The battery company has applied for a government loan of NOK 1.5 billion. But now the company is making a distress call to the government that they are unlikely to get the support they need, wrote Dagens Næringsliv (DN).
Read also: Police action against battery factory in Arendal – illegal workers found
“For Morrow, it’s either this or that. Without risk relief, we will not be able to bring current and new owners with us in the work to further develop the company,” Bachner wrote in a letter to Industry Minister Cecilie Myrseth (Ap).
In the letter, he writes that Innovation Norway (IN) is not willing to give the loan to the company under the conditions necessary to reduce the risk to the company and the owners. IN manages the government support scheme “Learning green business”. The scheme has a pot of NOK five billion to distribute.
The ministry points out that the scheme is managed by Innovation Norway according to set criteria, and that it has no further comments.
2024-11-27 07:23:00
#Morrow #Battery #Morrow #battery #company #loan #government
