Taking batteries to global markets

Norway has the potential to become a global leader in battery production because we can produce batteries more sustainably. Beyonder uses waste from the forestry industry as a key ingredient. That is good news.

'Much of today’s production takes place in Asia, where electricity and energy come from coal-fired power plants. Some of the ingredients used are not particularly sustainable either,' explains Svein Kvernstuen, founder and CEO of Beyonder.

He believes battery production is a smart path for Norway to pursue in the green energy transition. Demand is high, and the market is growing rapidly. We have supported the company since it was founded in 2016.

'Innovation Norway has been very proactive and given us excellent support. We have received a great deal of help, both through funding and by having them open doors for us,' Kvernstuen emphasises.

It began with a grant for market clarification. Once they had identified the market need and drawn up plans for the technology development itself, they received an environmental technology grant. They then received innovation advisory services and innovation loans.

'Through our grants and loans, we aim to help companies like Beyonder bring innovative projects to life that can create significant value in Norway in the future,' says John Morten Storflor, financial adviser at our Rogaland office.

The company has also received market advisory on several occasions from our offices in Sweden and Japan.

'Through cross-border partnerships and collaboration, we can develop innovative, sustainable battery solutions and build a strong international position,' says Thea Schøyen, Senior Adviser at our Sweden office.

Beyonder is making a major investment to establish a battery factory at Forus, and we are supporting the project with an extraordinary innovation grant and innovation loans.

The factory will become a national battery centre, creating several hundred jobs, with full-scale in-house production planned for 2023. The batteries are designed for heavy industry and large engines. For example, a bus could use a smaller battery than it does today.

'As we begin to scale back activity in the North Sea, we need to create exciting, long-term jobs that will secure tax revenues and export earnings for the future,' Kvernstuen emphasises.