Equinor, Hydro, Panasonic discover battery options

Nov 18, 2020 02:46 PM ET
  • Trio to examine possibilities for establishing a European service based in Norway
Equinor, Hydro, Panasonic discover battery options
Image: Equinor

Norwegian firms Equinor and Hydro are signing up with forces with Panasonic to check out opportunities for developing a sustainable as well as cost-competitive European battery business.

The trio have authorized a memorandum of understanding (MoU) to create a tactical partnership that will see the companies work together towards summer 2021 to evaluate the marketplace for lithium-ion batteries in Europe as well as develop the business case for a green battery business situated in Norway.

They stated the effort is based upon Panasonic's leading modern technology as well as targets the European market for electric cars and various other applications.

The business will certainly additionally examine the capacity for an incorporated battery worth chain and also for co-location of supply chain companions.

The findings from this preliminary exploratory stage will create the basis for subsequent decisions.

As part of this preliminary phase, the firms will directly engage possible consumers in Europe's automobile and non-automotive markets and also become part of discussion with relevant authorities in Norway and also in Europe focusing on making sure competitive framework problems for this joint battery effort.

Initial searchings for are expected around mid-2021.

Panasonic executive vice head of state (VP) Mototsugu Sato claimed the business sees the calculated collaboration with Equinor and also Hydro as a prospective basis for future advancement and development in the energy/battery sector in Europe.

He claimed: "This partnership incorporates Panasonic's position as an innovative innovation business as well as leader in lithium-ion batteries, with the deep commercial experience of Equinor and Hydro, both strong international gamers, to potentially lead method for a robust and lasting battery organization in Norway.

" Panasonic has powered the last two revolutions in the automobile market-- first by powering crossbreeds and currently, by powering numerous generations of all electrical lorries.

" We are pleased to participate in this campaign to check out applying sustainable, extremely advanced technology and supply chains to provide on the rigorous demands of lithium-ion battery clients and sustain the renewable energy field in the European area."

Equinor exec VP of worldwide approach and also service advancement Al Cook (imagined, centre) stated: "Our business seek to be leaders in the power change.

" The development of this first-rate battery collaboration shows Equinor's aspiration to become a broad energy firm.

" We think that battery storage space will play a significantly vital duty in bringing energy systems to web no emissions.

" By pooling our various locations of energy proficiency, our firms will seek to produce a battery organization that pays, scalable as well as lasting."

Hydro executive VP of energy as well as corporate advancement Arvid Moss (visualized, right) claimed: "We anticipate battery manufacturing to proliferate as a remedy to the globe's top challenge, climate adjustment.

" We have actually currently seen in recent years that Hydro's unique combination of capabilities from renewable energy and also processing industries offer a solid foundation for partnerships for discovering development chances in the battery market.

" We think the mixed staminas of Panasonic, Equinor and Hydro stand for an appealing starting factor for checking out the opportunities for a rewarding and lasting battery company in Norway, where we have a solid grip, renewable power base and close distance to the European market."

Envisioned on the left is Panasonic Energy North America president Allan Swan.