Battery inspection equipment maker Nsys gained Norway’s Morrow Batteries as a new customer last year, filings from the company showed on Tuesday.
Nsys said it recorded 51.2 billion won in revenue last year, a jump of 22% from 2022.
This was thanks to the expanded capacity in North America of the company's main customer LG Energy Solution and 1.7 billion won in new revenue from the supply of kits to Morrow.
The Norwegian firm has Norway’s power utility and Denmark’s pension fund as its backers and is building a 43GWh per year capacity plant in Arendal.
An Nsys spokesperson said the equipment supplied to Morrow uses the same vision technology as the kits it provides South Korean battery makers but is shaped differently.
The equipment is for Morrow’s pilot line but it expects more orders once the Norwegian company expands its commercial lines.
