Equinor: to explore battery business with Panasonic, Hydro
(CercleFinance.com) - Equinor said on Wednesday that it has signed a memorandum of understanding with Japan's Panasonic and Norwegian industrial group Hydro to explore the potential for a joint battery business in Europe.
The three companies said they plan to form a strategic partnership and to work together by the summer of 2021 to assess the market for lithium-ion batteries in Europe, with a future green battery unit to be located in Norway.
This initiative would be based on Panasonic's technology, targeting the European market for electric vehicles, they said.
Equinor also said on Wednesday that it will increase capacity at its Johan Sverdrup platform in the Noth Sea to 500,000 barrels of oil per day by the end of the year, around 60,000 barrels more than the original basis when the field came on stream.
Equinor shares were flat on Wednesday morning on the Oslo Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The three companies said they plan to form a strategic partnership and to work together by the summer of 2021 to assess the market for lithium-ion batteries in Europe, with a future green battery unit to be located in Norway.
This initiative would be based on Panasonic's technology, targeting the European market for electric vehicles, they said.
Equinor also said on Wednesday that it will increase capacity at its Johan Sverdrup platform in the Noth Sea to 500,000 barrels of oil per day by the end of the year, around 60,000 barrels more than the original basis when the field came on stream.
Equinor shares were flat on Wednesday morning on the Oslo Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.