Norwegian battery startup to cooperate with ABB

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OSLO, June 28 (Reuters) - Norwegian battery startup Beyonder said on Monday it would cooperate with Swiss engineering company ABB (ABBN.S) to develop and manufacture battery cells for industrial applications.

Beyonder, founded in 2016, raised 125 million crowns ($14.7 million) in December to launch a pilot production line this year for so-called lithium-ion capacitators, batteries that provide high power output and could be recharged quickly, making them suitable for use in heavy machinery or for the power grid.

In 2024, Beyonder plans to start full-scale commercial production.

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"Energy storage technology, such as batteries developed for transport, power and industrial applications is one of the crucial solutions required to support the shift to a low-carbon economy," Beyonder's Chief Commercial Officer Kristin

Skofteland said in a statement.

Norway has several large-scale battery plant projects under development as investors seek to tap into the country's renewable energy to make the production of batteries more sustainable.

Beyonder said it had also developed a patented process to convert forestry residue, namely sawdust from pine and spruce, into activated carbon for its battery cells.

($1 = 8.4869 Norwegian crowns)

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Reporting by Nerijus Adomaitis, editing by Gwladys Fouche

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