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Alussa Energy Acquisition Corp. (NYSE: ALUS) announced shareholder approval for its business combination with FREYR AS, a Norway-based battery cell producer. Votes for the five proposals ranged from 89.0% to 99.6%, with 58.8% of outstanding shares participating. The transaction is set to close on July 9, 2021, after which the combined entity will be known as FREYR Battery, trading under ticker symbols 'FREY' and 'FREY.WS'. The merger aims to support FREYR’s plan to develop up to 43 GWh of battery production capacity by 2025, enhancing its market presence.
Alussa Energy Acquisition Corp. (NYSE: ALUS) and FREYR AS announced plans to finalize their business combination on July 9, 2021, pending shareholder approval at a Special Meeting on June 30, 2021. If approved, the new entity, FREYR Battery, will trade under the ticker symbols "FREY" and "FREY.WS" starting July 8, 2021. Shareholders of record as of April 30, 2021, are eligible to vote. The merger aims to enhance battery production capacity, with FREYR planning to develop up to 43 GWh of battery cell production by 2025.
FREYR AS announced the appointment of Jeff Spittel as VP of Investor Relations, focusing on global shareholder engagement as part of its growth strategy in clean battery production. Following the planned merger with Alussa Energy Acquisition Corp (ALUS), FREYR aims to become a major battery cell supplier in Europe with a production capacity of up to 43 GWh by 2025. Spittel brings over 20 years of capital markets experience, contributing to FREYR's objective of fostering transparent communication with investors.
FREYR AS and Alussa Energy Acquisition Corp. (NYSE: ALUS) are hosting a Capital Markets Update webcast on June 22, 2021, at 10:00 a.m. EDT to discuss their business combination and FREYR's upcoming NYSE listing. The event will feature key executives including Daniel Barcelo and Tom Einar Jensen, alongside insights from Rystad Energy's CEO on the global energy transition and battery demand. The presentation aims to clarify the merger's benefits and provide an update on FREYR's battery production capabilities, targeting 43 GWh by 2025.
FREYR AS and Alussa Energy have appointed eight directors to the newly formed Board of FREYR Battery, a result of their business combination. The Board aims to position FREYR Battery as a leader in clean battery production to support global decarbonization efforts. With diverse backgrounds from Norway, the U.S., and other countries, the Board is expected to drive the mission of sustainable energy solutions. FREYR plans to develop up to 43 GWh of battery cell capacity by 2025 to cater to electric vehicles and energy storage markets, enhancing its competitive edge.
FREYR AS and Alussa Energy Acquisition Corp. (NYSE: ALUS) announced a Capital Markets Update webcast scheduled for June 22, 2021, at 10:00 a.m. EDT. The event aims to discuss the business combination and FREYR Battery's planned NYSE listing. Hosting the presentation will be leaders from both companies, along with Rystad Energy's CEO discussing global energy trends. The webcast will include a Q&A session and presentation slides available before the event. FREYR aims to develop 43 GWh battery production capacity by 2025, positioning itself as a major European supplier.
Alussa Energy Acquisition Corp. (NYSE: ALUS) announced that the SEC has declared effective the S-4 registration statement for its proposed business combination with FREYR Battery. The Special Meeting for shareholders is set for June 30, 2021, with a record date of April 30, 2021. Approval from shareholders is crucial for FREYR to establish itself as a leading battery manufacturer, aiming for 43 GWh production capacity by 2025. The transaction will transform Alussa into a wholly-owned subsidiary of FREYR Battery, which will trade under the new symbols "FREY" and "FREY.WS".
FREYR AS and Alussa Energy Acquisition Corp. announced potential negotiations for a joint venture to build battery production facilities in North America. This effort aims for an annualized production of at least 50 GWh by 2030, utilizing technology from 24M Technologies. The joint venture is aimed at aligning with U.S. market demands and enhancing FREYR's position in clean battery production. While discussions are ongoing, no definitive agreements have been made yet, and the business combination between FREYR and Alussa is expected to conclude in Q2 2021, leading to FREYR's NYSE listing under FREY.
FREYR AS, a Norwegian battery cell developer, announced CEO Tom Einar Jensen's participation in the Capstone DC European Clean Transport Summit on April 22, 2021. The panel will discuss the European electric vehicle market and zero-emission targets. On January 29, 2021, FREYR revealed a merger with Alussa Energy Acquisition Corp., projected to raise $850 million for battery production capacity, expected to trade as FREY on the NYSE post-completion in Q2 2021. FREYR aims to produce 43 GWh of battery cells by 2025, enhancing Europe's green energy initiatives.
FREYR AS, a Norway-based battery cell developer, is set to become publicly listed on the NYSE through a merger with Alussa Energy Acquisition Corp., projected to raise $850 million. This funding aims to develop up to 43 GWh of clean battery cell production. Notable partnerships with firms like Koch Strategic Platforms and Glencore bolster the initiative. The company is advancing a pilot plant in Norway, expected to be the first of its kind, while strengthening its leadership for future growth.
