FREYR Battery Announces ‘Chapter One’ Opening Event at Customer Qualification Plant in Mo i Rana, Norway

Rhea-AI Summary

FREYR Battery (NYSE: FREY) will host its 'Chapter One' opening event at the Customer Qualification Plant in Mo i Rana, Norway, on March 28, 2023. This event marks the launch of an industrial-scale production line utilizing the 24M Technologies SemiSolid production platform. FREYR aims to produce clean, next-generation batteries to accelerate global decarbonization. The event will feature presentations from the FREYR team and remarks from stakeholders, with a webcast available for remote attendance. The company targets 50 GWh of battery cell capacity by 2025, growing to 200 GWh by 2030.

Positive

• Inauguration of the Customer Qualification Plant marks a significant milestone.
• Launch of an industrial-scale production line using advanced SemiSolid technology.
• Ambitious growth targets of 50 GWh by 2025 and 200 GWh by 2030.

Negative

• None.

NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)-- FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, has announced that the Company will host its ‘Chapter One’ opening event at the Customer Qualification Plant (“CQP”) in Mo i Rana, Norway, on March 28^th, 2023.

“The Chapter One opening ceremony at the CQP is a major milestone for FREYR which inaugurates the global launch of one industrial scale production line of the 24M Technologies (“24M”) SemiSolid^TM production platform at GWh scale. We look forward to welcoming our customers, suppliers, and local and regional officials to Mo i Rana on the 28^th. Additionally, we are planning an investor-focused event at the CQP this summer to demonstrate automated production of clean, next-generation batteries with this ground-breaking technology,” commented FREYR’s Co-founder and Chief Executive Officer, Tom Einar Jensen.

The Chapter One event, which will feature short presentations from FREYR team members and remarks from other key stakeholders, will start at 1:30 pm Central European Time (7:30 am Eastern Daylight Time). A webcast of the prepared remarks will be webcast simultaneously at: https://freyrchapterone.com/ on a listen only basis.

About FREYR Battery

FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to install 50 GWh of battery cell capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh of annual capacity by 2030. To learn more about FREYR, please visit www.freyrbattery.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230316005374/en/

Investor contact:

Jeffrey Spittel

Vice President, Investor Relations

jeffrey.spittel@freyrbattery.com

Tel: (+1) 281-222-0161

Media contact:

Katrin Berntsen

Vice President, Communication and Public Affairs

katrin.berntsen@freyrbattery.com

Tel: (+47) 9920 54 570

Source: FREYR Battery

FAQ

What is the significance of the 'Chapter One' event for FREYR Battery?

The 'Chapter One' event on March 28, 2023, marks the launch of FREYR Battery's first industrial-scale production line, a significant milestone for the company.

When is FREYR Battery's 'Chapter One' opening event scheduled?

The event is scheduled for March 28, 2023, at 1:30 PM Central European Time.

What are FREYR Battery's production capacity goals?

FREYR aims for 50 GWh of battery cell capacity by 2025, increasing to 200 GWh by 2030.

Where is the Customer Qualification Plant located?

The Customer Qualification Plant is located in Mo i Rana, Norway.

How can investors participate in the 'Chapter One' event?

Investors can participate via a webcast of the event, available at https://freyrchapterone.com.