FREYR Battery, Inc. - FREY STOCK NEWS

FREYR Battery (NYSE: FREY) welcomes a strategic partnership between its collaborator, 24M Technologies, and Volkswagen Group to develop next-generation lithium-ion EV batteries utilizing 24M's SemiSolid™ platform. VWAG will invest in 24M and create a subsidiary to advance production technology for these battery cells. This collaboration is pivotal for FREYR, enhancing its long-term strategy to accelerate electric vehicle adoption. FREYR holds a license to produce unlimited battery cells based on 24M's technology, ensuring access to ongoing R&D developments.

FREYR Battery (NYSE: FREY) announced that CEO Tom Einar Jensen will join the delegation of the Crown Prince of Norway during his visit to New York on December 6 and 7. Jensen will participate in a panel discussion focused on financing the green transition at the New York Stock Exchange, alongside other industry leaders. FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025, with a total ambition of 83 GWh by 2028. A joint venture with Koch Strategic Platforms aims for an initial 50 GWh of battery manufacturing capacity in the U.S.

FREYR Battery (NYSE: FREY) has joined the Fair Cobalt Alliance (FCA), emphasizing its commitment to sustainable cobalt sourcing. The FCA aims to promote fair artisanal mining practices in the Democratic Republic of Congo, addressing worker conditions and community development. CEO Tom Einar Jensen highlighted the alliance's importance for safe and sustainable cobalt supply, aligning with FREYR's goal of producing low-cost, low-carbon battery cells. FREYR plans to develop up to 83 GWh of battery cell production capacity by 2028, positioning itself as a key player in Europe's battery industry.

FREYR Battery (NYSE: FREY) has signed a contract with Glencore for up to 1,500 metric tons of sustainably sourced cobalt from Glencore’s Nikkelverk facility in Norway. This agreement follows a previous Letter of Intent from February 2021 and aims to support FREYR’s battery production with recycled cobalt while minimizing carbon footprints. The collaboration will explore further supply opportunities, including nickel and battery scrap recycling. FREYR plans to achieve significant battery cell production capacity by 2025 and aims for a sustainable battery value chain.

FREYR Battery (NYSE: FREY) reported its Q3 2021 financial results, revealing a net loss of $45.4 million or $0.42 per share, an increase from a net loss of $2.5 million or $0.07 per share in Q3 2020. The company is negotiating conditional offtake agreements representing over 150 GWh of demand and has completed concept selection for Gigafactories 1 and 2, aiming for production start in 2H 2023. The formation of a joint venture with Koch Strategic Platforms signals a commitment to developing 50 GWh of battery cells in the U.S. As of September 30, 2021, FREYR had $623.5 million in cash resources.

FREYR Battery (NYSE: FREY) has joined the United Nations Race to Zero campaign by signing the SME Climate Commitment. The company aims to reduce its greenhouse gas emissions by 50% by 2030 and achieve net zero emissions by 2050. FREYR's CEO, Tom Einar Jensen, emphasizes the need for immediate climate action. The SME Climate Commitment is designed to help small and medium enterprises align with climate science. FREYR plans to develop 43 GWh of battery cell production capacity by 2025 and up to 83 GWh by 2028, positioning itself as a major player in Europe's battery supply sector.

FREYR Battery (NYSE: FREY) is set to announce its third quarter 2021 results on November 15, 2021. The press release will be issued at 6:00 AM EST and a conference call will follow at 10:30 AM EST. FREYR aims to develop up to 43 GWh of battery cell production capacity by 2025, and potentially up to 83 GWh by 2028, positioning itself as a major supplier in Europe. The company focuses on clean battery cell production utilizing renewable energy sources, targeting markets for electric vehicles and energy storage.

FREYR Battery (NYSE: FREY) has joined the Business Council for Sustainable Energy (BCSE), enhancing its commitment to clean energy solutions. This membership allows FREYR to advocate for sustainable energy policies and participate in initiatives like the UN Climate Change Conference (COP26). The company aims to develop up to 43 GWh of battery production capacity by 2025, scaling up to 83 GWh by 2028, positioning itself as a leading supplier in Europe. FREYR's activities focus on decarbonization and support for global energy transition efforts.

FREYR Battery (NYSE: FREY) has formed a 50%/50% joint venture with Koch Strategic Platforms to develop a Gigafactory for battery cell production in the U.S. The initiative, backed by a $70 million investment in 24M Technologies, aims to establish an initial capacity of 50 GWh by 2030. Leveraging 24M's SemiSolid™ technology, the JV seeks to enhance supply chain localization and efficiency. This venture is aligned with FREYR's strategy of clean battery production and positions the company for significant growth in the growing energy storage and electric vehicle markets.