Welcome to our dedicated page for FREYR Battery news (Ticker: FREY), a resource for investors and traders seeking the latest updates and insights on FREYR Battery stock.
FREYR Battery, Inc. (symbol: FREY) is a forward-thinking company headquartered in Norway, dedicated to producing clean and sustainable battery solutions. As an emerging leader in the lithium-ion battery industry, FREYR Battery is developing a combined 32+2 GWh lithium-ion battery facility and a 600 MW onshore wind park in the Rana and Nesna municipalities in Norway. These projects highlight the company's commitment to leveraging renewable energy sources to power its operations.
The company's primary focus is to cater to the burgeoning electric vehicle (EV) market in Europe, aiming to provide high-density and cost-effective battery solutions with a reduced carbon footprint. In addition to EVs, FREYR Battery's products are designed for various applications, including marine, stationary energy storage, short-haul aviation, and offshore segments. The company collaborates with leading Norwegian and European institutions and companies through cluster-based R&D initiatives to innovate and enhance its product offerings.
FREYR Battery's strategic projects and partnerships underscore its commitment to sustainability and innovation. By combining renewable energy with advanced battery technology, the company is poised to contribute significantly to the global transition towards cleaner energy solutions.
FREYR Battery (NYSE: FREY) has signed a reservation agreement with Changzhou Senior New Energy Materials Co., Ltd. and Senior Material (Europe) AB for the supply of separator materials for its Customer Qualification Plant and upcoming Gigafactories in Norway. The agreement ensures sufficient supply through 2028, with an option to extend to 2031. This partnership aims to enhance local sourcing and minimize carbon emissions, aligning with FREYR's mission to produce clean battery solutions. The material capacity reservations begin in 2023.
FREYR Battery announced the resignation of board member German Curá, effective by August 1, 2022. Curá stepped down for personal reasons and had no disagreements with the company. The Chairman, Torstein Dale Sjøtveit, expressed gratitude for Curá's contributions. FREYR Battery is focused on providing clean battery solutions to reduce global emissions, with plans to deliver up to 43 GWh of battery cell capacity by 2025 and 83 GWh by 2028 as it builds factories in Norway and explores expansions in Finland and the U.S.
FREYR Battery (NYSE: FREY) has signed a binding Heads of Terms with Statkraft, Europe's largest renewable energy producer, to secure a long-term supply of renewable power for its battery cell production project in Mo i Rana, Norway. The agreement is projected to fulfill FREYR's electricity needs from 2024 to 2031, providing up to 23 MW baseload power, totaling 1.4 TWh over the contract period. This deal supports FREYR's commitment to producing clean battery cells and minimizing its carbon footprint by utilizing local hydropower resources.
FREYR Battery (NYSE: FREY) announced its 2022 Annual General Meeting (AGM) set for June 15, 2022, at 3:00 PM CET, to be held via video conference from Luxembourg. The company also released its 2021 Annual Report, containing insights on its commitment to Environmental, Social, and Governance (ESG) practices. FREYR aims to produce green battery cells to drive decarbonization, with plans for up to 43 GWh of battery cell capacity by 2025 and 83 GWh by 2028. The report and AGM documents are accessible through the company's website.
FREYR Battery (NYSE:FREY) has signed a temporary land lease for 130 hectares in Vaasa, Finland, aimed at establishing a battery cell production plant. This lease is 40 hectares larger than a previous agreement, reflecting efforts to boost the supply of clean battery solutions. The lease, effective from May 1, 2022, to December 31, 2023, allows for soil investigations ahead of potential construction. FREYR plans to produce up to 83 GWh of battery capacity by 2028, supporting global decarbonization efforts.
FREYR Battery (NYSE: FREY) reported Q1 2022 results, highlighting significant milestones in its clean battery cell production. The company secured conditional offtake agreements with major entities, including a 28.5 GWh deal with Powin LLC and additional agreements totaling 25 GWh for energy storage systems. FREYR commenced pre-construction for its Gigafactory in Norway and is actively negotiating further agreements that could add 100 GWh in demand. Despite a net loss of $34.9 million, the company holds $524.6 million in cash, positioning it well for upcoming growth ambitions.
FREYR Battery (NYSE: FREY) has entered a conditional agreement with Powin LLC to supply 28.5 GWh of battery cells for energy storage systems from 2024 to 2030. The cells will initially be sourced from FREYR’s Gigafactory in Norway and later from its upcoming U.S. Gigafactory. This agreement marks a significant commercial milestone, raising FREYR's total offtake volumes to 78.8 GWh, over 67% of its Gigafactory’s projected capacity. The collaboration aims to support clean energy transitions with cost-competitive, low CO2 lithium-ion batteries.
FREYR Battery (NYSE: FREY) announced CEO Tom Einar Jensen's participation in the Norwegian royal delegation visiting Stockholm, Sweden, from May 2-4. The delegation aims to strengthen collaboration between Norway and Sweden in the clean battery sector, focusing on sustainable energy solutions and the development of a robust battery industry. Jensen emphasized the importance of public-private partnerships for the battery value chain, highlighting ongoing operations in Norway and plans for sustainable production to meet growing demand for green energy solutions.
FREYR Battery (NYSE: FREY) will announce its first quarter 2022 results on
FREYR Battery (NYSE: FREY) has appointed Andreas Bentzen as its new Executive Vice President of Technology, effective September 1. Bentzen, previously the Co-Founder and CTO of Otovo, brings extensive experience in renewable energy and technology. His role will be crucial as FREYR progresses towards initial production and aims to reach ambitious growth targets in the battery cell industry. FREYR is focused on delivering 43 GWh of battery cell capacity by 2025 and 83 GWh by 2028, emphasizing a commitment to clean energy solutions.
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