Freyr Battery - FREY STOCK NEWS

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.

FREYR Battery (NYSE: FREY) has hired three senior sales professionals for its Energy Storage System (ESS) sales team, enhancing its capabilities in a growing market. Zukui Hu, Valentin Rota, and Guillaume Mancini, all from Tesla, bring extensive experience to their roles. Hu will serve as Vice President Sales, Rota as Sales and Business Development Director, and Mancini as Application Engineering Director. FREYR aims to develop up to 43 GWh of battery cell production capacity by 2025, with ambitions for 83 GWh by 2028, positioning itself as a key player in Europe's battery supply market.

FREYR Battery (NYSE: FREY) reported financial results for Q2 FY2021, revealing a net loss of $8.0 million or ($0.04) per share. The company raised $704 million through its Business Combination with Alussa Energy, aiding its goal to develop up to 43 GWh of battery cell production capacity by 2025. FREYR finalized its investment decision for a Customer Qualification Plant (CQP), expected to begin operations in H2 2022. The firm aims to establish strategic collaborations in the U.S. and Finland to bolster its clean battery cell production capabilities.

FREYR Battery has signed two non-binding MoUs with Finnish Minerals Group and the City of Vaasa to explore the development of large-scale battery cell production in Finland. The company aims to produce up to 43 GWh by 2025 and 83 GWh by 2028, positioning itself as a major European supplier. The partnership includes securing a 90-hectare site in Vaasa for potential battery production. FREYR seeks to build a sustainable supply chain with local materials, supported by Finland’s abundant renewable resources and skilled workforce, while planning to start production in 2025.

FREYR Battery (NYSE: FREY) is set to release its second quarter 2021 financial results on August 12, 2021, at 6:00 AM EDT. The conference call to discuss the results will begin at 8:00 AM EDT. The company is focused on establishing up to 35 GWh of battery cell production capacity in Norway by 2025, aiming to become a major supplier in the European market. This expansion will leverage the country's renewable energy resources and skilled workforce to meet the rising demand for electric vehicles and energy storage solutions.

FREYR Battery has signed a contract with Mpac Lambert for the supply of casting and unit cell assembly equipment for its Customer Qualification Plant in Mo i Rana, Norway. Initially commencing operations in the second half of 2022, this contract marks FREYR's first for critical production line machinery. The partnership aims to industrialize 24M's SemiSolid lithium-ion battery technology, enhancing FREYR's capacity to produce clean, cost-effective battery solutions. FREYR plans to develop up to 35 GWh of battery cell production by 2025, positioning itself as a significant European supplier.