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.
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FREYR Battery (NYSE: FREY) has reached a major milestone by successfully conducting automated casting trials of electrodes with active electrolyte slurry at the Customer Qualification Plant in Norway. The company expects to make functional battery cells for customer samples using full automation of CQP in H1 2024. FREYR also expects to submit Part 2 of its Title 17 application to U.S. Department of Energy Loan Programs Office in Q1 2024. The year-end 2023 cash and equivalents balance of $275.7 million exceeds previous guidance of $250 million.
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FREYR Battery (NYSE: FREY) will release its fourth quarter and full-year 2023 results and host a conference call on February 29, 2024. The press release will be issued at 6:00 am U.S. Eastern Standard Time, with the conference call scheduled for 8:30 am EST. Access to the call will be provided through various dial-in numbers and a webcast link.
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FREYR Battery, Inc. (NYSE: FREY) completed its redomiciliation from Luxembourg to the United States, with trading of the FREYR Common Stock and Warrants commencing under the same symbols on the New York Stock Exchange. The move aims to enhance shareholder value over the long-term by simplifying corporate structure, streamlining reporting requirements, improving operational efficiencies, and positioning the company to better respond to global tax developments and U.S. incentive programs for battery manufacturers.
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FREYR Battery (NYSE: FREY) has received an invitation from the U.S. Department of Energy to submit the Part II loan application under the DOE Title 17 program for FREYR’s Giga America project. This is a crucial step in the company's capital formation strategy to fund the construction of the Giga America project. FREYR is also engaging with potential investors for project-level equity financing. The company's redomiciliation to the U.S. has been approved by shareholders, positioning FREYR as the U.S.-based industrialization partner for clean battery technology solutions.
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FREYR Battery (NYSE: FREY) announced the approval of all proposals at its Extraordinary General Meeting, paving the way for the company to redomicile from Luxembourg to the United States by year end 2023. The move is expected to enhance shareholder value and provide potential strategic opportunities and benefits. FREYR aims to become the first U.S. based scaling partner of choice for battery technology solutions, with Giga America under initial development in Coweta County, Georgia.
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FREYR Battery (NYSE: FREY) has achieved an important interim milestone by successfully conducting automated cathode casting trials at the Customer Qualification Plant in Mo i Rana, Norway. The company's teams have conducted successful cathode casting runs at fixed nozzle distances of 0.5 mm and 1.0 mm, respectively, and at speeds of 2 meters per minute while using 100 psi of casting pressure. FREYR's top priority is to finalize commissioning at the CQP and to begin automated production of in-spec, customer-testable batteries.
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FREYR Battery (FREY) announces organizational optimizations, including leadership changes to align resources with business priorities. Dr. Andreas Bentzen promoted to Chief Technology Officer, Ryuta Kawaguchi to Chief Strategy Officer & Technical Fellow, and Mike Brose to lead activities in Mo i Rana. Amy Jaick promoted to Head of Global Communications, and Jan Dahm-Simonsen to lead global human resources. The new structure aims to position FREYR as a U.S. based technology leader in the battery solutions industry, focusing on technology development and GWh production.
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FREYR Battery (FREY) appoints Jessica Wirth Strine, a U.S.-based executive with extensive experience in the capital markets and sustainable governance, to its Board of Directors. Olaug Svarva steps down as independent director. With the re-domiciliation process to the U.S. underway, this transition marks a significant step in FREYR's strategic development.
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FREYR Battery (NYSE: FREY) Published Shareholder Letter Encouraging Redomiciliation to the U.S. and Providing Updates on Technology and Strategy
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FREYR Battery (NYSE: FREY) reported Q3 2023 financial results, highlighting delays in commissioning equipment at the Customer Qualification Plant. The company ended Q3 with $328 million in cash and no debt, expects to exit 2023 with $250 million in cash, and is implementing cost rationalization initiatives to extend cash runway. FREYR plans to minimize spending on the Giga Arctic project in 2024 and is engaging with potential financial sponsors and strategic partners.
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FAQ
What is the current stock price of FREYR Battery (FREY)?
The current stock price of FREYR Battery (FREY) is $0.9631 as of October 10, 2024.
What is the market cap of FREYR Battery (FREY)?
The market cap of FREYR Battery (FREY) is approximately 132.4M.
What is FREYR Battery, Inc.?
FREYR Battery, Inc. is a Norwegian company developing sustainable lithium-ion battery solutions for electric mobility, stationary energy storage, marine, and aviation applications.
Where is FREYR Battery located?
FREYR Battery is headquartered in Norway, with key facilities in the Rana and Nesna municipalities.
What are FREYR Battery's main projects?
FREYR Battery is developing a 32+2 GWh lithium-ion battery facility and a 600 MW onshore wind park in Norway.
What markets does FREYR Battery target?
FREYR Battery targets the EV market, marine, stationary storage, short-haul aviation, and offshore segments.
How does FREYR Battery contribute to sustainability?
FREYR Battery produces high-density, cost-effective lithium-ion batteries with a reduced carbon footprint, powered by renewable energy sources.
Who are FREYR Battery's collaborators?
FREYR Battery collaborates with leading Norwegian and European institutions and companies through cluster-based R&D initiatives.
What is the significance of FREYR Battery's wind park project?
The 600 MW onshore wind park underscores FREYR Battery's commitment to using renewable energy to power its operations sustainably.
How does FREYR Battery impact the EV market?
FREYR Battery provides high-density, cost-effective lithium-ion batteries designed to meet the growing demands of the EV market.
What is the capacity of FREYR Battery's lithium-ion battery facility?
The facility has a combined capacity of 32+2 GWh, aiming to produce sustainable and efficient battery solutions.
Why is FREYR Battery considered an emerging leader in the battery industry?
FREYR Battery's innovative approach, commitment to sustainability, and strategic collaborations position it as a key player in the battery industry.
FREYR Battery, Inc.
NYSE:FREY
FREY Rankings
FREY Stock Data
132.44M
140.49M
24.12%
35.43%
8.56%
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