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FREYR AS, a Norwegian clean battery cell developer, announced that CEO Tom Einar Jensen will meet investors at three upcoming conferences. These include the B Riley Securities Sustainable Energy & Technology Conference on March 9, 2021, the Tudor, Pickering, Holt & Co. Battery Workshop on March 31, 2021, and the UBS Global Energy Transition Call Series on April 16, 2021. Furthermore, FREYR will become publicly listed through a merger with Alussa Energy Acquisition Corp., raising around USD 850 million to boost battery manufacturing capacity in Norway. The combined firm will trade as FREYR on the NYSE.
FREYR AS has secured a NOK 142 million (USD 16.4 million) grant from Norway's Ministry of Climate and Environment via ENOVA SF for its pilot battery cell production facility in Mo i Rana. This facility aims to develop 43 GWh clean battery production by 2025. The construction is set to commence in Q2 2021. FREYR, in partnership with Alussa Energy, is expected to go public, raising approximately USD 850 million to expedite clean battery manufacturing. This initiative aligns with Norway's goals for reduced greenhouse gas emissions and supports the growing demand for electric vehicle technologies.
