FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, announced ahead of today’s inaugural Capital Markets Day that the company has assembled and successfully charged its first semi-automated battery unit cells at the CQP in Mo i Rana, Norway.
Tom Einar Jensen, FREYR’s Co-founder, and Chief Executive Officer, commented “I am delighted with the progress our organization has made to advance and reach key milestones in recent months. The semi-automated assembly and successful testing of our first unit cells is a major achievement for FREYR which paves the way for our operations and technology personnel to ramp process automation, battery cell production, and testing of produced cells to supply our customers with samples in H2 2023. When coupled with an indicated support package from the Norwegian Government for Giga Arctic, continued progress with our financing initiatives for Giga America, and a growing universe of strategic partnerships across an increasingly robust pipeline of customer opportunities and use cases for our products, the remainder of 2023 and beyond holds enormous promise for FREYR and our valued stakeholders.”
As previously communicated, FREYR will host the company’s inaugural Capital Markets Day this morning, June 27th, live from the New York Stock Exchange where additional updates will be provided. The program is scheduled to begin at 10:30 AM EDT/4:30 PM CET and is expected to last approximately 90 minutes. The event will be livestreamed to accommodate virtual attendance on FREYR’s website through the following link: https://freyrcapitalmarketsday.com/
About FREYR Battery
FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in the United States and Vaasa, Finland. FREYR intends to install 50 GWh of battery cell capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh of annual capacity by 2030. To learn more about FREYR, please visit www.freyrbattery.com
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in (i) FREYR’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”) on August 9, 2021, as amended, and (ii) FREYR’s annual report on Form 10-K filed with the Securities and Exchange Commission on March 9, 2022, and available on the SEC’s website at www.sec.gov.
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