FREYR and 24M sign licensing and services agreement for mass production of Li-ion battery cells; Glencore for raw materials
FREYR AS and 24M Technologies signed a definitive License and Services Agreement to use 24M’s SemiSolid lithium-ion battery platform technology (earlier post) in FREYR’s planned facilities in Mo i Rana, Norway.
FREYR is targeting the development of more than 40 GWh of scalable, modular battery cell production capacity via a phased development approach utilizing deep partnership-based strategies, including in-licensing of next generation technologies. 24M’s SemiSolid platform technology provides opportunities for the production of cost-optimized, application-specific designs in both grid and electric mobility markets.
24M has fundamentally redesigned the traditional LIB cell technology and production platform, delivering higher energy density per battery while enabling substantial reduction in capex, operating costs, CO2 emissions and physical footprint of the manufacturing facility as compared to conventional solutions.
By combining the 24M platform with access to clean, low-cost renewable energy and Norway’s highly skilled engineering-based workforce, we will deliver on our goal of delivering safe, high quality batteries with the lowest cost and carbon content. We are now in the process of accelerating and increasing our ambitions to scale up production for all relevant market segments.—Tom Jensen, the CEO of FREYR
24M has significantly reduced the number of steps required to manufacture traditional battery cells, while still using conventional lithium-ion raw materials. This reduces the capital expenditures and enables substantial operational cost saving while increasing production throughput.
24M’s SemiSolid battery cell simplifies and enables stronger recycling opportunities. The production platform is highly flexible, works across all chemistries and can be re-tooled for various sized batteries and cathode and anode chemistries.
The license agreement provides FREYR with rights to unlimited production of battery cells based on 24M’s current and all future technology. This will enable FREYR to benefit from 24M’s ongoing R&D and integrate future versions of the SemiSolid platform into its production and sales of battery cells into all market segments. FREYR will pay both upfront and running fees to 24M.
FREYR is experiencing strong interest for its battery cell production plans based on this technology and the company has recently announced several initial agreements for industrial scale offtake of battery cells in marine and stationary segments and for long-term supply of battery materials and production equipment. FREYR continues to develop partnerships across the value chain, which will be announced as they are formalized.
FREYR is developing an initial pilot plant, a scalable and modularized 2-25 GWh fast-track facility and a 32 GWh giga-factory using best available technology and globally leading partners powered by low-cost, renewable hydro while also developing a 600 MW wind park.
Glencore. Earlier in December, FREYR and Glencore International AG (Glencore) signed a Memorandum of Understanding (MoU) for the potential supply of ethically sourced and traceable raw materials for inclusion in FREYR’s lithium-ion battery cells, which will be produced at the Mo i Rana plant.
FREYR and Glencore will jointly work to identify requirements and terms for potential supply of raw materials to FREYR’s planned LIB facilities. For example, the companies will consider joint research and development (R&D) projects to adjust the quality, shape or form of Glencore’s raw materials for better fit into FREYR’s operating units.
Additionally, the companies plan to discuss R&D projects for the recycling of lithium batteries. Both companies look forward to discussing how they can enable the transition to a low carbon economy by developing strategies for the use of blockchain technology to improve traceability and transparency of raw materials in the battery supply chain to help document batteries’ life-cycle greenhouse gas emissions.
The companies will also support more responsible artisanal and small-scale cobalt mining in the battery supply chain by supporting development of international standards and traceability schemes for cobalt mining.