FREYR to proceed with construction of Customer Qualification Plant and first battery cell production line; 24M SemiSolid technology
FREYR Battery will proceed with the construction of the Customer Qualification Plant (CQP) and first battery cell production line in Mo i Rana, Norway. The final investment decision (FID) comes after completing the tender processes and allows for the award of contracts for key production equipment supply.
Preparatory work on the facility is already ongoing with a targeted start of initial operations in the second half of 2022.
The CQP production line is based on 24M Technologies Inc.’s SemiSolid lithium-ion battery technology and is designed with flexibility and capacity to meet anticipated demand for samples from targeted customer segments over time. Freyr and 24M signed a licensing agreement in December 2020. (Earlier post.)
The CQP enables implementation of the 24M technology, testing of materials and battery cells and the supply of samples to potential customers across all targeted market segments.
It will further support product optimization and meeting specific customer requirements in the conditional offtake agreements that FREYR plans to negotiate, and is thus strategically important in securing final offtake agreements for the planned development of up to 35 GWh of cost-competitive and clean battery cell production capacity by 2025 in Mo i Rana.
FREYR is also targeting an additional 8 GWh capacity in operations by 2025 via joint ventures in Norway and/or the Nordic region.
The qualification plant will become the first lithium-ion battery cell manufacturing facility at industrial scale in Norway, supporting the core tenets of our strategy of speed, scale and sustainability.—Tom Jensen, the CEO of FREYR
The customer qualification plant is the first of a total of five factories that the Company is planning to build within the area of Mo Industrial Park.