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FREYR Battery establishes technology center in Boston

FREYR Battery, a Nordic developer of clean, next-generation battery cell production capacity, has opened its first US-based technology center in Boston in accordance with the company’s expansion strategy. FREYR is collaborating with its joint venture partners from Koch Strategic Platforms (KSP) to accelerate the development of Giga America, the company’s first US Gigafactory.

In addition to the JV with KSP, which is intended to position the partners among the largest battery manufacturers in the US, FREYR has already established a long-term partnership with 24M Technologies, also based in the Boston area. FREYR’s battery manufacturing process will be initially based on 24M’s SemiSolid platform, which is designed to drive capital and operational efficiencies relative to conventional production methodologies.

The US is a critical strategic market for FREYR. With the recent passage of the Inflation Reduction Act, the US is on a path to accelerate the buildout of clean, localized battery supply chains, which dovetails with our long-term strategy. As we proceed with site selection for Giga America, establishing our first US location in close proximity to our partners at 24M will enhance technology development, collaboration, personnel development, and strategic coordination.

—Tom Einar Jensen, FREYR’s CEO

FREYR’s progress to date in the US includes previously announced conditional offtake agreements with Honeywell and Powin Energy, advancing a rigorous Gigafactory site selection process, and appointments of key personnel including Group CFO, Oscar Brown, and Vice President of Investor Relations, Jeffrey Spittel. With commercial momentum building following the passage of the Inflation Reduction Act, FREYR is now accelerating the development timetable for Giga America.

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 Vaasa, Finland, and the United States. 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.

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