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FREYR Battery targets strategic coalition with Glencore, Caterpillar, Siemens and Nidec

FREYR Battery has entered into discussions on a potential strategic coalition with Glencore, Caterpillar, Siemens and Nidec to pursue the scale-up of sustainable battery solutions across Europe, North America, and beyond.

The non-binding alliance may establish guiding principles including:

  • A shared vision of battery technology as critical to the energy transition;

  • A commitment to scale-up collectively the deployment of batteries in Europe, North America and beyond to support the respective sustainability goals and the decarbonization of customers’ operations;

  • Collaboration on the development of novel solutions and service offerings suited to the low carbon energy system of tomorrow; and

  • Development of robust, sustainable, and circular supply chains for battery materials and technology.

When formed, the strategic coalition of partners should facilitate exploration of mutual areas of interest along the battery value chain. Potential arenas of commercial collaboration include battery cell manufacturing; pack and module integration; digital and software services; mining and refining; power market stationary storage applications; electric transportation; and recycling/end-of-life solutions.


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