Published by Todd Bush on April 3, 2023
NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) ('FREYR'), a developer of clean, next-generation battery cell production capacity, has announced that the Company has entered into discussions on a potential strategic coalition with Glencore Plc (LN: GLEN), Caterpillar Inc. (NYSE: CAT), Siemens AG (GY: SIE), and Nidec Corporation (TSE: 6594) to pursue the scale up of sustainable battery solutions across Europe, North America, and beyond.
>> In Company Spotlight: Caterpillar Inc
The non-binding alliance may establish guiding principles including:
>> In Other News: MIT Technology Review Insights' Green Future Index 2023 Third Annual Ranking Sees Progress Wavering as Atmospheric Carbon Levels Soar
“We are exceedingly pleased to announce the emergence of this new global strategic coalition with four premier global industrial and energy companies,” commented FREYR’s Co-founder and Chief Executive Officer, Tom Einar Jensen. “This announcement represents an important first step for FREYR and our four potential global partners as we launch this commercial initiative. Ultimately, FREYR’s vision for this coalition is to accelerate the energy transition across key sectors by scaling up clean battery production from FREYR’s gigafactories under development, and to incubate and develop innovative technology solutions together.”
When formally 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.
Representatives from each of the four potential coalition partners will be attending and participating in the program later today during FREYR’s ‘Chapter One’ event inaugurating the opening of the company’s Customer Qualification Plant in Mo I Rana, Norway. The Chapter One event will start at 1:30 pm Central European Time (7:30 am Eastern Daylight Time). A webcast of the prepared remarks will be webcast simultaneously at: https://freyrchapterone.com/ on a listen only basis.
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 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. To learn more about FREYR, please visit www.freyrbattery.com
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💸 Prometheus Slashes Cost of Carbon Capture by More Than 80%, Unlocking Affordable E-Fuels as a New Source of 24/7 Carbon Neutral Power 🌱 Pinwheel Opens Global Call for High-Impa...
Inside This Issue ⚡ The Energy Source That Could Survive Trump’s Attack on California’s Green Ambitions 🌍 Carbon Business Council Expands European Footprint to Support the Continent’s Carbon Remov...
Inside This Issue 💥 North America's $170B Hydrogen Surge: Why 2025 is the Tipping Point ⚙️ First Centrifugal on Board Carbon Capture System Launches 🌾 AgriCapture Rice Methane Reduction Project R...
KLEEN HY-DRO-GEN INC., Announces Launch of World’s first Zero-Emissions Hydrogen Furnace
Hydrogen Tech Company to list on the Canadian Securities Exchange in September 2025 under the Ticker: KLN TORONTO (GLOBE NEWSWIRE) — KLEEN HY-DRO-GEN INC., a Canadian clean energy company, has off...
Following the successful completion of a field demonstration, the new joint venture seeks to develop projects to generate up to 50K metric tons of green methanol annually by 2030 WOBURN, Mass.– Au...
US Player’s Direct Air Capture Hub Moving Toward Operations
Capture trains for Occidental's Stratos shift to commissioning ahead of 2025 startup Occidental’s first direct air capture (DAC) hub is set to begin capturing carbon dioxide later this year, Occid...
Landus Creates New Premium Opportunities with Clean Fuel Regulation Initiative
Farmers can easily enroll their 2025 crop in the program starting in August DES MOINES, Iowa / PRNewswire/ -- Iowa farmers have a new market opportunity for their 2025 soybean crop. Landus is expa...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.