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 💰 Where the $6.5 Trillion Goes: Carbon Tech Fights for Funding 🔋 Douglas PUD Commission Cuts Ribbon At Renewable Hydrogen Production Facility 🍁 Quinbrook Acquires First Canadian ...
Inside This Issue 🌎 Are U.S. Setbacks Fueling a Global Push for Decarbonization? 🛢️ “Grand Bargain” Would Result In More Oils ands Emissions, Not Less 🤝 MOU Signed With JGC Group 🧪 IonQ Quantum Co...
Inside This Issue 🌍 Energy Security Now Drives Decarbonization Faster Than Climate Policy 🐄 Utility Global and Maas Energy Works Announce Agreement to Develop Dairy Digester-to-Hydrogen Mobility P...
AutoMobility LA Expands Fleet Innovation Showcase For 2025
Keynote from Voltera, NAFA Fleet Management Association regional meeting, and leading OEMs highlight the future of zero-emission and connected fleets at LA Auto Show Media Day. AutoMobility LA, th...
Green Plains Announces Startup Of Carbon Capture System At York Facility
OMAHA, Neb. -- Green Plains Inc. (NASDAQ: GPRE) today announced the successful startup of its carbon capture and storage (CCS) equipment in York, Nebraska, marking a key milestone in the expansion ...
Linde Starts Up Supply Of Industrial Gases Near Charleston, TN
HOUSTON -- Linde announced it has started up the supply of industrial gases to serve customers in the Knoxville, Chattanooga and Nashville areas of eastern Tennessee, as well as northern Alabama an...
Siemens Partners With Airbus To Decarbonize Major Industrial Sites In The U.S. And U.K.
Siemens to work toward the decarbonization of four Airbus industrial sites in the U.S. and U.K. as part of Airbus’ program to reduce its operational environmental footprint. The program aims to cut...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.