Freer in conversation with a big fish in the United States

Freyr is in talks with a large multinational industrial group about a joint venture (JV) partnership for the potential development of battery manufacturing facilities in North America, according to a report joint press release De Freyr and Alussa Energy Friday.

The goal is an annual production of battery cells of at least 50 gigawatt hours by 2030.

The non-binding letter of intent will provide a framework for Freyr’s collaboration and make it clear that Freyr and the JV partner will work to make certain additional arrangements as part of the JV implementation that will use solutions developed in the States. United 24 Million Technologies in battery manufacturing plants in the North. According to the announcement, the use of 24M processing technology in this project requires an amendment to Freyr’s existing license agreement with 24M.

– natural walking

It is a natural step for us to include North America in our long term plans to increase production of clean, low cost, low carbon battery cells. This ambition was clearly confirmed this week by the US Department of Energy in its call for immediate action to expand the US supply chain for battery materials and technology, said Tom Einar Jensen, CEO of Freyr, in a comment.

As part of the talks, the two sides exchanged draft key negotiating points for a possible joint venture in May. The two sides also stress that there are many basic conditions, both financial and worthy of investment, on which in principle no agreement has been reached. There is also no guarantee that the letter of intent will result in documents binding the joint venture and the terms.