FREYR Battery Wins €100 Million Innovation Award

FREYR Battery is a Norway-based battery firm aiming to construct a battery cell gigafactory within the northerly, renewably powered, EV-loving nation. The excellent news for the corporate is that it has simply acquired a €100 million grant from the European Union Innovation Fund to assist construct “Giga Arctic.” (Do I believe it’s humorous that FREYR Battery has adopted Tesla’s manufacturing facility naming protocol? I do. Intelligent? Sure.)

I interviewed FREYR CEO and cofounder Tom Jensen earlier this yr to speak concerning the firm’s plans in addition to the battery market total. It’s a captivating dialogue that I like to recommend listening to:

You may also learn a abstract and a few highlights from that 40-minute interview right here. We additionally reported on the corporate’s first important order or offtake settlement on the finish of 2021. FREYR Battery additionally plans to provoke battery cell manufacturing in the USA and Finland (and possibly different locations not but introduced).

Development on Giga Arctic simply started final month. It’s utilizing the 24M Applied sciences SemiSolidTM manufacturing platform, and it’ll be 100% powered by hydroelectricity (the key supply of electrical energy in Norway). “In keeping with a report not too long ago revealed by Minviro, a life cycle evaluation firm and unbiased third-party commissioned by FREYR, the annual manufacturing on the deliberate Giga Arctic facility in Norway might allow FREYR’s prospects to mitigate 80 million tons of CO2 emissions over the batteries’ lifetime when used for renewable Vitality Storage Techniques (ESS). The projected emissions mitigation corresponds to nearly twice the overall quantity of CO2 emitted in Norway yearly,” the corporate writes.

“We’re delighted with the information we have now acquired from the EU’s Innovation Fund to assist FREYR’s Giga Arctic mission,” famous CEO Tom Jensen. “This grant is a recognition that batteries symbolize the important thing catalyst of the vitality transition supporting regional vitality safety via quicker deployment of renewable vitality. Furthermore, this important monetary dedication gives well timed assist to continued growth of the Giga Arctic mission, which is meant to convey clear battery merchandise to our prospects and companions throughout Europe. We stay up for working with the EUIF in addition to the Norwegian Authorities to unlock additional momentum for subsequent technology battery manufacturing capability at GWh scale in Norway.”

The extra gigafactories, the merrier.

Featured picture from FREYR Battery.


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