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FREYR Battery is on a mission to decarbonize energy and transportation systems globally by producing the world’s most sustainable battery cells. About 75% of all carbon mitigation is dependent on batteries. The industry is facing exponential growth.
We will soon be opening the doors to our Customer Qualification Plant, an industrial-scale lithium-ion battery cell factory based on 24M technology, in Norway. 24M technology represents a massive breakthrough in manufacturing technology producing batteries perfectly suited to the exploding stationary storage market.
We are moving fast to build 24M-based gigafactories in Norway and USA with an investment frame of about $2 billion each. We are also going to build gigafactories in Finland, though based on different technology better suited, at this stage, to the car battery market.
FREYR has recently established a technology resources campus and business unit in Japan. The new business unit is the company’s first physical location in Asia and will focus on efforts to facilitate and scale up FREYR’s testing and development of the 24M Technologies (“24M”) battery platform. FREYR’s new facility is located in Fukuoka where the testing equipment is currently being installed.
FREYR’s Japan technology resources unit will primarily be engaged in running electrochemical testing of various materials related to 24M’s technology development, while also providing a platform for the recruitment and hiring of experienced battery engineering talent.