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 feel it’s humorous that FREYR Battery has adopted Tesla’s manufacturing unit naming protocol? I do. Intelligent? Sure.)

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

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

Building on Giga Arctic simply started final month. It’s utilizing the 24M Applied sciences SemiSolidTM manufacturing platform, and it’s going to be 100% powered by hydroelectricity (the main supply of electrical energy in Norway). “Based on a report lately printed by Minviro, a life cycle evaluation firm and impartial third-party commissioned by FREYR, the annual manufacturing on the deliberate Giga Arctic facility in Norway may allow FREYR’s prospects to mitigate 80 million tons of CO2 emissions over the batteries’ lifetime when used for renewable Power Storage Techniques (ESS). The projected emissions mitigation corresponds to virtually twice the entire quantity of CO2 emitted in Norway yearly,” the corporate writes.

“We’re delighted with the information now we have acquired from the EU’s Innovation Fund to assist FREYR’s Giga Arctic venture,” famous CEO Tom Jensen. “This grant is a recognition that batteries characterize the important thing catalyst of the vitality transition supporting regional vitality safety via quicker deployment of renewable vitality. Furthermore, this vital monetary dedication gives well timed assist to continued improvement of the Giga Arctic venture, which is meant to carry 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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