New York and Oslo, Norway and Luxembourg–(business wire)–FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean next-generation battery cell production capabilities, announced the establishment of a technical resource campus and business unit in Japan. This new business unit is the company’s first physical location in Asia and will focus on efforts to expedite and scale up his FREYR testing and development of the 24M Technologies (“24M”) battery platform. FREYR’s new facility will be located in Fukuoka, where the test rig is currently located.
FREYR’s Japan Technical Resources Unit is primarily engaged in performing 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.
“Japan is a global center for battery development and, as a result, home to some of the world’s most experienced and capable lithium-ion battery cell experts.” Our new technical resource business unit in Fukuoka advances FREYR’s clean battery development efforts by expanding laboratory-scale testing capabilities associated with 24M’s platform and providing access to advanced technology and a deep pool of experienced engineering talent I will let you.”
FREYR also hopes that the establishment of the Japan division will help accelerate and support cooperation with other 24M licensing partners and materials and equipment suppliers based in the region.
ABOUT FREYR BATTERIES
FREYR Battery aims to reduce global emissions by providing industrial scale clean battery solutions. Listed on the New York Stock Exchange, FREYR’s mission is to manufacture green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has begun construction of its planned first plant in Mo i Rana, Norway, and has announced the potential development of industrial-scale battery cell production in Vaasa, Finland, and the United States. FREYR plans to deliver a minimum of 50 GWh battery cell capacity by 2025, more than 100 GWh annual capacity by 2028, and more than 200 GWh annual capacity by 2030. For more information on FREYR, please visit www.freyrbattery.com.
Cautionary Note Regarding Forward-Looking Statements
All statements other than statements of current or historical fact contained in this press release. Ability of the new Japan business unit to expedite and scale up the testing and development of the 24M battery platform FREYR. FREYR’s commitment to clean battery development by expanding FREYR’s capabilities for lab-scale testing associated with the 24M platform and providing access to advanced technology and a rich pool of experienced engineering talent Japan’s technology resources business unit’s ability to advance The ability of the Japan Technical Resources Business Unit to perform electrochemical testing of a variety of materials related to 24M’s technology development. It also provides a platform for recruiting and hiring experienced battery engineering talent. The ability of the Japan business unit to accelerate and support collaboration with other 24M licensed partners based in the region and material and equipment suppliers are forward-looking and actual results may differ materially from expectations. It involves certain significant risks and uncertainties. result.
Most of these factors are outside FREYR’s control and are difficult to predict. Information regarding factors that may materially affect FREYR is provided in (i) FREYR’s registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 9, 2021; in the “Risk Factors” section of (ii) FREYR’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 9, 2022 is available at the SEC’s website at www.sec.gov.
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