FREYR Enters Into Talks On Strategic Coalition With Four Global Energy Companies

(RTTNews) - FREYR Battery (FREY) has entered into discussions on a potential strategic coalition with Glencore Plc (GLEN.L), Caterpillar Inc. (CAT), Siemens AG (SIEGY.PK), and Nidec (NJ) to pursue the scale up of sustainable battery solutions across Europe, North America, and beyond. Potential arenas of commercial collaboration include battery cell manufacturing; pack and module integration; digital and software services; mining and refining; power market stationary storage applications; electric transportation; and recycling/end-of-life solutions.

"FREYR's vision for this coalition is to accelerate the energy transition across key sectors by scaling up clean battery production from FREYR's gigafactories under development, and to incubate and develop innovative technology solutions together," said FREYR's Co-founder and CEO, Tom Einar Jensen.

FREYR's mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway.