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T1 Energy

Transportation · Rana, Norway · Founded 2018 · Public via SPAC 2021

FREYR Battery is a startup that operates in the energy storage and electric vehicle (EV) sectors. The company specializes in the production of battery cells, primarily for EVs and energy storage systems (ESS). FREYR's business model is centered on leveraging advanced technology and a full Nordic supply chain to produce highly competitive battery cells at scale. The company's operations are based in the Mo i Rana industrial complex in Northern Norway, taking advantage of the region's skilled workforce and abundant, low-cost renewable energy supply. FREYR's clients are likely to be manufacturers of EVs and ESS, who require high-quality, cost-effective battery cells. The company's competitive edge lies in its ability to surpass or match industry standards in cycle life, depth of discharge (DoD), round-trip efficiency (RTE), and levelized cost of storage (LCOS). In simpler terms, FREYR's batteries are designed to last longer, perform better, and be more cost-effective than other options on the market. The company has recently achieved a significant milestone by successfully conducting automated cathode casting trials, an important step in the battery production process. FREYR is also planning to expand its operations to the United States, which could potentially increase its market reach and production capacity. In terms of revenue, FREYR likely makes money by selling its battery cells to EV and ESS manufacturers. The company's commitment to sustainability and its ambitious growth plans suggest a strong potential for future profitability. Keywords: Battery Cells, Electric Vehicles, Energy Storage Systems, Nordic Supply Chain, Renewable Energy, Sustainability, Automated Cathode Casting, Expansion, United States, Profitability.