Feb 22, 2022

Norwegian Green Platform Initiative awarding $11M to support sustainable battery production FREYR Battery announced that the Research Council of Norway, Innovation Norway, and Siva have granted $11 million (NOK 100 million) through the Norwegian Green Platform initiative to a consortium of companies, including FREYR. The initiative is intended to provide a platform to establish sustainable battery production. The consortium of companies will, together with SINTEF and the Institute for Energy Technology (IFE), initiate the project “Sustainable Materials for the Battery Value Chain” (SUMBAT). The companies will work together to reduce their respective environmental footprints along the entire value chain, from the production of active battery materials to cell production, modeling of battery downgrading, safety and recycling. The Green Platform provides companies and research institutes with support for research- and innovation-driven energy transformation. The project has been thoroughly evaluated, both by national and international experts. The Green Platform Initiative was part of the Government’s third package of financial measures launched in May 2020 in response to the coronavirus pandemic. The Government then granted (US$111 million) billion over a period of three years to a green transition of the industrial sector. It is through research and innovation that we create tomorrow's sustainable society. A green platform is an important measure to ensure profitable green transition and will contribute to us becoming more skilled at scaling up and linking research to the market. With the Green Platform, the policy instruments stimulate more value-creating low-emission industries, jobs and export opportunities. —Minister of Trade and Industry Jan Christian Vestre FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland and the United States. FREYR intends to deliver up to 43 GWh of battery cell capacity by 2025 and up to 83 GWh annual capacity by 2028.