Скачать или смотреть FREYR Battery ($FREY) Approves Expanded Construction of Inaugural Gigafactory in Norway

FREYR Battery, a developer of clean, next-generation battery cell production capacity, has announced the expansion of its planned Giga Arctic project under development in Norway. The expansion plans will increase the planned gigafactory’s nameplate capacity to 29 GWh annually. Groundworks at the site are well advanced and the company has recently started casting foundation structures.

Founder and Executive Chairman of FREYR Torstein Dale Sjøtveit recently commented “Today marks another significant milestone for FREYR on our path to giga-scale production of clean battery solutions. With our expanded plant capacity, accelerating commercial momentum, and strong support from Eksfin, other ECAs and financial institutions, Giga Arctic represents one of Norway’s largest industrial investments onshore in recent decades,”

The sanctioned Giga Arctic construction project includes eight production lines, a battery testing center, administrative facilities, and infrastructure at an estimated total capital cost of $1.7 billion.

The company has engineered Giga Arctic to be the most capital efficient battery plant in Europe, with 50% lower estimated capital expenditures per installed GWh of capacity compared to plants currently in operation or under construction. FREYR is also evaluating additional enhancements to the Giga Arctic development that include module and pack manufacturing, recycling and other applications which could add approximately $250 million of additional capital expenditures.

Shares of FREYR Battery trade on the NYSE under the ticker symbol FREY. For more information visit www.greenstocknews.com

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