Friday, January 21, 2022

Norwegian Freyr considering to build battery plant in Finland

The Norwegian company Freyr is taking the first steps towards the construction of another battery cell factory. The next Factory could be in Finland. Freyr has signed two non-binding letters of intent with the Finnish Minerals Group and the Finnish city of Vaasa.

The letter of intent with the city of Vaasa grants Freyr the exclusive right to a 90-hectare plot of land for the potential battery cell plant. More details, such as potential capacity, are to be determined in the further process. However, Freyr speaks of a planned production “on an industrial scale”. The Nordic region offers competitive advantages for sustainable, low-carbon battery cell production on a large scale through low-cost renewable energy, local supply of battery raw materials and a highly skilled workforce.

“Developing strong regional value chains for the supply of sustainable, low-carbon battery materials to our planned factories in Norway and potential factories in the Nordic region with short-travelled materials is a key element of Freyr’s ambition of providing battery cells produced with the industry’s lowest CO2-footprint and high ESG (Environmental, Social and Governance) standards to all our customers,” comments Torstein Dale Sjøtveit, Founder and Executive Chairman of Freyr.

Freyr is also considering building production capacity in North America through a joint venture with an unnamed “large multinational industrial group”. The North American plans are part of Freyr’s IPO, which is to take place via a merger with Alussa Energy Acquisition Corporation.

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Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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