T1 Energy Inc. (NYSE: TE)

FREYR Battery, Inc. (FREYR), a company operating in the clean energy and transportation sectors, is dedicated to developing and manufacturing battery cells using licensed SemiSolidTM technology from 24M Technologies, Inc. The company's primary focus is on energy storage systems (ESS), commercial mobility (including marine applications and commercial vehicles), and electric vehicles (EV).

FREYR's business activities encompass the development, production, and commercialization of lithium-iron phosphate (LFP) Li-Ion battery cells. These cells are utilized in various applications, such as ESS, commercial vehicles, and marine applications. The company's operations span across several regions, including the United States and Norway. FREYR's Giga America project is based in Coweta County, Georgia, while its Customer Qualification Plant (CQP) is located in Mo i Rana, Norway.

Revenue for FREYR is generated through the production and sale of LFP Li-Ion battery cells. Its primary products are these cells, which cater to a diverse range of applications. FREYR's customer base consists of leading ESS and energy technology companies, as well as original equipment manufacturers (OEMs) in the automotive and commercial vehicle industries.

Despite not providing specific customer names, FREYR has positioned itself as a top producer of cost-effective, efficient, and environmentally friendly batteries. Its competitive advantages include localized production and supply of batteries, sustainable, low-cost production practices, and a commitment to environmental, social, and governance (ESG) considerations.

FREYR's manufacturing process is based on LFP chemistry and utilizes its licensed SemiSolidTM technology from 24M. The company aims to simplify its manufacturing process and reduce its reliance on inactive raw materials. Additionally, FREYR is working to localize its supply chain by partnering with regional raw material suppliers, such as Statkraft and ITOCHU Corporation.

FREYR's research and development activities are centered on the development of its 24M technology manufacturing process, the startup of manufacturing and process optimization at the CQP, and the exploration of alternative battery chemistries and technologies through partnerships with 24M and other potential partners.

In terms of sustainability, FREYR is committed to achieving gigascale battery production while minimizing its carbon footprint. The company is working to localize its supply chain, reduce emissions, and promote sustainability throughout its value chain.