FREYR Battery Provides Operations Update
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FREYR has completed its first production trial of unit cells using the full capabilities of the Casting and
Unit Cell Assembly at the Customer Qualification Plant (“CQP”). With this, FREYR is the first company globally to successfully demonstrate the functionality of giga scale production line equipment for the second generation of the 24M Technologies SemiSolidTM platform.
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This achievement at the CQP positions FREYR as a leading industrialization partner for advanced, novel and
U.S. IP-based Lithium-Ion battery production technologies.
- The CQP team will now move on to producing unit cells using the full automation of the production line equipment in a continuous process. Following that milestone, the teams at the CQP plan to proceed to manufacturing multi-layer pouch battery cells in Q2 2024 for customers while continuously improving the electrochemical and electromechanical performance of the technology platform.
- The FREYR teams at the CQP will continue to fine tune processes before commencing continuous operation to harvest production data and product quality evaluations at scale through powder preparation, slurry mixing, electrode casting, unit cell merge, stacking, pouch singulation, charging, formation and aging.
FREYR conducts successful unit cell production trials at CQP
FREYR’s teams, vendors, and partners at the CQP have reached the Company’s most significant technical milestone to date by producing unit cells with the full functionality of the Casting and
“This is a material step forward for our team at Asset Mo. Having demonstrated our ability to manufacture cells with the next-generation Casting and
Overview of the SemiSolidTM manufacturing process
Unlike conventional lithium-ion battery manufacturing, which involves producing electrodes on separate equipment before assembling them into cells which are subsequently filled with electrolyte, the SemiSolidTM technology employs a continuous and integrated process. The SemiSolidTM process starts with electrode coating and proceeds to electrode stacking. The next-generation SemiSolidTM production line equipment (“PLE”) then creates independent “unit cells,” each containing a cathode, anode, and separator.
The subsequent steps required to produce a complete cell in a pouch – which is a stack of multiple unit cells, have already been developed and validated on the SemiSolidTM platform. As such, today’s announcement that FREYR and its partners have begun producing these unit cells with the full automation of the Casting and
“On behalf of the Mpac team, I extend our congratulations to FREYR on achieving this important milestone,” commented
This production trial was enabled by the successful integration of casting webs across the cathode, anode, and merge units of the Casting and
Next steps at the CQP
Following this successful production trial at the CQP, FREYR is following a three-step road map to producing sample cells in Q2 2024:
- Conduct a cell production trial using a continuous process with no interruptions to fine tune the equipment;
- Surge production speeds for short periods of time to demonstrate GWh scale manufacturing capability for the casting of electrodes; and
- Produce multi-layer, mechanically in-spec pouch battery sample cells in Q2 2024.
“I am proud to report this latest achievement at the CQP,” added
The CQP’s long-range potential
Conventional lithium-ion battery technology is estimated to account virtually all the current global commercial production, with only 6% originating from the
“Today, we have demonstrated the ability of FREYR’s teams and global partners to scale a novel
About
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this letter, including, without limitation, the development, construction, timeline, capacity, and other usefulness of FREYR Battery’s (“FREYR”) production facilities or gigafactories; FREYR’s ability to complete cell production trial using a continuous process, surge production speeds to demonstrate GWh scale manufacturing capability for the casting of electrodes, and to produce multi-layer pouch battery sample cells in its Customer Qualification Plant (“CQP”) and to achieve targeted improvements and the commencement of automated production of sample cells ; FREYR’s ability to complete the technical requirements to stay on track with its anticipated completion cadence at the CQP; FREYR’s ability to carry out any successful future trials, implementation or integration of cathode testing and other technology to reach automated cell production; and the implementation and effectiveness of FREYR’s overall business and technology strategies are forward-looking statements.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside FREYR’s control and are difficult to predict. Additional information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in (i) FREYR’s Registration Statement on Form S-3 filed with the
FREYR intends to use its website as a channel of distribution to disclose information which may be of interest or material to investors and to communicate with investors and the public. Such disclosures will be included on FREYR’s website in the ‘Investor Relations’ sections. FREYR also intends to use certain social media channels, including, but not limited to, X (former Twitter) and LinkedIn, as means of communicating with the public and investors about FREYR, its progress, products, and other matters. While not all the information that FREYR posts to its digital platforms may be deemed to be of a material nature, some information may be. As a result, FREYR encourages investors and others interested to review the information that it posts and to monitor such portions of FREYR’s website and social media channels on a regular basis, in addition to following FREYR’s press releases,
View source version on businesswire.com: https://www.businesswire.com/news/home/20240522357636/en/
Investor contact:
Vice President, Investor Relations
jeffrey.spittel@freyrbattery.com
Tel: (+1) 409 599-5706
Media contact:
Global Head of Communications
amy.jaick@freyrbattery.com
Tel: (+1) 973 713-5585
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