Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Norwegian battery producer, FREYR and Alussa Energy are negotiating to set up a Li-On battery manufacturing plant in the USA with an undisclosed North American conglomerate as its possible JV partner. 


Under the terms of a draft non-binding memorandum of understanding (MoU) the facility will target an annual capacity of 50 GWh by 2030, noted FREYR on Friday.


The potential joint venture also aims to use U.S.-developed solutions from 24M Technologies (24M) that would require modification to FREYR’s existing 24M license agreement.


Tom Einar Jensen, FREYER’s Chief Executive Officer, stated that the U.S Department of Energy’s recent appeal for immediate actions to scale up the U.S. supply chain for battery materials and technologies has validated the decision. Daniel Barcelo, president, director, and chief executive officer of Alussa Energy added that the partnership aims to bring clean, next-generation battery cell production to the North American market utilizing proprietary U.S.-developed technology.


FREYR is a clean battery solutions specialist based out of Oslo that wants to ramp up its annual capacity to 43GWh by 2025 in Europe. Alussa Energy is an acquisition specialist that facilitates similar partnerships or mergers. 

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