Freyr Battery provides update on operational progress at CQP in Norway

FREYR Battery provided an update this morning on the company’s continued operational progress at the Customer Qualification Plant, or CQP, in Mo i Rana, Norway. FREYR has achieved the interim milestone of automatic electrode casting with solvent slurry. Last week, FREYR’s project execution and operations team demonstrated automated casting with solvent slurry to representatives from Nidec Corporation to validate operational performance of the Casting and Unit Cell Assembly equipment without the constraints of working in a dry room environment. The final remaining process milestones to reach fully automated production at the CQP are: Automated casting with electrolyte slurry in a dry room environment; Complete commissioning and testing of the merging unit to enable fully automated production of cells; FREYR remains on track to meet these milestones to commence fully automated production at the CQP during 4Q; achieving process automation is a key milestone that will position FREYR to produce and ship sample cells to customers including Nidec, which is expected to subsequently catalyze the Giga America project equity farm down process.