FREYR Battery (now T1 Energy Inc)

FREYR Battery (NYSE: FREY) specializes in sustainable lithium-ion batteries using its SemiSolid™ technology. Founded in 2018, the company accelerates renewable energy and electric vehicle adoption by leveraging renewable power in manufacturing, aiming to produce over 200 GWh annually by 2030.

Company Location

Country:

Norway

City:

Mo i Rana

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Company Overview

FREYR Battery (now T1 Energy Inc) is a clean energy solutions provider specializing in sustainable lithium-ion battery cell production. Founded in 2018, the company aims to accelerate the transition to renewable energy and sustainable transportation through cost-competitive, semi-solid technology-driven manufacturing using renewable energy, primarily hydroelectric power, to minimize carbon footprint. Headquarters in Mo i Rana, Norway.

Battery Technology

Core SemiSolid™ platform integrating electrode coating and stacking to produce independent unit cells with cathodes, anodes, and separators. Process maximizes efficiency and safety with advanced automation and quality control, powered by 100% renewable energy. Roadmap targets production capacity exceeding 200 GWh annually by 2030, validated at the Customer Qualification Plant in Norway.

Products

Lithium-ion battery cells engineered for energy storage systems (ESS) and commercial mobility solutions, produced using SemiSolid™ technology powered by renewable energy, featuring high safety standards and consistent performance.

Recent Projects

Acquired Trina Solar’s 5 GW U.S. manufacturing facility in Wilmer, Texas (operations began 2024, full capacity by 2025); developing a 5 GW solar cell plant (construction in 2025, production in 2026) creating ~1,800 direct jobs.

Investors

It went public through a business combination with Alussa Energy Acquisition Corp valued at $1.4B. The transaction sponsor was Encompass Capital Advisors LLC. The company is listed on the New York Stock Exchange.

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