A Norway-based battery manufacturer, Freyr Battery, has withdrawn its plans to establish a $2.5 billion factory in Coweta County, Georgia, according to a state official. The proposed facility in metro Atlanta would have been Freyr Battery’s inaugural American plant, expected to generate over 720 jobs and represent a significant investment in the region’s economy.
A spokesperson from the Georgia Department of Economic Development stated, “The State of Georgia has been made aware of Freyr’s decision to discontinue its plans in Coweta County. Georgia’s incentives process protects the Georgia taxpayer, and when a company’s plans change, that process ensures discretionary incentives are repaid. The company and state are working together to ensure that the state grant used for project site acquisition is repaid expeditiously.”
Freyr Battery expressed gratitude for the support received from Coweta County, noting, “We are focusing at the moment on the solar module manufacturing facility in Texas.” This shift in focus marks a strategic realignment for the company within the United States.
The planned factory, announced in 2022, was to occupy a 368-acre site in the Bridgeport Industrial Park off I-85. Governor Brian Kemp highlighted the project’s potential impact, stating that the plant would have significantly bolstered Georgia’s sustainable technology ecosystem. The facility was designed to produce lithium-ion battery cells, essential components for electric vehicles and energy storage solutions.
Local officials in Coweta County conveyed their disappointment over the cancellation but acknowledged the efforts of various stakeholders involved in the project. “We express our sincere appreciation to the County staff, Coweta County Development Authority, and the Georgia Department of Economic Development for their assistance, hard work, and due diligence throughout this whole process,” said a county representative. They also emphasized that the incentives in place are structured to protect taxpayer interests and that the property remains a viable opportunity for future investment and job creation.
The termination of Freyr Battery’s project is a developing story, with ongoing discussions between the company and state officials to address the financial implications of the decision. The community and local authorities remain hopeful for new opportunities that could arise from the available property and existing infrastructure.
Source: Atlanta News First
