FREYR Battery, a Norwegian-origin company that intends to make energy storage systems at a manufacturing plant in Coweta County, Georgia, announced that has been invited by the U.S. Dept. of Energy to submit Part II of the loan application process for a Title 17 loan.
“The Part II DOE loan application invitation is an important next step in FREYR’s journey to fund our Giga America project,” commented Birger Steen, FREYR’s CEO. “With our redomiciliation to the U.S. now approved by our shareholders, FREYR is uniquely positioned to establish the company as the U.S.-based industrialization partner of choice for clean battery technology solutions and to access the benefits of the U.S. Inflation Reduction Act utilizing the U.S.-based 24M Technologies SemiSolid platform for the manufacture of utility-scale energy storage LFP battery systems.”
The DOE’s invitation to submit the next step of the application is not an assurance that FREYR will receive the loan. FREYR will work on the application during 2024.
FREYR intends to make its battery cells in Norway, Finland and the United States. The company will use 24M Technologies’ semi-solid lithium-iron phosphate technology.
The site in Georgia is expected to have 34-GWh annual cell production capacity, and FREYR will invest $1.7 billion into the site. FREYR and its partners expect to create more than 720 jobs in Georgia.
News item from FREYR