Freyr Battery (Frey): Analyse du Pestle [Jan-2025 Mise à jour]

Dans le paysage rapide en évolution de l'énergie propre et de la mobilité électrique, la batterie Freyr émerge comme un joueur charnière naviguant une dynamique mondiale complexe. Cette analyse complète du pilon dévoile le réseau complexe de facteurs politiques, économiques, sociologiques, technologiques, juridiques et environnementaux façonnant la trajectoire stratégique de l'entreprise. Des technologies révolutionnaires de la batterie aux incitations transformatrices du gouvernement, Freyr Battery se tient à l'intersection de l'innovation, de la durabilité et des perturbations du marché, promettant de redéfinir l'avenir du stockage d'énergie et du transport électrique.

Freyr Battery (Frey) - Analyse du pilon: facteurs politiques

Incitations du gouvernement américain pour la fabrication de véhicules électriques et de batterie

La loi sur la réduction de l'inflation fournit 369 milliards de dollars pour les investissements en énergie propre, avec des incitations spécifiques à la fabrication de batteries.

Catégorie d'incitation	Fonds totaux alloués	Crédit d'impôt de fabrication de batteries
Fabrication d'énergie propre	60 milliards de dollars	Jusqu'à 35 $ par kWh pour la production cellulaire de batterie

Support géopolitique pour la production de batterie domestique

Le ministère américain de l'Énergie a commis 3,5 milliards de dollars de subventions pour augmenter les capacités de fabrication de batteries intérieures.

• Objectif stratégique pour réduire la dépendance à l'égard des fabricants de batteries asiatiques
• Cible: 80% de chaîne d'approvisionnement de batterie domestique d'ici 2030
• L'accent mis sur la réduction de la domination du marché chinois des batteries

Défis réglementaires potentiels

Zone de réglementation	Impact potentiel	Exigences de conformité
Transfert de technologie transfrontalière	Contrôles d'exportation stricts	CFIUS Revue obligatoire
Protection IP de technologie de la batterie	Processus de dépistage améliorés	Divulgation de la technologie obligatoire

Initiatives du gouvernement sur l'énergie propre

Les objectifs d'énergie propre de l'administration Biden comprennent 100% d'électricité sans carbone d'ici 2035.

• 7 500 $ de crédit d'impôt pour les véhicules électriques admissibles
• Crédit supplémentaire de 3 750 $ pour les batteries produites au pays
• Besoin: 50% des composants de la batterie fabriqués en Amérique du Nord

La batterie Freyr peut potentiellement être qualifiée Crédit d'impôt de production de 45 $ par kWh En vertu des directives fédérales actuelles.

Freyr Battery (Frey) - Analyse du pilon: facteurs économiques

Demande mondiale croissante de batteries de véhicules électriques et de solutions de stockage d'énergie

La taille du marché mondial des batteries de véhicules électriques a atteint 55,7 milliards de dollars en 2022 et devrait atteindre 146,1 milliards de dollars d'ici 2028, avec un TCAC de 17,4%.

Segment de marché	Valeur 2022	2028 Valeur projetée	TCAC
Marché mondial de la batterie EV	55,7 milliards de dollars	146,1 milliards de dollars	17.4%

Investissements importants dans l'infrastructure de fabrication de batteries

Les dépenses en capital total de Freyr Battery pour les infrastructures de fabrication de batteries ont été de 200 millions de dollars en 2023, avec des investissements prévus de 500 millions de dollars à 2025.

Année d'investissement	Dépenses en capital	Emplacement de fabrication
2023	200 millions de dollars	Mo I Rana, Norvège
2024-2025	500 millions de dollars	Plusieurs sites

Défis économiques potentiels de la volatilité de la chaîne d'approvisionnement et des coûts des matières premières

Les prix du carbonate de lithium ont fluctué de 81 000 $ par tonne métrique en janvier 2023 à 26 000 $ par tonne métrique en décembre 2023, ce qui représente une réduction des prix de 68%.

Matière première	Prix ​​de janvier 2023	Prix ​​de décembre 2023	Changement de prix
Carbonate de lithium	81 000 $ / tonne métrique	26 000 $ / tonne métrique	-68%

Opportunités de marché émergentes dans les secteurs du stockage des énergies renouvelables

Le marché mondial du stockage d'énergie devrait atteindre 435,9 milliards de dollars d'ici 2030, avec un TCAC de 22,4% de 2022 à 2030.

Segment de marché	Valeur 2022	2030 valeur projetée	TCAC
Marché mondial du stockage d'énergie	97,3 milliards de dollars	435,9 milliards de dollars	22.4%

Freyr Battery (Frey) - Analyse du pilon: facteurs sociaux

Sensibilisation des consommateurs et demande de technologies de transport durables

Les parts de marché des véhicules électriques (EV) aux États-Unis ont atteint 7,6% en 2022, ce qui représente une augmentation de 65% par rapport à 2021. Le volume mondial des ventes de véhicules électriques a atteint 10,5 millions d'unités en 2022, une croissance de 55% par rapport à 2021.

Région	Part de marché EV 2022	Croissance d'une année à l'autre
États-Unis	7.6%	65%
Europe	20.3%	29%
Chine	30.1%	93%

L'intérêt croissant de la main-d'œuvre pour la technologie verte et les carrières d'énergie propre

Le secteur de l'emploi Clean Energy a employé 12,7 millions de travailleurs dans le monde en 2022, la fabrication de batteries représentant 1,2 million d'emplois dans le monde.

Catégorie de travaux d'énergie propre	Total des emplois mondiaux 2022
PV solaire	4,3 millions
Fabrication de batteries	1,2 million
Énergie éolienne	2,4 millions

L'accent croissant sur la réduction de l'empreinte carbone dans toutes les industries

Les engagements de durabilité des entreprises ont augmenté, 70% des sociétés du Fortune 500 fixant des objectifs d'émissions nets-zéro d'ici 2050.

Métrique de la durabilité des entreprises	Pourcentage
Les entreprises avec des cibles nettes-zéro	70%
Les entreprises signalant des émissions de carbone	85%

Tendances sociales soutenant l'électrification des transports et des énergies renouvelables

Le soutien du public aux énergies renouvelables a atteint 82% aux États-Unis, avec 67% soutenant l'adoption accrue des véhicules électriques.

Catégorie de support public	Pourcentage
Support d'énergie renouvelable	82%
Support d'adoption de véhicules électriques	67%
Prise en charge du recyclage de la batterie	74%

Freyr Battery (Frey) - Analyse du pilon: facteurs technologiques

Développement de technologie de cellules de batterie avancée pour améliorer la densité d'énergie

Freyr Battery développe une technologie de cellules de la batterie avec une densité d'énergie cible de 350 WH / kg d'ici 2025. L'installation de production de batterie planifiée de la société à Mo I RANA, en Norvège, aura une capacité de production annuelle initiale de 43 GWh, passant à 86 GWh d'ici 2025 .

Métrique technologique	Performance actuelle	Performance cible
Densité énergétique	250 wh / kg	350 wh / kg d'ici 2025
Capacité de production annuelle	43 gwh	86 GWh d'ici 2025

Investissements dans des capacités de recherche et de fabrication sur les batteries à l'état solide

Freyr a engagé 50 millions de dollars pour la recherche et le développement de la batterie à l'état solide grâce à des partenariats technologiques stratégiques. Les investissements en R&D de l'entreprise se concentrent sur la réduction des coûts de production de batterie à moins de 60 $ par kWh d'ici 2026.

Catégorie d'investissement de R&D	Montant d'investissement	Réduction des coûts cible
Recherche de batteries à semi-conducteurs	50 millions de dollars	Coût de la batterie <60 $ / kWh d'ici 2026

Innovation continue dans les performances de la batterie et la réduction des coûts

La feuille de route technologique de Freyr indique une réduction projetée de 40% des coûts de production cellulaire de batterie entre 2023 et 2026. La technologie de batterie lithium-ion de la société cible une durée de vie cyclable de 4 000 cycles de charge de charge avec une rétention de capacité de 80%.

Métrique de performance	Performance actuelle	Performance cible
Réduction des coûts de production	Base de base 2023	40% de réduction d'ici 2026
Durée de vie du cycle de batterie	3 000 cycles	4 000 cycles avec une capacité de 80%

Partenariats technologiques stratégiques

Freyr a établi des accords de collaboration technologique avec Equinor et Freudenberg E-Power Systems. Le partenariat avec Freudenberg implique un investissement conjoint de développement de 25 millions de dollars pour améliorer les technologies de fabrication de cellules de batterie.

Partenariat	Partenaire	Investissement	Domaine de mise au point
Collaboration technologique	Équineur	Non divulgué	Développement de la technologie des batteries
Développement conjoint	Systèmes E-puissance Freudenberg	25 millions de dollars	Amélioration de la technologie de fabrication

Freyr Battery (Frey) - Analyse du pilon: facteurs juridiques

Conformité aux réglementations environnementales internationales de fabrication de batteries

Freyr Battery adhère aux réglementations environnementales internationales suivantes:

Règlement	Détails de la conformité	Coût de la mise en œuvre
Régulation de la batterie de l'UE (UE) 2023/1542	Déclaration d'empreinte carbone requise	3,2 millions de dollars
Directive ROHS 2011/65 / UE	Limites de substances dangereuses restreintes	1,7 million de dollars
Règlement (CE) 1907/2006	Enregistrement de substances chimiques	2,5 millions de dollars

Navigation de paysages complexes de propriété intellectuelle dans la technologie des batteries

Portfolio de brevets de la batterie de Freyr:

Catégorie de brevet	Nombre de brevets	Investissement total
Conception de cellules de la batterie	37	12,6 millions de dollars
Processus de fabrication	24	8,3 millions de dollars
Chimie de batterie	19	6,9 millions de dollars

Règlements potentiels d'exportation / importation affectant la fabrication et la distribution de batteries

Clé des métriques d'exportation / d'importation:

Règlement	Coût de conformité	Impact annuel
Règlement sur le trafic international américain (ITAR)	1,4 million de dollars	Restreint les exportations de technologie de batterie avancée
Restrictions d'exportation de batterie en Chine	2,1 millions de dollars	25% des frais de conformité supplémentaires
Exigences de passeport de la batterie de l'UE	3,6 millions de dollars	Documentation numérique obligatoire

Réponse des normes de sécurité strictes pour la production et le transport de batteries

Cadre de conformité en matière de sécurité:

Norme de sécurité	Coût de certification	Niveau de conformité
Test de transport de l'ONU 38.3	$750,000	Compliance à 100%
IEC 62619 Standard de sécurité	1,2 million de dollars	Certification complète
UL 1973 Standard	$980,000	Validation complète

Freyr Battery (Frey) - Analyse du pilon: facteurs environnementaux

Engagement envers les processus de fabrication de batteries durables

Freyr Battery s'est engagé à établir un Installation de fabrication de batteries à faible teneur en carbone À Mo I Rana, en Norvège, tirant parti de la puissance hydroélectrique renouvelable à 100% pour la production.

Source d'énergie renouvelable	Pourcentage de la consommation d'énergie	Réduction annuelle de CO2
Puissance hydroélectrique	100%	Estimé 50 000 tonnes métriques

Réduire l'empreinte carbone dans la production de batteries et la chaîne d'approvisionnement

La batterie Freyr cible un processus de production de batterie neutre en carbone D'ici 2030, avec une intensité de carbone actuelle à 20 kg de CO2 par MWh de production de batterie.

Cible de réduction du carbone	Intensité de carbone actuelle	Année cible
Neutralité du carbone	20 kg CO2 / MWH	2030

Concentrez-vous sur les technologies de batterie recyclables et respectueuses de l'environnement

La batterie Freyr se développe technologies de batterie lithium-ion avec une recyclabilité accrue et une réduction de l'impact environnemental.

• Taux de recyclage de la batterie cible: 90% d'ici 2030
• Utilisation de chimies de batterie sans cobalt
• Approche de l'économie circulaire dans la gestion du cycle de vie des batteries

Alignement avec les objectifs mondiaux de transition de durabilité et d'énergie propre

Freyr Battery prend en charge les efforts mondiaux de décarbonisation grâce à des technologies avancées de batterie pour les véhicules électriques et les systèmes de stockage d'énergie.

Application de la batterie	Capacité de production annuelle projetée	Potentiel de réduction des émissions de CO2
Batteries de véhicules électriques	43 GWh d'ici 2025	Estimé 1,2 million de tonnes métriques

FREYR Battery (FREY) - PESTLE Analysis: Social factors

You're navigating a complex social landscape right now, balancing commitments to the Norwegian community with the financial pull of US incentives. The social perception of FREYR Battery hinges heavily on successfully translating the technology proven in Norway into the scale required in Georgia.

Shift in focus from Norway to the US impacts local job creation expectations in Mo i Rana

The strategic pivot toward the US, driven by incentives like the Inflation Reduction Act, has significantly altered the employment outlook in Mo i Rana, Norway. After pausing Giga Arctic cell production in late 2024 due to intense price competition from China, FREYR Battery announced considerable workforce reductions there, shifting the focus in Norway to R&D and module packaging. The original vision for Giga Arctic involved a staff of about 1,500 in Mo i Rana, but the current reality centers on a much smaller team focused on innovation. Still, the company maintains that Mo i Rana remains the best location in Norway for battery production, and the local community, which hosts over 18 nationalities, is working on social integration plans.

Growing consumer and industrial demand for sustainable, domestically-sourced battery storage

The market appetite for clean, locally-sourced energy storage is definitely strong, which is a tailwind for FREYR Battery's US ambitions. In the US, the demand for large-scale Battery Energy Storage Systems (BESS) is expected to keep climbing in 2025, especially in states like Texas and California, where integrating renewables is critical. Globally, the Commercial and Industrial (C&I) ESS market is also set for sustained growth in 2025, fueled by policy support and the push for green energy. The U.S. Energy Information Administration projects that renewable energy generation will increase by 25%, which directly translates to a higher need for reliable battery storage to maintain grid stability.

Workforce development challenges in scaling up a highly specialized battery manufacturing team

Scaling up a high-tech battery operation like Giga America means you need people with very specific skills, and that's a major hurdle across the industry. As of early 2025, 60% of battery manufacturers report skills shortages in both battery technology and manufacturing. The complexity of the technology-especially for next-generation cells-means that upskilling and reskilling the workforce is a global challenge for the sector. For FREYR Battery, successfully attracting and retaining talent will be crucial to meeting the projected growth in the US, where the domestic battery industry could create between 84,000 and 125,000 jobs by 2032.

Public perception tied to successful validation and scale-up of the SemiSolid technology

Public and investor confidence is intrinsically linked to proving that the SemiSolid technology, which FREYR Battery is betting on, works reliably at an industrial scale. The company completed the first production trial of these unit cells at the Customer Qualification Plant (CQP) in Mo i Rana in May 2024. The CQP's entire purpose is to demonstrate that this technology, which promises lower energy consumption and a smaller footprint, is viable at GWh-scale. If FREYR Battery can replicate the CQP success in its Giga America facility, which is slated to start production around 2026, public perception will solidify around its technological differentiation. Any delay in demonstrating commercial viability, however, feeds into the narrative of market uncertainty.

Here's a quick look at some key social and workforce metrics impacting the sector:

Metric	Data Point / Estimate (2025 Context)	Source Relevance
Industry Skills Shortage	60% of organizations face shortages in battery tech/manufacturing
Projected US Battery Jobs (by 2032)	84,000 to 125,000 domestic jobs
US Renewable Energy Growth Driver	Projected 25% increase in renewable generation driving BESS need
Mo i Rana Original Giga Arctic Staff Plan	Approx. 1,500 staff planned

What this estimate hides is the specific recruitment challenge for the highly specialized roles needed for the SemiSolid process itself, which requires a different skill set than traditional cell manufacturing.

Finance: draft 13-week cash view by Friday

FREYR Battery (FREY) - PESTLE Analysis: Technological factors

You're betting the entire future of FREYR Battery on a novel manufacturing process, which is a high-stakes gamble in a sector dominated by established giants. The core technology, the 24M SemiSolid platform, promises a leaner, greener way to make cells, but the proof is in the production yield, not just the lab results.

Reliance on 24M Technologies' SemiSolid platform for higher energy density and lower cost

FREYR Battery's strategy hinges on the 24M Technologies SemiSolid platform, which is designed to be fundamentally simpler than traditional lithium-ion manufacturing. The key differentiator is that the electrolyte is added at the very start of the process, which means you skip the energy-intensive step of drying the electrodes after solvent application. Honestly, this process simplification is what should drive down capital expenditure (capex) and operational costs per kilowatt-hour (kWh) over time. While 24M has seen its technology commercialized in the Japanese residential energy storage market by Kyocera, the real test is replicating that success at GWh scale in the demanding EV and large-scale ESS markets. 24M's electrode-to-pack (ETOP) system was targeting ESS applications as early as 2025, aiming for the highest energy density available at the pack level while cutting costs.

Need for rapid validation and de-risking of the technology at the Customer Qualification Plant (CQP)

The Customer Qualification Plant (CQP) in Mo i Rana, Norway, is your crucial bridge from concept to commercial viability. You needed to prove the 24M technology could work at scale, and by mid-2024, you hit a major milestone by producing unit cells in a continuous process using the fully automated Casting and Unit Cell Assembly machinery. This achievement, which came after completing 94% (363 of 388) of the discrete equipment commissioning packages, was essential. Why? Because converting those conditional offtakes-which total approximately 130 GWh of cumulative capacity and could translate to $9 to $10 billion in potential revenue-into financeable, binding commitments absolutely required delivering B-sample cells produced with full automation. If onboarding takes 14+ days, churn risk rises.

Competition from established Asian battery makers (CATL, LG Energy Solution) with proven gigafactory scale

While you are de-risking a new platform, the competition is already operating at massive scale, which is a tough reality to face. Contemporary Amperex Technology Co. Limited (CATL) was the undisputed global leader, commanding a 36.8% market share in 2024 with 339.3 GWh of installed capacity in new EVs alone. LG Energy Solution, on the other hand, had a stated goal to expand its total annual production capacity up to 540 GWh by 2025. To put this into perspective, here is a quick look at the scale difference based on recent performance data:

Metric	CATL (2024/H1 2024 Data)	LG Energy Solution (2025 Target/H1 2024 Data)	FREYR Battery (Target/Validation Focus)
Global Market Share (2024)	36.8%	Implied lower than CATL/BYD combined share	N/A (Pre-commercial)
H1 2024 Revenue	166.77 billion yuan	Approx. 65 billion yuan	N/A (Pre-revenue)
Wholesale LFP Cell Cost (2025 Estimate)	$67/kWh	Not specified	Targeting lower cost via process simplification
Projected Annual Capacity	Far exceeding 339 GWh (2024 EV)	540 GWh (by 2025)	Initial GWh scale validation at CQP

What this estimate hides is that CATL's operational efficiency, evidenced by a 29.65% gross profit margin on its overseas business in H1 2024, is built on years of iterative, high-volume refinement. You need to catch up fast.

Automation and process control are critical to achieving target production yields and cost structures

The transition from successful trials to commercial production is where process control separates the winners from the rest. The 24M process, by being more automated, inherently requires fewer staff, but it demands extremely precise control over the casting and merging of the electrode webs. The successful synchronization of the cathode and anode casting machines at the CQP was a direct demonstration of this capability. For FREYR, achieving target production yields-which directly impact the cost-per-kWh-is entirely dependent on the stability and repeatability of these automated systems. If the process control falters, energy density targets become irrelevant because the cost structure won't compete with established players who have already optimized their gigafactory throughput. You need to move beyond sample cells and lock in commercial-scale yield data quickly.

Finance: draft 13-week cash view by Friday.

FREYR Battery (FREY) - PESTLE Analysis: Legal factors

You're looking at the legal landscape for FREYR Battery right now, and honestly, it's a story of pivots and new compliance hurdles, not just setting up shop. The legal environment in late 2025 is defined by the fallout from strategic shifts, particularly the move away from the US battery factory and the new complexities in global supply chains.

Compliance with the stringent domestic content and sourcing requirements of the IRA

The Inflation Reduction Act (IRA) remains a massive legal driver for US clean energy manufacturing, but FREYR Battery has largely sidestepped the battery-specific requirements by canceling its Giga America project. Still, the company's new focus on solar manufacturing in Texas means IRA compliance is now front and center for that business line. For energy storage projects beginning construction in 2025, the manufactured products domestic content threshold to qualify for the 10-percentage point bonus credit is set at 45%. If a project misses that mark, the direct payment amount is reduced to 85% of the normal credit, and by 2026, failure to meet the requirements makes a facility ineligible for direct payments entirely. FREYR Battery acquired a 5 GW solar module facility in Wilmer, Texas, in December 2024, and plans to start construction on a 5 GW solar cell facility in Q2 2025. This pivot means their legal team must now ensure these new US-made assets meet the evolving IRS guidance, like Notice 2025-08, to capture the full value of the tax credits.

Securing necessary permits and environmental approvals for the Giga America site in Georgia

This is a non-issue now, which is a major legal event in itself. FREYR Battery formally scrapped the planned $2.6 billion Giga America battery factory in Coweta County, Georgia, in early 2025. The legal focus shifted from securing permits to terminating obligations. The company entered an agreement to sell the 368-acre site for gross sales proceeds of $50 million, with an expected closing date of February 15, 2025. What this estimate hides is the clawback of public money; FREYR expects net proceeds of only about $22.5 million after repaying state and local grants received for the project. The initial investment projection for the multi-phase project was $2.6 billion by 2029, which is now entirely off the table for Georgia.

Here's a quick look at the financial impact of that legal unwinding:

Item	Value (USD)	Status/Context
Initial Giga America Investment Projection	$2.6 billion	Total investment planned by 2029.
Site Sale Gross Proceeds	$50 million	Agreed sale price for the 368-acre site.
Estimated Net Proceeds After Grant Repayment	$22.5 million	Amount retained by FREYR Battery post-closing.
State/Local Incentives Repaid	Implied difference from gross proceeds	Repayment of funds received from Georgia authorities.

Intellectual property (IP) licensing agreements with 24M Technologies are foundational

The foundational IP agreement with 24M Technologies for the SemiSolid platform is no longer active. In November 2024, FREYR Battery and 24M Technologies mutually terminated their licensing agreements. This was a significant legal and financial restructuring. To close this out, FREYR agreed to pay $3 million in cash to 24M and, critically, forfeit nearly 7 million shares of Series G preferred stock. While this technology was central to FREYR's original 40 GWh capacity target by 2025, the termination allows the company to pursue alternative manufacturing paths, like the technology used in the newly acquired Texas solar assets, without ongoing royalty obligations tied to the 24M platform.

Navigating complex international trade and export controls between the US and Europe

The trade environment between the US and Europe, and especially concerning China, has tightened considerably in late 2025. China's Ministry of Commerce announced broad new unilateral export controls in October 2025, which directly impact the battery supply chain. Effective December 1, 2025, these controls assert extraterritorial jurisdiction, meaning foreign-made items containing just 0.1% value of specified PRC-origin rare-earth content may require a PRC export license. This creates a major compliance headache for any company, including FREYR Battery, that sources materials or equipment globally for its US or European operations. You need to map every tier-one and tier-two supplier to ensure no controlled Chinese components or technologies are inadvertently embedded in your final product, or you risk immediate export control violations.

• New PRC controls effective November 8, 2025, cover lithium battery equipment and technology.
• Extraterritorial controls for certain items take effect December 1, 2025.
• Compliance requires screening all downstream customers for military end-users.

Finance: draft 13-week cash view by Friday.

FREYR Battery (FREY) - PESTLE Analysis: Environmental factors

You're looking at the environmental angle for FREYR Battery, and honestly, it's the bedrock of their entire pitch. Their core value proposition isn't just making batteries; it's making the cleanest ones. This commitment is what sets them apart from the sea of new gigafactories popping up.

For their Norwegian operations, like the Giga Arctic facility, they've locked in power from Statkraft to secure a cumulative delivery of 1.4 TWh of hydropower from 2023 through 2031. This is key because their licensed SemiSolid technology uses power needs projected to be 60% lower than conventional lithium-ion production. Their initial ambition was to hit an 80% reduction in lifecycle CO2 footprint by 2025 compared to standard batteries, a target that shows you how serious they are about green credentials.

Supply Chain Decarbonization and Material Sourcing

Reducing the carbon footprint upstream is just as vital as how you power the factory floor. To be fair, battery supply chains are notoriously messy, but FREYR Battery is making specific moves to clean up its inputs. They signed a deal with Glencore for up to 1,500 metric tons of cobalt metal cathodes, with the requirement that the material must contain at least 50% recycled cobalt from Glencore's Norwegian refinery. Also, being a member of the Fair Cobalt Alliance (FCA) signals a commitment to ethical and sustainable sourcing, which matters a lot to institutional investors today.

Here's the quick math: securing recycled content directly addresses the environmental impact of mining. What this estimate hides is the difficulty in scaling that recycled content percentage across all raw materials, but for cobalt, it's a concrete step.

Waste Management and Circularity for SemiSolid Technology

Managing waste from the 24M Technologies SemiSolidTM manufacturing process is a growing focus, especially as production ramps up. While FREYR Battery's specific 2025 recycling targets for their own scrap aren't always public, you have to look at the regulatory landscape they are operating in. For instance, in the EU, recyclers face a mandate for lithium-based batteries to achieve 65% recycling efficiency by the end of 2025. Furthermore, material recovery targets for lithium are set to hit 50% by the end of 2027. The industry trend is leaning heavily into advanced hydrometallurgy, where new benchmarks aim to recover over 80% of saleable liquid material internally, turning waste streams into revenue.

US Regulatory Landscape and Giga America Pivot

You're definitely aware that the Giga America project in Coweta County, Georgia, is no longer happening. FREYR Battery formally cancelled those plans in January 2025, citing a strategic pivot to solar and macroeconomic pressures like rising interest rates. That was a big one: an initial planned capacity of approximately 34 GWh with an investment that could have topped $2.6 billion by 2029. They are now selling the site, expecting $22.5 million in net proceeds after repaying state and local grants.

Instead, the focus is now on a US-owned solar and battery storage enterprise, including the acquisition of a 5GW solar module facility in Texas in late 2024. On the regulatory side in the US, the environment is shifting; the EPA announced a major deregulation initiative in March 2025, which includes reconsidering rules like the social cost of carbon, currently priced around $190 per ton. If these regulations ease, it could lower compliance costs for their new solar focus, but it also signals less federal pressure on carbon reduction for future battery manufacturing.

Here is a snapshot of the key environmental metrics and targets relevant to FREYR Battery's operations and market context as of 2025:

Environmental Metric/Target	Value/Status (As of 2025)	Facility/Context
Lifecycle CO2 Reduction Ambition (by 2025)	80% reduction vs. conventional Li-ion	FREYR's initial goal for clean production
Renewable Power Secured (2023-2031)	Cumulative 1.4 TWh from hydropower	Giga Arctic, Norway (Statkraft PPA)
Sustainably Sourced Cobalt Contract	Up to 1,500 metric tons	Must contain $\ge$50% recycled cobalt
EU Lithium Battery Recycling Efficiency Target (by end of 2025)	65%	Industry benchmark for regulatory compliance
Giga America Planned Capacity (Cancelled)	Approx. 34 GWh (initial phase)	Coweta County, Georgia, US
US Solar Pivot Capacity (Acquired)	5 GW solar module manufacturing	Wilmer, Texas facility

Finance: draft 13-week cash view by Friday.