FREYR Battery Appoints Head of U.S. Operations
August 23 2022 - 6:01AM
Business Wire
FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean,
next-generation battery cell production capacity, has announced the
appointment of Michael J. Brose to the newly created position of
Vice President of U.S. Operations. Before his appointment at FREYR,
Brose was the Chicago-based plant manager for WR Grace, a supplier
of high-performance chemicals and materials.
“The U.S. is a key strategic market and a central element of our
expansion roadmap, which calls for us to recruit strong leaders who
understand both the operational and strategic aspects of
manufacturing. With Michael’s addition to our team, we have another
results-driven executive who brings deep operational expertise to
our business,” commented Tom Einar Jensen, CEO of FREYR.
Following the recent passage of the Inflation Reduction Act,
FREYR is accelerating the development timetable for its first U.S.
Gigafactory, Giga America. Site selection for the project has
advanced to the final five candidate locations, and FREYR recently
announced the opening of its first U.S. campus in Boston to foster
deep collaboration with FREYR’s strategic partners at 24M
Technologies (“24M”) and Koch Strategic Platforms (“KSP”).
“This is a pivotal time for the battery industry and for the
development of clean energy solutions in major end markets such as
the U.S. I have spent my career operating and managing chemical
manufacturing facilities, emphasizing efficient processes and high
safety standards. I am excited to be part of FREYR’s U.S.
leadership team, and I look forward to positioning our company as
one of the leaders of clean energy growth in the U.S,” said
Brose.
Mr. Brose holds a Bachelor of Science in Chemical Engineering
from the University of Pennsylvania. Prior to joining FREYR, he
served for more than a decade as Vice President of Operations /
Plant Manager in three different manufacturing segments, including
his time at WR Grace.
About FREYR Battery
FREYR Battery aims to provide industrial scale clean battery
solutions to reduce global emissions. Listed on the New York Stock
Exchange, FREYR’s mission is to produce green battery cells to
accelerate the decarbonization of energy and transportation systems
globally. FREYR has commenced building the first of its planned
factories in Mo i Rana, Norway and announced potential development
of industrial scale battery cell production in Vaasa, Finland and
the United States. FREYR intends to install 50 GWh of battery cell
capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh of
annual capacity by 2030. To learn more about FREYR, please visit
www.freyrbattery.com
Cautionary Statement Concerning Forward-Looking
Statements
All statements, other than statements of present or historical
fact included in this press release, including, without limitation,
statements regarding the U.S.’s key role in FREYR’s expansion
roadmap; FREYR’s ability to maintain momentum in its strategic
partnerships and its planned U.S. Gigafactory, Giga America;
FREYR’s ability to continue to hire key personnel in the U.S.;
FREYR’s target of speed and scale in the U.S.; FREYR’s ability to
build one of the largest battery cell Gigafactories in the U.S.;
the importance and impact of the Inflation Reduction Act for the
U.S. pathway to reduce its greenhouse gas emissions by investing in
clean energy technologies; the role that green energy will play in
the U.S. and the prioritization of downscaling of fossil fuels; the
U.S. energy market’s ability to transform; FREYR’s ability to
contribute in the U.S. energy market’s transformation; FREYR’s
ability to convert any conditional agreements into definitive
agreements; FREYR’s ability to develop energy storage solutions at
multiple GWh scale in the U.S.; and FREYR’s ability to accelerate
its plans towards initial site selection in the U.S. to capitalize
on the growing momentum are forward-looking and involve significant
risks and uncertainties that could cause the actual results to
differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult
to predict. Information about factors that could materially affect
FREYR is set forth under the “Risk Factors” section in (i) FREYR’s
Registration Statement on Form S-1 filed with the Securities and
Exchange Commission (the "SEC") on August 9, 2021, as amended, and
(ii) FREYR’s annual report on Form 10-K filed with the SEC on March
9, 2022, and available on the SEC’s website at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20220823005268/en/
Investor contact: Jeffrey Spittel Vice President,
Investor Relations jeffrey.spittel@freyrbattery.com Tel: (+1)
281-222-0161
Media contact: Katrin Berntsen Vice President,
Communication and Public Affairs katrin.berntsen@freyrbattery.com
Tel: (+47) 920 54 570
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