FREYR Battery Selects NTE Process as Equipment Supplier
September 08 2022 - 6:48AM
Business Wire
FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean,
next-generation battery cell production capacity, has awarded an
agreement to Italy-based NTE Process to supply a complete and
integrated drying and powder handling system for FREYR’s planned
battery cell Gigafactory in Norway, known as Giga Arctic.
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Signing ceremony, NTE and FREYR Battery
at Lysaker office, Oslo, Norway. (Photo: Business Wire)
NTE Process is a service-oriented industrial automation and bulk
material handling company that delivers custom solutions to their
partners. With NTE Process’ automated solution for drying and
powder handling, FREYR aims for safe, consistent, and properly
contained powder transfer procedures in the manufacturing process.
NTE Process is currently delivering solutions for FREYR’s Customer
Qualification Plant (“CQP”) in Mo i Rana, Norway, and will transfer
the knowledge gained to the Giga Arctic project.
“Partners are a key part of our roadmap as we work towards
greater speed and scale in battery production, and NTE Process
plays a vital role in ensuring that we run a safe and seamless
manufacturing process,” says Jan Arve Haugan, Chief Operating
Officer for FREYR. “They have served as an important partner to us
in the development of our CQP, and we believe NTE Process to be the
right fit for our Gigafactories, in addition to being a strong
contributor to our technical development.”
NTE Process is a pre-qualified vendor of 24M Technologies, Inc.
(“24M”), the maker of the 24M SemiSolidTM production platform which
enables lower-cost and more sustainable lithium-ion battery
production.
“We’re eager to support FREYR on the road to large-scale battery
cell production, and their ambitions for Giga Arctic are a strong
fit with our experience in delivering custom, automated solutions
to industrial partners. Battery production will be key to our
energy future, and we will strive to be active co-developers of
clean battery solutions with FREYR,” says Fabio Novelli, President
& CEO, NTE Process.
“Our future Gigafactories require expertly-designed solutions
that meet our high standards of engineering safety and efficiency
in production. We are pleased that NTE Process will transfer the
lessons from our CQP to Giga Arctic, helping us maintain our
momentum towards full-scale battery production,” adds Haugan.
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
About NTE Process
NTE Process (www.nte-process.com) is a single source provider
that supports its customers from the engineering to the
construction and start-up of turnkey plants. As a specialist in
pneumatic transport for the handling of powders and granules, the
company offers the best process solutions, Industry 4.0 ready,
thanks to patented proprietary technologies and international
partnerships. The NTE Process solutions include innovative and
sustainable technologies for pneumatic mixing, spray drying,
drying, grinding, packaging, filtration and control of harmful
emissions.
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 ability of NTE Process to supply a
complete and integrated drying and powder handling system for
FREYR’s Giga Arctic, manage the up- and downstream interfaces, and
transfer the knowledge gained through its involvement with FREYR’s
CQP; FREYR’s ability to establish safe, consistent, and properly
contained powder transfer procedures in the manufacturing process
based on the NTE Process automated solution for drying and powder
handling; the 24M platform’s ability to reduce the steps in the
battery cell manufacturing process and reduce carbon emissions; and
FREYR’s ability to develop clean battery solutions and achieve
large-scale battery cell production; 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/20220908005598/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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