FREYR Battery Selects Mpac Group to Deliver Cell Manufacturing Equipment for Giga Arctic
September 15 2022 - 7:29AM
Business Wire
FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean,
next-generation battery cell production capacity, has awarded an
agreement to U.K.-based Mpac Group (“Mpac”), featuring its Lambert
product line for automated casting and unit cell assembly equipment
for its planned battery cell production facilities in Norway.
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the full release here:
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Einar Kilde, EVP Projects FREYR Battery
and Tony Steels, CEO Mpac Lambert. (Photo: Business Wire)
The process of casting and unit assembly is considered the heart
of the battery production facility and a vital step in terms of
battery cell quality. Mpac has collaborated with FREYR on automated
solutions for the company’s Customer Qualification Plant (“CQP”),
and together the two companies will now transfer this knowledge to
the planned Giga Arctic facility.
“Mpac has a proven track record in delivering complex industrial
machinery, and after careful assessment, we believe that they have
the best technical solution for our Giga Arctic project,” says
Einar Kilde, EVP Project Execution, FREYR. “Our collaboration began
with our CQP, where we learned that our two companies are
well-aligned in our ambitions for speed and scale in producing
clean and sustainable battery solutions.”
Mpac is a pre-qualified vendor of 24M Technologies, Inc., the
maker of the 24M SemiSolid™ production platform which enables
lower-cost and more sustainable lithium-ion battery production.
“We have developed a close relationship with FREYR through the
CQP, and we are eager to continue customizing and co-developing
with them, to create the best automated solution and to ensure the
superior quality of their battery cells. This frame agreement
allows us to work on joint development projects, as well as to use
the opportunity to learn from each other as we build and accelerate
Giga Arctic,” says Tony Steels, CEO, Mpac Group plc.
FREYR’s strategic frame agreement with Mpac has a three-year
duration, with an optional extension. The agreement is expected to
ensure the supply of casting and unit cell assembly equipment,
allowing FREYR to deliver at speed, scale and sustainability.
“As part of the strategic frame agreement with Mpac, FREYR is
well-positioned in terms of capacity for our future Gigafactories,
as we have yet another experienced and knowledgeable partner to
work with on the technical development. This is a strong sign that
we have the right partners by our side as we move fast towards
battery cell production,” adds Kilde.
With the agreement with Mpac in place, FREYR has now completed
agreements with key equipment suppliers for its CQP and Giga Arctic
projects, including previously announced agreements with Hana
Technology and NTE process.
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 Mpac Group
Mpac Group plc is a global leader in high-speed packaging and
automation solutions. The Company serves blue chip customers
throughout the world in the essential and growing sectors of clean
energy, food and beverage, pharmaceutical and healthcare.
Headquartered in the UK, the Company has strategically located
manufacturing and service locations in North America, Europe and
Asia to provide customers with local support for all its product
lines: Lambert, Langen, Switchback and Cube.
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 Mpac Group’s ability to supply automated
casting and unit cell assembly equipment for FREYR’s planned
battery cell production facilities in Norway over the term of the
agreement; Mpac’s ability to create the best automated solution and
to ensure the superior quality of FREYR’s battery cells; the
transfer of knowledge gained through Mpac’s involvement with
FREYR's CQP; the development of 24M Technologies, Inc.’s technology
and their use in FREYR’s Gigafactories; FREYR’s ability to
manufacture next-generation lithium-ion EV batteries using 24M’s
SemiSolid™ platform; the capacity of FREYR’s future Gigafactories
and FREYR’s ability to deliver battery cells at speed, scale and
sustainability 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 FREYR’s
Registration Statement on Form S-3 filed with the Securities and
Exchange Commission (the "SEC") on September 1, 2022, and in other
SEC filings available on the SEC’s website at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20220915005654/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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