FREYR Battery Strengthens Presence in Finland with New Executive Hire
December 07 2022 - 4:10PM
Business Wire
FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean,
next-generation battery cell production capacity, has announced the
appointment of Tor Stendahl as Managing Director for FREYR Battery
Finland Oy.
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“We are pleased with our initial progress in Finland, and we are
excited to onboard an experienced leader to head our operations and
take us into the next phase of development. Tor brings an
industrial and battery-specific background, and his leadership and
relevant experience from the region will be of great value for
FREYR,” said Axel Thorsdal, SVP Project Development.
FREYR has signed an agreement with the City of Vaasa, Finland,
for the temporary lease of 1.3 million square meters of land in the
GigaVaasa area. This land is a candidate future site for FREYR’s
developmental initiatives based on the company’s collaboration with
the City of Vaasa.
Tor Stendahl, a Finnish national, comes to FREYR
from his position as Country Manager Finland/Baltic and General
Manager for Battery Materials, Base Metal Services and Recycling at
BASF. He has held various leadership and sales roles throughout his
25-year career at BASF, and most recently led the build-up of
BASF’s pCAM plant in Harjavalta, Finland. Stendahl holds a master’s
degree in chemical engineering from Åbo Akademi University.
“The mission of FREYR is more critical than ever as we
transition our energy systems and seek greater reliability and
efficiency. My experience from my previous role is initiating and
ramping up operations, and I’m thrilled to put that knowledge to
work for FREYR as we establish and grow our presence in Finland,”
said Tor Stendahl.
Tor Stendahl will assume his new role in FREYR’s Finnish
operations during spring 2023.
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 FREYR’s ability to realize the benefits of
Finland’s strategic importance due to its ample supply of renewable
energy, proximity to essential raw materials and highly competent
workforce 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-3 filed with the Securities and
Exchange Commission (the “SEC”) on September 1, 2022, 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/20221207005514/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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