FREYR Battery Welcomes SAP to Energy Transition Acceleration Coalition
September 05 2023 - 6:01AM
Business Wire
FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean,
next-generation battery cell production capacity, has announced
that SAP SE (FSE: SAP; “SAP”), one of the world’s leading producers
of software for the management of businesses processes, has joined
FREYR’s Energy Transition Acceleration Coalition (“ETAC”). With the
addition of SAP, the ETAC, which is a collaborative alliance of
global business partners focused on commercializing decarbonization
solutions through clean battery deployment, now includes Glencore
Plc (LN: GLEN), Caterpillar Inc. (NYSE: CAT), Siemens AG (GY: SIE),
and Nidec Corporation (TSE: 6594).
“We are delighted to welcome SAP, one of the world’s premier
software companies, into the ETAC on behalf of our other partners.
SAP brings a global network of strategic business relationships,
world leading enterprise software solutions, and a shared
commitment to exploring commercial opportunities that are aligned
with our vision to accelerate the energy transition across key
sectors, and to incubate and develop innovative technology
solutions together,” commented FREYR’s Co-founder and Executive
Chairman, Tom Einar Jensen. “This partnership will be marked by a
dedicated focus on the digital thread, leveraging SAP's extensive
network of customers and partners. The ETAC will pave the way
towards a digitally empowered future within the battery
industry."
“We are honoured to be part of the ETAC and to support FREYR in
developing decarbonized solutions through clean batteries. The
collective challenge faced by all stakeholders within the battery
value chain is the scaling of the battery business. Consequently,
all parties are actively seeking the optimal solution to start lean
and quick but able to scale as the business grows,” said SAP’s
Global Battery Practice Lead, Stephan Fester. “Our strategy is to
focus on the end-to-end battery value chain, from mining to
refining, from cell manufacturing to module and pack assembly, from
finished goods production to operations and recycling. With our
experience from 26 different industries, we will create new
opportunities to accelerate time to market and to establish new
business around decarbonized battery solutions. With our
partnership approach we focus on value realization to ensure
customer success,” Fester added.
SAP has engaged in numerous initiatives aimed at defining the
most effective means of collaboration, including closed battery
recycling loops, data exchange through Business Networks, AI-driven
process automation for cell manufacturing, modular production for
battery assembly, and robust recycling practices through material
accounting.
The ETAC is a global strategic alliance of market leaders across
the industrial and technology sectors focused on identifying and
pursuing mutual areas of commercial interest along the battery
value chain. Potential arenas of commercial collaboration include
battery cell manufacturing; pack and module integration; digital
and software services; mining and refining; power market stationary
storage applications; electric transportation; and
recycling/end-of-life solutions.
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 the United States.
To learn more about FREYR, please visit www.freyrbattery.com.
About SAP
SAP’s strategy is to help every business run as an intelligent,
sustainable enterprise. As a market leader in enterprise
application software, we help companies of all sizes and in all
industries run at their best: SAP customers generate 87% of total
global commerce. Our machine learning, Internet of Things (IoT),
and advanced analytics technologies help turn customers’ businesses
into intelligent enterprises. SAP helps give people and
organizations deep business insight and fosters collaboration that
helps them stay ahead of their competition. We simplify technology
for companies so they can consume our software the way they want –
without disruption. Our end-to-end suite of applications and
services enables business and public customers across 26 industries
globally to operate profitably, adapt continuously, and make a
difference. With a global network of customers, partners,
employees, and thought leaders, SAP helps the world run better and
improve people’s lives. For more information, visit
www.sap.com.
Cautionary Statement Concerning Forward-Looking
Statements
All statements, other than statements of present or historical
fact included in this press release, are forward looking
statements. These forward-looking statements involve significant
risks and uncertainties that could cause actual results to differ
materially from the expected results. Most of these factors are
outside FREYR’s control and are difficult to predict. Additional
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 U.S. Securities and Exchange
Commission (the “SEC”) on September 1, 2022 and (ii) FREYR's Annual
Report on Form 10-K for the year ended December 31, 2022 that was
filed with the SEC on February 27, 2023, available on the SEC’s
website at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20230905778808/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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