FREYR Battery Inc
NYSE:TE
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FREYR Battery Inc
FREYR Battery, Inc. provides industrial scale clean battery solutions. The company is headquartered in Newnan, Georgia and currently employs 263 full-time employees. The company went IPO on 2020-01-10. The firm seeks to serve its primary markets of energy storage systems (ESS) and commercial mobility, including marine applications and commercial vehicles. Its facilities are located at Mo i Rana industrial complex in Northern Norway. The company is engaged in the development of its first clean battery cell manufacturing project in the United States (Giga America), which is located on a 368-acre parcel of land in Coweta County, Georgia. The firm's products consist of ESS, eMobility, and Electric Vehicle (EV). Its industrialized 24M semi solid technology, allows the Company to offer cell for ESS applications while surpassing or matching industry standard in cycle life, DoD, RTE, and LCOS.
FREYR Battery, Inc. provides industrial scale clean battery solutions. The company is headquartered in Newnan, Georgia and currently employs 263 full-time employees. The company went IPO on 2020-01-10. The firm seeks to serve its primary markets of energy storage systems (ESS) and commercial mobility, including marine applications and commercial vehicles. Its facilities are located at Mo i Rana industrial complex in Northern Norway. The company is engaged in the development of its first clean battery cell manufacturing project in the United States (Giga America), which is located on a 368-acre parcel of land in Coweta County, Georgia. The firm's products consist of ESS, eMobility, and Electric Vehicle (EV). Its industrialized 24M semi solid technology, allows the Company to offer cell for ESS applications while surpassing or matching industry standard in cycle life, DoD, RTE, and LCOS.
Record Production & Sales: T1 achieved record Q3 net sales of about $210 million and set a new daily production record at its Dallas facility, reaching a 5.2 GW annualized run rate.
Guidance Unchanged: 2025 EBITDA guidance remains at $25–50 million, with no changes despite contract disputes or market volatility.
Major Expansion Progress: Construction on the G2 Austin solar cell fab (Phase 1: 2.1 GW) is on track to begin before year-end, supported by recent $72 million equity raise and a $50 million draw from a $100 million commitment.
Strong Market Dynamics: Management highlighted accelerating U.S. electricity demand, especially from AI and onshoring, positioning T1 for growth.
Supply Chain Integration: Partnerships with Hemlock/Corning, Nextpower, and Talon PV reinforce domestic sourcing and compliance with U.S. content requirements, critical for 45x tax credits.
Upcoming Sales Ramp: Q4 production and sales are anticipated to exceed the combined first three quarters, driven by inventory liquidation and previously booked sales.
Liquidity Improved: Cash position strengthened with $87 million at quarter-end and an additional $118 million in October; continued focus on optimal capital structure and limiting dilution.
