FREYR Battery signs first e

FREYR Battery announced a conditional offtake agreement (COA) with Impact Clean Power Technology, a manufacturer of battery systems for transportation, industry and stationary energy storage for renewable energy sources, traditional power generation, rail, and telecommunications. Under the terms of the agreement, FREYR will supply 10 – 14 GWh of clean, next-generation battery cells based on the 24M Technologies SemiSolid platform to Impact from 2025 – 2030.

FREYR intends to supply Impact with clean battery solutions based on the same battery cell architecture as the ESS products that will be produced at its Giga Arctic battery production facility in Mo i Rana, Norway. The LFP cells will be integrated into Impact's E-Mobility products for use in commercial vehicles as well as other applications.

This COA with Impact marks our first commercial agreement to produce fit-for-purpose LFP cells for the E-Mobility market alongside our already strong traction in the ESS sector. Following today's announcement, FREYR's portfolio of offtake and long-term sales agreements now exceeds 130 GWh of production in both ESS and E-Mobility markets through 2030, which demonstrates our growing commercial presence globally.

The contract between FREYR and Impact covers the period until 2030, with potential for further extension. This framework agreement is non-binding and the orders will be carried out in accordance with the needs of Impact and may reach a value of $1.8 billion based on BNEF's recent 2025 lithium price estimates and other conditions.

Posted on 13 January 2023 in Batteries, Market Background | Permalink | Comments (0)