FREYR Battery Announces the Execution of 38 GWh Li-Ion Battery Binding Cell Sales Agreement and Entry into Module & Pack Joint Venture for Energy Storage Solutions with Nidec Corporation
Broad partnership with Nidec includes a firm sales contract to supply 38 GWh of next-generation clean LFP Li-Ion battery cells from 2025 - 2030 combined with a Joint Venture Agreement to develop, manufacture, and sell integrated, low carbon ESS solutions to industrial and utility grade customers· FREYR and Nidec have jointly agreed to convert and expand the previously announced 31 GWh conditional offtake agreement between the companies to a binding sales agreement under which FREYR will supply 38 GWh of cells from 2025 to 2030 with an option to upsize the volumes to 50 GWh in the period and