FREYR and ITOCHU signs initial agreement for supply of safe, cost competitive and environmentally friendly battery cells to accelerate deployment of renewable energy solutions
FREYR AS and ITOCHU Corporation have signed a Memorandum of Understanding (MoU) for joint commercialization of renewable energy solutions and offtake of safe, cost competitive and environmentally friendly lithium-ion battery (LiB) cells manufactured at FREYR’s facilities which are under development in Mo i Rana, Norway. ITOCHU is one of Japan’s largest companies with an extensive portfolio which includes sales and marketing of LiB material, -production equipment and -applications such as energy storage systems (ESS) and energy management software and services using AI technology. FREYR