FREYR Battery Sanctions Construction of its Inaugural Gigafactory
Increases plant capacity to 29 GWh, based on $1.6 billion in identified debt financing support, catalyzed by the Norwegian National Battery Strategy and Norway’s Export Credit Agency Eksfin’s indication of up to EUR 400 million in guarantees and/or loans- FREYR’s Board of Directors has sanctioned construction of Giga Arctic (combined Gigafactories 1 & 2), the company’s first battery manufacturing facility under development in Mo i Rana, Norway - FREYR is increasing the nameplate capacity of Giga Arctic to 29 GWh in response to improving battery supply-demand dynamics, ongoing commercial