Skip to main content

FREYR Battery ($FREY) Signs Agreement with Aleees to Produce Active Cathode Material

Green Stock News LLC

FREYR Battery ($FREY) Signs Agreement with Aleees to Produce Active Cathode Material

 

 

FREYR Battery (NYSE: FREY), a developer of clean, next-generation battery cell production capacity, has entered into an agreement with Aleees, a Taiwan-based lithium-iron phosphate cathode battery material manufacturer. 

 

The agreement, which includes ongoing services and support from Aleees, provides the company with a worldwide license to produce and sell lithium-iron phosphate cathode material based on Aleees’ technology. 

 

The company anticipates that the agreement will enable FREYR to meet the future lithium-iron phosphate cathode material needs of the Giga Arctic battery production facility in Norway. The company says that the volumes could also be deployed to FREYR’s planned Giga America project in the U.S.

 

FREYR’s Co-Founder and CEO Tom Einar Jensen stated: “Lithium-iron phosphate cathode materials comprise 40% or more of the cost of a battery cell and currently account for more than 45% of the projected full-cycle supply chain carbon footprint of cells. Through this agreement and in cooperation with Aleees, FREYR is positioned to become a low cost and low carbon producer of lithium-iron phosphate cathode material.”

 

FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally.

 

Shares of FREYR Battery trade on the NYSE under the ticker symbol FREY. For more information visit www.greenstocknews.com.

 

Source: https://greenstocknews.com/newswire/freyr-battery-frey-signs-license-and-services-agreement-with-aleees-to-produce-active-cathode-material

 

Disclaimer

 

This content is not financial advice and is for information, education and entertainment purposes only. Green Stock News is not responsible for any losses related to the financial decisions made by you. Video content and other materials including web content are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Green Stock News is not responsible for any gains or losses that result from the opinions expressed in this video or materials that it publishes electronically.

 

View original video news clips here: https://greenstocknews.com/green-stock-newswire 

  

Copyright (c) 2022 TheNewswire - All rights reserved.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.