FREYR Battery

NYSE:FREY   3:59:58 PM EDT
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Mergers / Acquisitions

FREYR Battery And Nidec Announce Finalization of 38 GWh Battery Cell Sales Agreement From 2025 – 2030

Published: 08/30/2022 06:18 GMT
FREYR Battery (FREY) - 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.
Freyr Battery - Under Terms of Agreement, Co to Supply 38 Gwh of Cumulative Clean, Next-generation Battery Cells to Nidec Between 2025 - 2030.
Says Binding 38 Gwh Sales Contract Has an Estimated Gross Value to Freyr in Excess of $3 Billion From 2025 to 2030.
Under Agreement, Nidec Will Have Option to Increase Cumulative Offtake Volumes to 50 Gwh Over Life of Contract.