Stephen Wilmot writes in The Wall Street Journal about Freyr, a lithium-ion battery startup.
- Freyr Battery is a Norwegian startup that was founded in 2018 and has quickly grown.
- By 2025 Freyr expects to have a cost advantage over every other global lithium-ion battery producer due to its abundance of hydropower that powers its facilities.
- Freyr has also engaged in talks with the U.S. to form a joint venture to produce batteries from cheap and renewable energy, a deal that could solve America’s battery supply chain concerns.
- As demand for electric vehicles continues to surge, expect Freyr to play a significant role in the global battery market.
Freyr is a rarity as a listed battery manufacturer that doesn’t come from East Asia. If its strategic potential in a big growth market isn’t enough to attract attention over the coming months, a splashy U.S. deal could help. The company is in talks with an unnamed ‘multinational industrial conglomerate’ about forming a U.S. joint venture to make batteries somewhere that offers plenty of cheap renewable energy.
Read the full article here.
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