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A Bet on the Cheap, Green, Geopolitical Future of Batteries

Stephen Wilmot writes in The Wall Street Journal about Freyr, a lithium-ion battery startup.

The C3 Take
  • 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.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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