Newnan, Georgia, Release: November 11, 2022. Today, FREYR Battery, a developer of clean, next-generation battery cell production capacity, announced the selection and purchase of a site in Coweta County, Georgia for its planned Giga America battery plant. The company plans to create 723 new jobs and invest more than $2.57 billion in Coweta County through 2029. The new flagship manufacturing plant will be located at the Bridgeport Industrial Park.

FREYR, a company based in Luxembourg, is committed to assisting the local supply chain for renewable energy sources. The company’s battery cells have a variety of uses, including stationary energy storage (ESS) and electric mobility.

To allow for an expedited start to construction, FREYR is creating a strategy to carry out the project in a phased approach. With the help of the recently passed U.S. Inflation Reduction Act, the new project execution plan now takes into account the soaring incremental customer demand for clean, next-generation batteries.

“Today’s landmark announcement underscores FREYR’s ambition to develop a very strong and near-term operational footprint in the United States. Expanding into the U.S. has been a foundational aspect of FREYR’s long-term strategy from our inception, and with the recent passage of the Inflation Reduction Act, we expect U.S. demand for ESS, passenger EV and other electric mobility applications to grow rapidly over the next decade,” commented FREYR’s Co-Founder and Chief Executive Officer Tom Einar Jensen.

The project is expected to be developed in multiple phases beginning with an initial battery cell production module of approximately 34 GWh. The entire investment in Coweta County, Georgia, could be well over $2.57billion, including the planned, value-enhancing upstream and downstream modules.

The SemiSolidTM technology of FREYR’s American licensing partner, 24M Technologies, will serve as the foundation for the project. Lithium-ion battery manufacture can be done at scale with a high level of capital efficiency thanks to the simplified SemiSolidTM platform.

With local utility providers involvement , FREYR is currently reviewing clean power supply options for the project. The long-term goal of the company is to adopt the same approach used at Giga Arctic to create some of the cleanest next-generation batteries.

“We are thrilled to welcome FREYR Battery to the Coweta County community,” said Coweta County Board of Commissioners Chairman Bob Blackburn. “With the addition of FREYR, Coweta County is quickly becoming a premier destination for top-tier manufacturing industries that support the U.S. economy and beyond. We look forward to the innovation, opportunities, and success that FREYR will generate.”

The site of the new FREYR facility will be in the Bridgeport Industrial Park, where a mix of heavy and light industrial has been permitted since 2014. FREYR choose to invest in Coweta County after an extensive and competitive site selection process. The County’s workforce, location and business friendly climate helped it to stand out from other locations. Coweta County has a strong manufacturing workforce with the ability to attract talent from universites and technical colleges. The robust tranportation infrastructure of highway and rail provides easy access to ATL and the Port of Savannah and Coweta County’s business friendly climate make in an ideal destination for FREYR.

“Collaboration was integral to the success of this project,” states Coweta County Development Authority Chairman, John Daviston. “Teamwork and intelligence sharing among our local and statewide stakeholders built credence in the location business case. We will continue to leverage the efforts and expertise of our partnerships as we welcome FREYR.”

FREYR Battery is looking to fill openings for both administrative, technical, and managerial positions. Additional information about available positions and how to apply can be found at careers.freyrbattery.com, sourced from FREYR Battery.

About FREYR Battery

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. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to install 50 GWh of battery cell capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh of annual capacity by 2030. To learn more about FREYR, please visit www.freyrbattery.com.

MEDIA CONTACT(S):

Sarah Jacobs
President, Coweta County Development Authority

ccdacontact@coweta.ga.us

Coweta County Development Authority

Working with local, regional, state and national partners, the Coweta County Development Authority works to encourage and promote economic development activity in the county, whether through the location of a new company or through the expansion of an existing facility.

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If you would like more information regarding Coweta County Development Authority, please click the link provided: choosecoweta.com.