FREYR

About

FREYR develops a combined 32+2 GWh lithium ion battery facility and 600 MW onshore wind-park in Rana and Nesna municipalities in Norway.

Mo I Rana,Nordland,Norway
251 - 500
https://www.freyrbattery.com/

Highlights

Details

Last Funding Type: Post-IPO Equity
Last Funding Money Raised: $264.50M
Industries: Electrical Distribution,Electronics,Manufacturing,Renewable Energy
Founded date: Jan 1, 2018
Number Of Employee: 251 - 500
Operating Status: Active
Stock Symbol: nyse:FREY
Legal Name: Freyr AS
Also Known As: FREYR Battery

FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 to position the company as one of Europe’s largest battery cell suppliers. The facilities will be located in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear and energized environment. FREYR will supply safe, high energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, and marine applications.

Funding Rounds

Number of Funding Rounds

Total Funding Amount

5

$1.56B kr39M

FREYR has raised a total of $1.56B kr39M in funding over 2 rounds. Their latest funding was raised on Dec 1, 2022 from a Post-IPO Equity round.

Announced Date	Round	Money Raised	Number of Investors	Lead Investors	Post Valuation
Dec 1, 2022	Post-IPO Equity	$264.50M	—	—	—	Detail
Jul 8, 2021	Post-IPO Equity	$600M	6	—	—	Detail
Jul 8, 2021	IPO	$704M	—	—	—	Detail
Feb 19, 2021	Grant	kr39M	1	Innovation Norway	—	Detail
Jan 29, 2021	Private Equity（PE）	—	1	Sylebra Capital	—	Detail

Investors

Number of Lead Investors

Number of Investors

2

7

FREYR is funded by 7 investors. Innovation Norway and Fidelity Management and Research Company are the most recent investors.

Investor Name	Lead Investor	Funding Round
Innovation Norway	Yes	Grant
Fidelity Management and Research Company	—	Post-IPO Equity
Franklin Templeton Investments	—	Post-IPO Equity
Glencore	—	Post-IPO Equity
Koch Strategic Platforms	—	Post-IPO Equity
Sylebra Capital	—	Post-IPO Equity
VanEck	—	Post-IPO Equity