FREYR Battery (FREY) Announces The Creation Of A Joint Venture In The United States With The Koch (KSP) Platform

Today, FREYR Battery’s price in the pre-market has increased by 8.76% and costs $10.55. The company’s stock indicators have been growing for a month. On September 27, the stock price reached $10.30. At the beginning of this month, the stock was worth $10.04. FREY stock rose 1.04% yesterday and was trading at $9.70. FREYR Battery, today announced the creation of a joint venture (“JV”) in the United States between Koch Strategic Platforms (KSP) and FREYR.

This joint venture was created to develop initial capacities for the production of batteries with a capacity of 50 GWh. The scale of the targeted development will make it possible to define the joint venture as one of the largest manufacturers of batteries in the United States, using American technologies and sustainable innovations of the leading American global industrial partner in KSP. KSP and FREYR invested $70 million in convertible promissory notes for $24 million as part of the transaction, with KSP and FREYR initially investing $50 million and $20 million, respectively.