Freyr Battery of Norway announced a potential strategic coalition with Glencore (commodity trading and mining) Caterpillar (construction and mining equipment), Siemens (technology) and Nidec (energy storage systems) to scale up sustainable battery solutions.
They will target Europe, North America and beyond as they pursue a shared battery technology vision. The group will collaborate on the development of novel solutions and service offerings and develop circular supply chains for battery materials and technology.
Freyr’s co-founder and CEO Tom Einar Jensen said: “We are exceedingly pleased to announce the emergence of this new global strategic coalition with four premier global industrial and energy companies. This announcement represents an important first step for Freyr and our four potential global partners as we launch this commercial initiative.
“Ultimately, Freyr’s vision for this coalition is to accelerate the energy transition across key sectors by scaling up clean battery production from Freyr’s gigafactories under development, and to incubate and develop innovative technology solutions together.”
Potential arenas of commercial collaboration include:
- battery cell manufacturing
- pack and module integration
- digital and software services
- mining and refining
- power market stationary storage applications
- electric transportation
- recycling/end-of-life solutions.
Freyr formed a joint venture with Nidec in December.