Norway’s Freyr Battery said it gained €100 million ($112 million) in funding from the European Union’s Innovation Fund to support development of its Giga Arctic project in Norway.
Freyr’s board of directors gave the go-ahead in June 2022 for construction of the 29 GWh battery plant. It thus moved from detail planning to construction.
Freyr has started building – the first of its planned factories in Mo i Rana, Norway. It has also announced potential development of industrial scale battery cell production in the US and Finland. It intends to install 50 GWh of battery cell capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh by 2030.
