Q3 2021
Earnings call
November 15, 2021
Important notices
Forward looking statements
The information in this presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, including, without limitation, regarding FREYR's plans for 100% decarbonization of cobalt and other battery materials; FREYR's development of a local sustainable battery value chain; the pursuit of sustainable-linked financing options; the timing and projected GWh of estimated potential cumulative demand in relation to offtake agreements; future estimates of generating free cash flow from operations; future selling, general and administrative ("SG&A") expenses; the development, timeline, capacity and other usefulness of FREYR's CQP and planned Gigafactories; progress to complete CQP equipment tenders and progress of tendering for the subsequent Gigafactories; progress and development of customer offtake agreements and supply chain partnerships; the development and growth of FREYR's target markets; the scale and arrangements for any FREYR production facilities in North America; the progress and development of FREYR's partnerships and strategic growth plans in Finland; the development and commercialization of 24M Technologies, Inc.'s ("24M") SemiSolid technology; FREYR's manufacturing capacity relative to other market participants; and the development of customer and supplier relationships are forward-looking statements.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results, including that our joint venture may not occur on the expected timeline or at all, and that the joint venture may not be successful. Most of these factors are outside FREYR's control and are difficult to predict.
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Additional information about factors that could materially affect FREYR is set forth under the "Risk Factors" section in FREYR's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August 9,
2021, as amended, and available on the SEC's website at www.sec.gov.
Except as otherwise required by applicable law, FREYR disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements.
Today's Agenda
- Business update
- Operations update
- 24M Technologies spotlight
- Financials and outlook
FREYR is Making Significant Progress towards Commercialization
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Commercial and Strategic |
Building operational |
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Progress |
foundation |
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• Negotiating offtake agreements in |
• Construction of Customer |
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excess of 150 GWh between 2023 |
Qualification Plant on schedule for |
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and 2030 |
2H 2022 start-up |
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• Koch Strategic Platforms U.S. joint |
• Glencore supply agreement signed |
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venture established |
for initial cobalt needs through |
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• Accelerating capacity expansion |
2028 |
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plans in the U.S. and Finland |
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Developing and Financing
Expansion to Scale
- Concept selection supporting 2H 2023 start-up for planned combined Gigafactories 1 and 2 in Mo i Rana
- Developing debt-based financing solutions supporting FID on combined Gigafactories 1 and 2 planned for 1H 2022
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Growing Pipeline of Commercial Opportunities
Pronounced battery market short supports high-grading of customer portfolio to drive value
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Opportunities |
Technical review |
Commercial |
Conditional offtake |
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negotiations |
agreements |
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>60 prospective customers
Early-stage dialogues with companies needing clean battery solutions in Europe and the U.S. across multiple market segments
25 prospective customers
>3,000 GWh of estimated potential cumulative demand between 2024 - 2030
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Seven offtake agreement |
Two conditional offtake |
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negotiations ongoing |
agreements in advanced |
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stages of negotiations |
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>100 GWh of estimated |
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potential cumulative demand |
>50 GWh of potential |
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between 2023 - 2030 |
demand |
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FREYR Battery SA published this content on 15 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2021 13:27:09 UTC.
