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FREYR Battery Awarded €100 Million EU Innovation Fund Grant
FREYR Battery, a developer of clean, next-generation battery cell production capacity, has announced that the company has been awarded a €100 million grant from the European Union to support development of FREYR’s Giga Arctic project in Norway. The grant will be funded through the EU’s Innovation Fund as part of the EU’s efforts to promote localized production of battery solutions.
Giga Arctic, which has been under development since FREYR’s Board of Directors sanctioned the start of construction in June 2022, is designed to be a 29 GWh nameplate capacity facility based on the 24M Technologies SemiSolidTM manufacturing platform and powered with 100% renewable hydroelectricity.