FREYR Battery Q3 2024 Earnings Report

FREYR Battery EPS Results

• Actual EPS: -$0.20
• Consensus EPS: -$0.18
• Beat/Miss: Missed by -$0.02
• One Year Ago EPS: -$0.07

FREYR Battery Revenue Results

• Actual Revenue: N/A
• Expected Revenue: N/A
• Beat/Miss: N/A
• YoY Revenue Growth: N/A

FREYR Battery Announcement Details

• Quarter: Q3 2024
• Date: 11/6/2024
• Time: Before Market Opens
• Conference Call Date: Wednesday, November 6, 2024
• Conference Call Time: 7:00AM ET

FREYR Battery (NYSE:FREY) is a sustainable battery technology and manufacturing company focused on producing high-performance lithium-ion cells for electric vehicles (EVs) and energy storage systems. The company aims to leverage low-carbon hydroelectric power in Norway and renewable energy sources in other regions to supply clean battery cells that meet the growing global demand for decarbonized transportation and grid resilience. FREYR’s product roadmap includes battery modules, packs and integrated storage solutions, designed to serve auto manufacturers, utilities and large-scale commercial energy users.

Headquartered in Oslo, Norway, FREYR Battery was founded in 2018 with the mission of establishing cost-efficient, scalable gigafactories in strategic locations. The company operates a pilot line in Mo i Rana, in Norway’s Arctic region, and has secured site agreements and memoranda of understanding to develop large-scale production facilities in North America. These initiatives reflect FREYR’s commitment to diversifying its manufacturing footprint across Europe and the United States, capitalizing on access to renewable power and supportive regulatory environments.

In November 2021, FREYR completed a business combination with Alussa Energy Acquisition Corp. and began trading on the New York Stock Exchange under the ticker symbol FREY. Under the leadership of Chief Executive Officer Tom Einar Jensen, who brings extensive experience in industrial development and renewable technologies, the company has focused on advancing cell chemistry innovation and scaling its production capabilities. FREYR’s management team also includes experts in engineering, supply chain management and energy policy, positioning the company to navigate the complex requirements of the battery value chain.

FREYR Battery continues to pursue partnerships with automotive OEMs, utility providers and technology firms to accelerate the deployment of its low-carbon battery solutions. By integrating advanced manufacturing processes with a sustainable energy strategy, the company strives to address both the environmental and economic challenges of the global energy transition. As demand for electrification intensifies, FREYR is positioned to play a key role in building the clean energy infrastructure of tomorrow.