Freyr Battery and Finnish Minerals Group evaluating lithium-ion cells plant for Finland

by John Shepherd
Freyr is now trading on the New York Stock Exchange, following its merger with special purpose acquisition vehicle Alussa Energy Acquisition. Photo: NYSE
The Finnish Minerals Group (FMG) and Norwegian battery developer Freyr Battery said today they are evaluating plans to jointly set up a lithium-ion battery cells production plant in Finland.

City authorities in Vaasa, on Finland’s west coast, have reserved a 90-hectare site for the potential plant – adjacent to where Johnson Matthey is building its second commercial plant for enhanced lithium nickel oxide (eLNO) cathode materials, also in partnership with the state-owned FMG.

Freyr and FMG have signed a memorandum of understanding to evaluate "technological options and cooperation and business models” for the potential plant.

FMG chief executive Matti Hietanen said the group wanted to create a sustainable battery value chain in Finland and the partnership was "the next logical step in our work to put Finland on the map of European cell plant projects”.
Supply chains
Freyr founder and executive chairman Torstein Dale Sjøtveit said developing supply chains of "short-travelled” battery materials, to supply plants in Norway and other potential facilities in the Nordic region, was key to the company's low-carbon production strategy.

"We look forward to exploring the potential industrial scaling of battery cell technology including development of both traditional and next-generation production capacity together with FMG.”

Freyr recently listed on the New York Stock Exchange after a merger deal with Alussa Energy Acquisition and has started work to bring 43 GWh of battery cell manufacturing capacity online in Norway by 2025.

World Battery News reported earlier this year on Finland’s release of a new ‘National Battery Strategy 2025’ – promoting the country as an investment destination for sustainable battery production and recycling.

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