Freyr appoints service provider to construct its Giga Arctic battery plant

• Norwegian battery cell firm Freyr Battery (NYSE: FREY) on Friday said it has actually authorized a contract with Norwegian building company HENT when it comes to the building of its very first factory, locatd in Mo i Rana, Norway, and called Giga Arctic.

HENT will be in charge of preparation, project management and also building of the 120,000 sq m (1,291,669 sq ft) battery plant including centers as well as framework.

Freyr has been collaborating with HENT since the end of 2021 on the initial stage of growth for the Giga Arctic factory. The new contract stands for the begin of phase 2 and also the beginning of building and construction, the firm said.

"With HENT currently at the helm of building Giga Arctic, we anticipate to be well-positioned to satisfy our targets for clean battery production," stated Einar Kilde, Freyr executive vice president project execution.

Freyr intends to install 50 GWh of annual battery cell capacity by 2025, 100 GWh by 2028 and 200 GWh by 2030.