Freyr gets €100m EU grant for Giga Arctic project

Freyr gets €100m EU grant for Giga Arctic project

Freyr gets €100m EU grant for Giga Arctic project 1024 512 Energy Storage Journal

July 20, 2023: Freyr Battery has been awarded €100 million ($112 million) from the European Union to support its Giga Arctic project in Norway.

The grant, from the EU’s Innovation Fund, provides timely support for continued development of Freyr’s 29GWh nameplate capacity project, co-founder and CEO Tom Einar Jensen said on July 13.

Freyr’s board gave the go-ahead to start construction of the facility in June 2022.

Giga Arctic will be powered with 100% renewable hydroelectricity, the company says.

Last November, Freyr announced it had bought a site in the US state of Georgia to build its planned Giga America battery cells manufacturing plant.

The first phase of that project will have an annual production capacity of around 34GWh.

In March, Freyr held an inaugural ceremony for its separate battery cells customer qualification plant in the north of Norway.

The CQP in Mo i Rana hosts an industrial-scale demonstration battery cells production line based on 24M’s semi-solid lithium ion technology.

Freyr plans to develop up to 43GWh of battery cell production capacity by 2025, with an ambition of up to 83GWh in total capacity by 2028.