FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, welcomes the Minister of Trade and Industry to launch the Norwegian Government's National Battery Strategy at FREYR Battery's giga giga factory location in Mo i Rana, Northern Norway.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220627005371/en/

"Sentraltomta" inside Mo industrial Park (Photo: Business Wire)

This was announced at the Norwegian government’s webpages Monday morning 27th June Norwegian time: https://www.regjeringen.no/no/aktuelt/naringsministeren-lanserer-regjeringens-batteristrategi/id2920877/

FREYR Battery CEO, Tom Einar Jensen, says: “We are very proud that the Norwegian Government has chosen FREYR Battery’s giga factory location in Mo i Rana, as the historic place to launch Norway's National Battery Strategy. We warmly welcome the Minister of Trade and Industry, and experience this as a strong confirmation of the maturity of FREYR Battery’s development of Norway’s first battery facility at giga scale”.

The news release from the Norwegian Government on the Battery strategy, states that:

On Wednesday 29 June at 10.30 am CET, Minister of Trade and Industry Jan Christian Vestre will present Norway's first battery strategy at Freyr Battery in Mo i Rana.

Vestre will present 10 measures for how Norway will develop a coherent and profitable battery value chain, from sustainable mineral extraction to battery recycling. The goal is for Norway to be an attractive host country for profitable activity throughout the battery value chain and to attract the large battery investments and gig factories.

The need for batteries globally towards 2030 is increasing very rapidly, and Norway has good prospects of gaining market share along the entire battery value chain. The battery strategy is part of the government's green industrial boost that will help create new jobs throughout Norway, strengthen investments on the mainland, increase exports outside oil and gas by 50% by 2030 and cut 55% of greenhouse gas emissions by the same year.

The battery strategy is launched with a player who has come a long way with the ambition of establishing the first battery cell factory in Norway.

Location:
FREYR Battery’s giga factory site, Sentraltomta, Mo Industrial Park,
Mo i Rana, Northern Norway.

Information about registration for the press, and internet TV (stream), as well as embedding codes - please go to: https://www.regjeringen.no/no/aktuelt/naringsministeren-lanserer-regjeringens-batteristrategi/id2920877/

View source version on businesswire.com: https://www.businesswire.com/news/home/20220627005371/en/

Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
jeffrey.spittel@freyrbattery.com
Tel: (+1) 281-222-0161

Media contact:
Katrin Berntsen
Vice President, Communication and Public Affairs
katrin.berntsen@freyrbattery.com
Tel: (+47) 9920 54 570

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