FREY FREYR Battery Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): October 24, 2024

 

FREYR Battery, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware		333-274434		93-3205861
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

6&8 East Court Square, Suite 300,

Newnan, Georgia 30263

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code: (678) 632-3112

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value		FREY		The New York Stock Exchange
Warrants, each whole warrant exercisable for one Common Stock at an exercise price for $11.50 per share		FREY WS		The New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 8.01. Other Events.

 

On October 24, 2024, FREYR Battery, Inc., a Delaware corporation (the “Company” or “FREYR”), issued a press release announcing that the European Union Innovation Fund has selected FREYR for a €122 million grant award to develop the Company’s potential joint venture Cathode Active Material manufacturing project in Vaasa, Finland. A copy of the press release is attached hereto as Exhibit 99.1.

 

The press release is being furnished pursuant to Item 8.01 and will not be deemed to be filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor will it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.		Description
99.1		Press Release, dated October 24, 2024, announcing FREYR Battery, Inc.’s Award of the EU Innovation Fund Grant
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

	FREYR Battery, Inc.
	By:	/s/ Daniel Barcelo
		Name:	Daniel Barcelo
		Title:	Chairman of the Board of Directors

 

Dated: October 24, 2024

 

 

2

Exhibit 99.1

 

 

News Release

 

FREYR Battery Selected by European Union Innovation Fund for Grant Award

 

European Union Innovation Fund selects FREYR for €122 million grant award to support FREYR’s potential joint venture Cathode Active Materials manufacturing project in Finland

 

New York, Oslo, and Newnan, GA, October 24, 2024, FREYR Battery, Inc. (NYSE: FREY) (“FREYR” or the “Company”), a developer of sustainable battery and clean energy solutions, confirmed this morning that the European Union Innovation Fund (“EUIF”) has selected FREYR for a €122 million grant award to develop the Company’s potential joint venture Cathode Active Material (“CAM”) manufacturing project in Vaasa, Finland.

 

“We are very grateful to be selected for this grant award from the EU Innovation Fund, which demonstrates the EU’s continued support for FREYR’s ongoing industrialization efforts of sustainable battery value chain solutions,” commented Tom Einar Jensen, FREYR’s Co-founder and Chief Executive Officer. “FREYR is focused on its development efforts in the U.S. while we continue to explore avenues to unlock shareholder value from our portfolio of real assets and potential projects in Norway and Europe such as the proposed CAM facility in Finland. We look forward to collaborating with our colleagues at the EUIF to finalize this grant.”

 

This EUIF grant is tied to a proposed Cathode Active Materials (CAM) project in Vaasa, Finland and the project is targeting development of an industrial scale LFP CAM facility with an initial nameplate capacity of 30,000 tons per year.

 

The selection for a grant award is an important step towards formal finalization of the award upon satisfaction of various criteria, expected to be completed during the 1^st quarter of 2025. Concurrently, FREYR continues the work with its technology licensor, partners, customers, and other stakeholders to further develop the basis for the CAM project.

 

***

 

1 | News Release | FREYR Battery | www.freyrbattery.com/news

 

 

 

About FREYR Battery

 

FREYR Battery is a developer of sustainable battery and clean energy solutions. The Company’s mission is to accelerate the decarbonization of global energy systems by industrializing technologies across the battery and renewables value chains. FREYR’s portfolio of real assets includes its Customer Qualification Plant (“CQP”) for technology research and development in Mo i Rana, Norway, and the Giga Arctic and Giga America project site assets. To learn more about FREYR, please visit www.freyrbattery.com.

 

Investor contact:

 

Jeffrey Spittel

Senior Vice President, Investor Relations & Corporate Development

jeffrey.spittel@freyrbattery.com

Tel: (+1) 409 599-5706

 

Media contact:

 

Amy Jaick

Global Head of Communications
amy.jaick@freyrbattery.com

Tel: (+1) 973 713-5585

 

Cautionary Statement Concerning Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation with respect to the Company’s operational performance and profitability. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual future events, results or achievements to be materially different from the Company’s expectations and projections expressed or implied by the forward-looking statements. Important factors include, but are not limited to, actions of activist stockholders and those discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “Form 10-K”) and the Company’s other filings with the SEC. Forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company assumes no obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

2 | News Release | FREYR Battery | www.freyrbattery.com/news

 

 

 

v3.24.3

Cover	Oct. 24, 2024
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 24, 2024
Entity File Number	333-274434
Entity Registrant Name	FREYR Battery, Inc.
Entity Central Index Key	0001992243
Entity Tax Identification Number	93-3205861
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	6&8 East Court Square, Suite 300
Entity Address, City or Town	Newnan
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30263
City Area Code	678
Local Phone Number	632-3112
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock, $0.01 par value
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	FREY
Security Exchange Name	NYSE
Warrants, each whole warrant exercisable for one Common Stock at an exercise price for $11.50 per share
Title of 12(b) Security	Warrants, each whole warrant exercisable for one Common Stock at an exercise price for $11.50 per share
Trading Symbol	FREY WS
Security Exchange Name	NYSE

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