Latest news with #FREYRBattery
Associated Press
10-02-2025
- Business
- Associated Press
FREYR Battery Announces Austin, Texas as Location for New Corporate Headquarters
NEW YORK & AUSTIN, Texas--(BUSINESS WIRE)--Feb 10, 2025-- FREYR Battery (NYSE: FREY) ('FREYR' or the 'Company') announced this morning that the Company has selected Austin, Texas, as the location for its new global headquarters to geographically align the Company's workforce with its operations and strategy to provide solar modules made in the United States. This announcement coincides with the ongoing ramp of production at FREYR's G1 solar module facility in Wilmer, Texas, which already employs more than 1,000 people across the Wilmer and Dallas communities. Establishing Corporate Headquarters in Austin, Texas FREYR has selected Austin, Texas as the location for the Company's global headquarters in support of FREYR's corporate development, operations, and strategy. Austin is strategically located near FREYR's operating U.S. solar module manufacturing facility in Wilmer, Texas, and provides access to an emerging talent pool within the booming, business-friendly Texas economy to support the Company's growth aspirations. FREYR's global headquarters will be located at 1211 E 4 th St., Austin, TX 78746. 'Today marks another important step for FREYR as we execute our strategic plan to establish an integrated U.S. solar + battery storage manufacturing enterprise built on advanced technology,' commented Daniel Barcelo, FREYR's Chairman of the Board and Chief Executive Officer. 'Our global headquarters will be in Austin, Texas, which is a vibrant and fast-growing hub of renewable energy and advanced technology development, strategically located close to our operations. As we move forward with our strategy to build an integrated American solar + storage manufacturing network, we intend to bring more than 1,000 new American jobs to the Texas economy. We look forward to building our teams in Austin and Wilmer, establishing a Texas job creation engine, and working with our partners across industry and government to invest in critical U.S. infrastructure.' Sale of Coweta County Site in Georgia In conjunction with the Company's relocation to Texas, FREYR has entered into a definitive agreement to sell its 368-acre site in Coweta County, Georgia, to an undisclosed party for gross sales proceeds of $50 million. The transaction is expected to close on February 15, 2024. Estimated net proceeds to FREYR are expected to total $22.5 million following repayment of previously received state and local grants. About FREYR FREYR (NYSE: FREY) is an energy solutions provider building an integrated U.S. supply chain for solar and batteries. In December 2024, FREYR completed a transformative transaction, positioning the Company as one of the leading solar manufacturing companies in the U.S., with a complementary solar and battery storage strategy. Based in the U.S. with plans to expand its operations in America, the Company is also exploring value optimization opportunities across its portfolio of assets in Europe. To learn more about FREYR, please visit and follow @FREYRBattery on social media. 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 (including its strategic objective to develop U.S.-made solar modules), any expected jobs created as a result of the establishment of the Company's headquarters in Austin, any other anticipated benefits or advantages of establishing the Company's headquarters in Austin and any expected timings of and proceeds from the sale of the Coweta County site. 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, 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. FREYR intends to use its website as a channel of distribution to disclose information which may be of interest or material to investors and to communicate with investors and the public. Such disclosures will be included on FREYR's website in the 'Investor Relations' sections. FREYR also intends to use certain social media channels, including, but not limited to, X and LinkedIn, as means of communicating with the public and investors about FREYR, its progress, products, and other matters. While not all the information that FREYR posts to its digital platforms may be deemed to be of a material nature, some information may be. As a result, FREYR encourages investors and others interested to review the information that it posts and to monitor such portions of FREYR's website and social media channels on a regular basis, in addition to following FREYR's press releases, SEC filings, and public conference calls and webcasts. The contents of FREYR's website and other social media channels shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. KEYWORD: TEXAS NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: OTHER ENERGY SUSTAINABILITY BATTERIES ALTERNATIVE ENERGY ENERGY TECHNOLOGY ENVIRONMENT OTHER MANUFACTURING GREEN TECHNOLOGY PACKAGING OTHER TECHNOLOGY MANUFACTURING SOURCE: FREYR Battery Copyright Business Wire 2025. PUB: 02/10/2025 06:01 AM/DISC: 02/10/2025 06:02 AM
Yahoo
28-01-2025
- Business
- Yahoo
Analysts Are Optimistic We'll See A Profit From FREYR Battery, Inc. (NYSE:FREY)
We feel now is a pretty good time to analyse FREYR Battery, Inc.'s () business as it appears the company may be on the cusp of a considerable accomplishment. FREYR Battery, Inc. provides battery solutions in the United States, Norway, and internationally. The company's loss has recently broadened since it announced a US$72m loss in the full financial year, compared to the latest trailing-twelve-month loss of US$107m, moving it further away from breakeven. As path to profitability is the topic on FREYR Battery's investors mind, we've decided to gauge market sentiment. We've put together a brief outline of industry analyst expectations for the company, its year of breakeven and its implied growth rate. Check out our latest analysis for FREYR Battery FREYR Battery is bordering on breakeven, according to some American Electrical analysts. They anticipate the company to incur a final loss in 2024, before generating positive profits of US$19m in 2025. So, the company is predicted to breakeven approximately 12 months from now or less. We calculated the rate at which the company must grow to meet the consensus forecasts predicting breakeven within 12 months. It turns out an average annual growth rate of 112% is expected, which signals high confidence from analysts. Should the business grow at a slower rate, it will become profitable at a later date than expected. Underlying developments driving FREYR Battery's growth isn't the focus of this broad overview, but, take into account that typically a high forecast growth rate is not unusual for a company that is currently undergoing an investment period. Before we wrap up, there's one aspect worth mentioning. FREYR Battery currently has no debt on its balance sheet, which is rare for a loss-making growth company, which typically has high debt relative to its equity. The company currently operates purely off its shareholder funding and has no debt obligation, reducing concerns around repayments and making it a less risky investment. This article is not intended to be a comprehensive analysis on FREYR Battery, so if you are interested in understanding the company at a deeper level, take a look at FREYR Battery's company page on Simply Wall St. We've also compiled a list of pertinent aspects you should look at: Historical Track Record: What has FREYR Battery's performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on FREYR Battery's board and the CEO's background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
