Latest news with #Freyr
Glasgow Times
23-04-2025
- Entertainment
- Glasgow Times
Eurovision singer Dadi Freyr to perform in Glasgow
Dadi Freyr, who finished the competition in fourth place with his song 10 Years, will be performing at the Old Fruitmarket in the city centre. The gig will take place on Wednesday, September 10. READ NEXT: Huge Scottish singer to perform at OVO Hydro in Glasgow The 32-year-old first rose to fame with his 2020 hit Think About Things, which went viral during lockdown. It has earner over 100 million streams. Freyr was meant to represent Iceland in the 2020 Eurovision Song Contest with Think About Things before the event was cancelled due to the Covid-19 pandemic. When he performed in 2021, Italy came first place followed by France and Switzerland. READ NEXT: Celtic hero to headline special event in Glasgow Tickets for the Glasgow show will go on sale at 10am on April 25. To purchase tickets, visit
Yahoo
07-02-2025
- Business
- Yahoo
Battery firm abandons plan for a $2.6 billion plant in Georgia
ATLANTA (AP) — A clean energy company is abandoning a plan to build a giant electric battery factory in Atlanta's suburbs after it shifted to buy a solar panel plant in Texas. Freyr Battery told officials in Newnan on Thursday that it wouldn't build a $2.6 billion plant that was supposed to hire more than 700 people. The factory would have built batteries to store electricity produced by renewable sources and release it later, company officials said. It would have been the second-largest battery factory worldwide when it was announced in 2023. But Freyr, a startup founded in 2018, never began construction on the 368-acre (149-hectare) site. Freyr, which moved its corporate headquarters from Norway to Newnan in part to maximize its eligibility for the U.S. tax benefits of President Joe Biden's climate law, said it was shifting its focus to a newly opened solar panel factory that it bought last year for $340 million from top Chinese solar panel maker Trina Solar. 'We are so grateful for the support and partnership we found in Coweta County and throughout Georgia," Freyr spokesperson Amy Jaick wrote in a statement, "However, as noted in our December release, we are focusing at the moment on the solar module manufacturing facility in Texas.' The Newnan Times-Herald first reported the story, saying Freyr senior vice president of business development Jason Peace met Thursday with the Coweta County Development Authority. The newspaper reported that Peace blamed rising interest rates, falling battery prices and a change in leadership at the company for the decision not to build the factory. The Georgia Department of Economic Development said the state conveyed a $7 million grant to buy a site for Freyr in Newnan, about 35 miles (55 kilometers) southwest of Atlanta. Department spokesperson Jessica Atwell said the state and company are 'working together' to ensure the money is 'repaid expeditiously.' 'Georgia's incentives process protects the Georgia taxpayer, and when a company's plans change, that process ensures discretionary incentives are repaid," Atwell said in a statement. The company had said it planned to build battery factories in Norway and Finland but said in November that it will try to sell its European business. The company also said it was terminating its license for technology to make batteries, paying $3 million to the company it was licensed from. Tom Einar Jensen, then the company's CEO, told investors in August that it had grown difficult to raise money to make batteries because of a surplus of Chinese batteries being produced at lower costs. The company said it was switching its strategy into businesses that would allow it to raise cash, including solar panel manufacturing. The company saw its cash on hand fall from $253 million at the end of 2023 to $182 million on Sept. 30. Georgia Gov. Brian Kemp has targeted recruitment of the electric vehicle industry. Korean firm SK Innovation built a $2.6 billion battery plant in Commerce, northeast of Atlanta and hired 3,000 workers, but later laid off or furloughed some workers. Hyundai Motor Group has started production at a $7.6 billion electric vehicle and battery plant near Savannah, with plans to hire 8,500 workers. Electric truck maker Rivian revived its plans to build a plant east of Atlanta after a $6.6 billion loan from the Biden administration. Jeff Amy, The Associated Press Sign in to access your portfolio
Yahoo
07-02-2025
- Business
- Yahoo
Battery firm abandons plan for a $2.6 billion plant in Georgia
ATLANTA (AP) — A clean energy company is abandoning a plan to build a giant electric battery factory in Atlanta's suburbs after it shifted to buy a solar panel plant in Texas. Freyr Battery told officials in Newnan on Thursday that it wouldn't build a $2.6 billion plant that was supposed to hire more than 700 people. The factory would have built batteries to store electricity produced by renewable sources and release it later, company officials said. It would have been the second-largest battery factory worldwide when it was announced in 2023. But Freyr, a startup founded in 2018, never began construction on the 368-acre (149-hectare) site. Freyr, which moved its corporate headquarters from Norway to Newnan in part to maximize its eligibility for the U.S. tax benefits of President Joe Biden's climate law, said it was shifting its focus to a newly opened solar panel factory that it bought last year for $340 million from top Chinese solar panel maker Trina Solar. 'We are so grateful for the support and partnership we found in Coweta County and throughout Georgia," Freyr spokesperson Amy Jaick wrote in a statement, "However, as noted in our December release, we are focusing at the moment on the solar module manufacturing facility in Texas.' The Newnan Times-Herald first reported the story, saying Freyr senior vice president of business development Jason Peace met Thursday with the Coweta County Development Authority. The newspaper reported that Peace blamed rising interest rates, falling battery prices and a change in leadership at the company for the decision not to build the factory. The Georgia Department of Economic Development said the state conveyed a $7 million grant to buy a site for Freyr in Newnan, about 35 miles (55 kilometers) southwest of Atlanta. Department spokesperson Jessica Atwell said the state and company are 'working together' to ensure the money is 'repaid expeditiously.' 'Georgia's incentives process protects the Georgia taxpayer, and when a company's plans change, that process ensures discretionary incentives are repaid," Atwell said in a statement. The company had said it planned to build battery factories in Norway and Finland but said in November that it will try to sell its European business. The company also said it was terminating its license for technology to make batteries, paying $3 million to the company it was licensed from. Tom Einar Jensen, then the company's CEO, told investors in August that it had grown difficult to raise money to make batteries because of a surplus of Chinese batteries being produced at lower costs. The company said it was switching its strategy into businesses that would allow it to raise cash, including solar panel manufacturing. The company saw its cash on hand fall from $253 million at the end of 2023 to $182 million on Sept. 30. Georgia Gov. Brian Kemp has targeted recruitment of the electric vehicle industry. Korean firm SK Innovation built a $2.6 billion battery plant in Commerce, northeast of Atlanta and hired 3,000 workers, but later laid off or furloughed some workers. Hyundai Motor Group has started production at a $7.6 billion electric vehicle and battery plant near Savannah, with plans to hire 8,500 workers. Electric truck maker Rivian revived its plans to build a plant east of Atlanta after a $6.6 billion loan from the Biden administration. Sign in to access your portfolio
Yahoo
07-02-2025
- Business
- Yahoo
Norwegian company abandons plans for $2.5 billion battery plant, 700 jobs in metro Atlanta
Plans that have been in the works for years to build a multi-billion battery plant in Coweta County have been scrapped. Norwegian-based company Freyr addressed the Coweta County Development Authority on Thursday announce the cancellation of their plans. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] The $2.57 billion battery manufacturing plant was first announced in Nov. 2022 and was slated to bring approximately 723 jobs into the area. The facility was set to be called Giga America and be located at the Bridgeport Industrial Park site. Freyr previously said it would produce lithium-ion batteries at the plant and help address the rapidly growing global markets for electric vehicles, energy storage and marine applications. TRENDING STORIES: Little Caesar's manager defends sign saying suspicious people will be reported to ICE 'It's really chaotic:' Federal employees in Georgia weigh whether to resign Woman says Cobb auto repair shop refused to hand over car until she paid for work that wasn't done The company didn't offer any reasoning for abandoning their plans, but a spokesperson told the Atlanta Journal-Constitution that they are 'focusing at the moment on the solar module manufacturing facility in Texas.' Company spokespeople had nothing but good things to say about working alongside Coweta County and the State of Georgia 'This decision in no way reflects any concern with the support from our State of Georgia and local partners, each of whom have provided stellar support and guidance. Georgia is a great state to do business,' a company spokesperson said in a letter to Coweta County Development Authority Executive Director Sarah Jacobs. [SIGN UP: WSB-TV Daily Headlines Newsletter]
Associated Press
07-02-2025
- Business
- Associated Press
Battery firm abandons plan for a $2.6 billion plant in Georgia
ATLANTA (AP) — A clean energy company is abandoning a plan to build a giant electric battery factory in Atlanta's suburbs after it shifted to buy a solar panel plant in Texas. Freyr Battery told officials in Newnan on Thursday that it wouldn't build a $2.6 billion plant that was supposed to hire more than 700 people. The factory would have built batteries to store electricity produced by renewable sources and release it later, company officials said. It would have been the second-largest battery factory worldwide when it was announced in 2023. But Freyr, a startup founded in 2018, never began construction on the 368-acre (149-hectare) site. Freyr, which moved its corporate headquarters from Norway to Newnan in part to maximize its eligibility for the U.S. tax benefits of President Joe Biden's climate law, said it was shifting its focus to a newly opened solar panel factory that it bought last year for $340 million from top Chinese solar panel maker Trina Solar. 'We are so grateful for the support and partnership we found in Coweta County and throughout Georgia,' Freyr spokesperson Amy Jaick wrote in a statement, 'However, as noted in our December release, we are focusing at the moment on the solar module manufacturing facility in Texas.' The Newnan Times-Herald first reported the story, saying Freyr senior vice president of business development Jason Peace met Thursday with the Coweta County Development Authority. The newspaper reported that Peace blamed rising interest rates, falling battery prices and a change in leadership at the company for the decision not to build the factory. The Georgia Department of Economic Development said the state conveyed a $7 million grant to buy a site for Freyr in Newnan, about 35 miles (55 kilometers) southwest of Atlanta. Department spokesperson Jessica Atwell said the state and company are 'working together' to ensure the money is 'repaid expeditiously.' 'Georgia's incentives process protects the Georgia taxpayer, and when a company's plans change, that process ensures discretionary incentives are repaid,' Atwell said in a statement. The company had said it planned to build battery factories in Norway and Finland but said in November that it will try to sell its European business. The company also said it was terminating its license for technology to make batteries, paying $3 million to the company it was licensed from. Tom Einar Jensen, then the company's CEO, told investors in August that it had grown difficult to raise money to make batteries because of a surplus of Chinese batteries being produced at lower costs. The company said it was switching its strategy into businesses that would allow it to raise cash, including solar panel manufacturing. The company saw its cash on hand fall from $253 million at the end of 2023 to $182 million on Sept. 30. Georgia Gov. Brian Kemp has targeted recruitment of the electric vehicle industry. Korean firm SK Innovation built a $2.6 billion battery plant in Commerce, northeast of Atlanta and hired 3,000 workers, but later laid off or furloughed some workers.
