FREYR and Nidec finalize their joint venture

The alliance between FREYR and Nidec that we announced in August is taking shape. The new entity aims to develop and provide integrated battery energy storage solutions (BESS). Highly competitive, but also products with low environmental impact.

Production announced for 2025

The ambition is to manufacture more than 8 GWh per year of battery modules and packs from 2027. And 12 GWh per year by 2030. In addition, FREYR’s Giga Arctic development is expected to integrate Nidec Energy’s module production. With integrated EHS solution volumes aligned with the company’s targeted increase in cell production in 2024.

Ultimately, the joint venture is expected to invest more than $127 million by 2030 and will employ more than 300 people, the majority of whom will be based in Norway.

Laurent Demortier, President of Nidec’s Energy and Infrastructure Division, says:

“We are thrilled with the progress we have made with FREYR. This joint venture will support the development of our fast-growing EHS business and aligns with our strong commitment to developing technologies that help reduce global carbon emissions. For us, FREYR is a natural partner with clean energy and sustainable development ambitions. They also bring expertise and resources related to battery cell design and manufacturing, which includes 24M SemiSolid lithium-ion battery cell technology.”

Tests already carried out

Constituting one of the prerequisites for the establishment of the joint venture. Nidec sent a set of 24M Technologies sample cells to a leading independent third-party laboratory on its behalf.

Thus, the tests will measure the capacity, charge and discharge profiles of the cells. As well as the technical performance. In order to confirm that the cells are operating in accordance with the specifications and data supplied by FREYR.

Therefore, the results indicate that the sample cells exhibited upper quartile gravimetric energy density performance for the LFP graphite batteries.

Then, characterization analysis showed very similar behavior across cells, and the behavior remains stable over several cycles. Especially with relatively low variability in the sample pool. Providing a positive indication of cell quality.

Finally, the cells exhibited best-in-class performance in thermal stability, indicating robust safety features.

. The formation of this joint venture catalyzes a binding sales contract. FREYR will supply Nidec with 38 GWh of new generation clean battery cells from 2025 to 2030.