Giga America, a Freyr battery manufacturing facility will be located in Coweta County, Georgia, USA. Boston-based 24M Technologies will develop the batteries. The plant is based on the new generation SemiSolid lithium-ion battery technology platform.
An important investment
Giga America will be located at the Bridgeport Industrial Park site in Coweta County. In particular, the location offers significant scope for additional development projects. The aim is to strengthen an already strong cost position and improve the carbon footprint of the batteries produced.
The Giga America plant will be based on the SemiSolid platform from 24M Technologies. It greatly simplifies the production process of lithium-ion batteries. This is because it allows for highly efficient manufacturing at scale in terms of capital, labor and energy.
The Giga America plant project has several phases. The first is an initial cell production module of about 34GWh. It has a preliminary estimated capital investment of $1.7 billion.
The second phase of production is expected to bring the total investment to over $2.6 billion by 2029. Over the life of the project, the Norwegian company expects to create more than 720 U.S. jobs in Coweta County. Once operational, Giga America is expected to be one of the largest battery cell manufacturing developments in the world.
A favorable context
The development of Giga America enables Freyr to meet the growing demand for storage system applications. U.S. demand is expected to increase again. The demand is based on the new segments of commercial mobility and electric vehicles.
Freyr accelerates planned expansion in the United States based on renewable energy development. The company is benefiting from increased network stability initiatives. In addition, it benefits from the tax incentives recently announced in the Inflation Reduction Act.
The State of Georgia and Coweta County collectively provide strong financial incentives for the Giga America project. Freyr further intends to seek action from the U.S. Department of Energy that could potentially include a subsidy. The Norwegian company is also requesting a direct loan to assist in the development and eventual acceleration of the project.
Freyr is evaluating clean power solutions for Giga America with regional utility providers. This includes the potential development of a solar and storage facility. In addition, the company intends to install 200GWh of annual battery cell capacity in the United States by 2030.
