Honeywell acquiring 19 GWh in FREYR Battery Cell capacity

Jan. 20, 2022
The FREYR battery cells will be used at industrial locations and renewable power generation sites

FREYR Battery has signed an agreement with Honeywell to leverage Honeywell’s technology offerings, including field instrumentation, integrated automation and security integration solutions, into their manufacturing process.

Honeywell will buy 19 GWh of FREYR battery cells, made between 2023 and 2030, for its energy storage systems applications.

Honeywell and FREYR will provide smart energy storage solutions to address the needs of its commercial and industrial customers. FREYR will leverage Honeywell’s automation and software expertise, including quality assurance and controls and industrial software, for its manufacturing capacity at scale in the U.S. and Europe.

The battery cells will be used by “behind-the-meter” or industrial locations and “front-of-the-meter” locations, like solar and wind renewable power generation sites.

FREYR’s Chief Executive Officer Tom Einar Jensen explained, “Battery storage will play a crucial role as organizations transition to clean power generation. Honeywell is an ideal partner with world class teams, technology and industrial expertise and our shared commitment to decarbonizing the global energy systems sector will serve as the foundation for our continued work together. Today’s announcement is also an important milestone as we advance to a potential H1 2022 Final Investment Decision (“FID”) on our first Gigafactory in Mo i Rana, Norway.”

“Introducing decarbonized storage solutions at scale across multiple geographic markets is vital to our continued sustainability efforts and in turn, helps to make renewable energy accessible and efficient,” said Ujjwal Kumar, President & CEO, Honeywell Process Solutions. “This collaboration will pair FREYR’s next-generation battery solutions with Honeywell’s 20 years of lithium-ion battery industry know-how and established routes to markets and customers.”

Honeywell’s work with FREYR builds on its efforts to reducing greenhouse gas intensity at its facilities and operations and its efforts to help customers achieve their environmental and social goals.