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FREYR Battery ( (FREY) ) has provided an update.
FREYR Battery has completed the acquisition of Trina Solar’s U.S. manufacturing assets, marking a significant step in its strategy to establish a U.S.-based solar and battery storage company. The acquisition includes a 5 GW solar module manufacturing facility in Texas, expected to be fully operational by the second half of 2025, and is backed by firm offtake contracts with U.S. customers. This move is anticipated to create up to 1,800 jobs, satisfy local content requirements, and solidify FREYR’s position in the renewable energy sector.
More about FREYR Battery
FREYR Battery (NYSE: FREY) is a clean energy solutions provider focusing on developing an integrated U.S. supply chain for solar and battery storage solutions. The company is positioned as a leading solar manufacturing entity in the U.S. and is exploring opportunities to optimize its assets in Europe.
YTD Price Performance: 62.03%
Average Trading Volume: 3,761,719
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $425.7M
For a thorough assessment of FREY stock, go to TipRanks’ Stock Analysis page.
