Upon providing an operational update, shares of FREYR Battery, Inc. (NYSE: FREY) experienced a substantial increase in the previous trading session, soaring by 26.40% to close at $2.49.
Significant Milestone Achieved At Customer Qualification Plant
FREYR Battery (FREY) has released an update on the progress at its Customer Qualification Plant (CQP) in Mo i Rana, Norway. The company’s teams, vendors, and partners have reached a significant technical milestone by producing unit cells with full functionality using the Casting and Unit Cell Assembly machine, a key component of the innovative SemiSolid platform.
While further work is required to streamline automation, enhance material composition, and finalize commissioning stages, this achievement marks the completion of critical path equipment commissioning. This progress is expected to allow FREYR to begin increasing production speeds and manufacturing multi-layer battery sample cells by the second quarter of 2024.
Advancements In SemiSolid Technology And Future Prospects
This milestone is a substantial advancement for FREYR Battery at Asset Mo. With the capability to manufacture cells using the next-generation Casting and Unit Cell Assembly, FREYR Battery is now ready to commence trial production using a continuous process.
The next phase will enable the company to conduct data and performance analysis of the unit cells, accelerate production speeds, and proceed to manufacturing mechanically complete sample cells in the second quarter.
The SemiSolid technology differentiates itself from conventional lithium-ion battery manufacturing, which involves producing electrodes on separate equipment before assembling them into cells and subsequently filling them with electrolyte.
The SemiSolid process employs a continuous and integrated method, starting with electrode coating and moving to electrode stacking. The subsequent steps to produce a complete cell in a pouch, comprising multiple unit cells, have already been developed and validated on the SemiSolid platform.
Integration And Automation Success
This production trial was made possible by the successful integration of casting webs across the cathode, anode, and merge units of the Casting and Unit Assembly equipment, utilizing the highly advanced Multi-Carrier System (MCS).
According to FREYR Battery’s automation partner, Siemens AG, this system is the largest of its kind globally, further highlighting the technical prowess of FREYR Battery’s operations.
