FREYR Battery

Invested through
  • Triodos Pioneer Impact Fund
Asset ClassesListed equity
Impact strategyImpact Equities and Bonds
Bloomberg tickerFREY US
ISIN codeLU2360697374
Industry groupCapital Goods
Aligned with SDGs

FREYR Battery produces emerging clean battery solutions for a better planet. The company designs and manufactures lithium-ion batteries. FREYR Battery serves electric mobility, stationary energy storage, marine, and aviation applications worldwide.

Investment rationale

Freyr produces semi-solid batteries, licensed via 24M. Whereas conventional li-ion batteries only use liquid electrolyte, 24M's batteries combine liquid electrolyte with solid active materials, which provides some key advantages. Semi-solid batteries are projected to have higher energy density than conventional li-ion batteries. 24M has reached 350 Wh/kg in the lab, compared to Tesla's which is seen as the best conventional li-ion battery and currently gets to 250-260 Wh/kg. In addition, material cost is expected to be around 40% lower due to lower active material use (less copper and aluminium, and no separator use).