Invested through	Triodos Pioneer Impact Fund Triodos Multi Impact Fund Triodos Impact Strategy Fund - Defensive Triodos Impact Strategy Fund - Balanced Triodos Impact Strategy Fund - Offensive Triodos Impact Strategy Fund - Dynamic
Asset Classes	Listed equity
Impact strategy	Impact Equities and Bonds
Bloomberg ticker	FREY US
ISIN code	LU2360697374
Industry group	Capital 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).

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The purpose of this tool is to inform investors about the type of investments and their potential sustainability impact. The information in the tool is of a general nature and does not constitute an opinion of Triodos Investment Management of the financial instrument. Therefore, the tool is not intended and should not be construed as an offer, invitation or general solicitation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or investment recommendation.

Impact Equities and Bonds

The SDGs mentioned in the company sections are linked to the (main) transition theme that the company contributes to, not directly to its products or services. Refer to the Sustainability Annex in the prospectus for more information.

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