FREYR Battery Shares Jumped 26% Wednesday

٢٢ مايو

Freyr Battery, Inc. (FREY) shares jumped 26% Wednesday on the completion of its first production trial of unit cells using the full capabilities of the Casting and Unit Cell Assembly machine, marking a significant technical achievement. This milestone positions Freyr as a trailblazer in giga-scale battery production, becoming the first company globally to demonstrate such functionality for the second generation of the 24M Technologies SemiSolid platform. As Freyr (FREY) advances towards full automation of its production line equipment, it is working to solidify its role as a leading partner in novel lithium-ion battery production technologies, particularly those rooted in U.S. intellectual property.

Mike Brose, Freyr's Head of the Asset Mo team, expressed pride in the accomplishment and emphasized the collective effort of Freyr's people, vendors, and partners. The successful integration of casting webs across the cathode, anode, and merge units highlights the advanced capabilities of the Multi-Carrier System (MCS), contributing to this groundbreaking achievement.

Freyr (FREY) is now poised to move into trial production using a continuous process, enabling teams to perform data and performance analysis of the unit cells, surge production speeds, and proceed to manufacture mechanically complete sample cells in Q2. Following the successful production trial, Freyr (FREY) is focused on a three-step roadmap to producing sample cells in the second quarter.

Technical Outlook
Freyr (FREY) has been on a bearish trend for over 6 months now and has consolidated in price meaning a trend reversal is on the horizon. Trading with a Relative Strenght Index (RSI) of 74.45 FREY stock is poised for further gains.