Freyr to source battery materials from Itochu
Norwegian battery company Freyr has entered into a cooperation agreement with Japan-based trading company Itochu to secure the raw materials needed for Freyr’s planned gigawatt-scale battery production.
The agreement, which has now been signed, stems from a memorandum of understanding that was signed back in 2020. It is now clear that Itochu “will act as a direct material supplier for Freyr’s procurement and supply chain activities, according to the Norwegian company.
The only thing is that the announcement does not specify exactly which raw materials the collaboration will involve. The ‘Giga Arctic’ factory is under construction, but Freyr already operates its Customer Qualification Plant (CQP) at the Mo i Rana site. The company signed several supplier contracts for this in February. As reported in October, Freyr plans to produce the LFP cathode material for the ‘Giga Arctic’ itself under a license from Aleees – but it is not directly confirmed whether raw material procurement for this will be handled by Itochu.
One point unites all three companies, however: A partnership with US battery cell developer 24M Technologies. Freyr is a license partner of 24M, and Itochu invested in 24M last year. Aleees, for its part, is an approved supplier of LFP cathode material to 24M.
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