FREYR Battery Announces Transformative Acquisition of Trina Solar’s U.S. Manufacturing Assets, Actions to Strengthen Board of Directors and Management Team
FREYR Battery, Inc. (FREY)
Company Research
Source: Business Wire
NEW YORK & OSLO, Norway & NEWNAN, Ga.--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR” or the “Company”) has announced that the Company has entered into an agreement to acquire the U.S. solar manufacturing assets of Trina Solar Co Ltd. (SHA: 688599) (“Trina Solar”). The transaction is subject to certain customary conditions precedent, including receipt of certain third-party consents, completion of the preferred stock issuance to Encompass Capital Advisors LLC and internal reorganization to be completed by Trina Solar and is expected to close around year end 2024.HighlightsThe transaction is expected to close year end 2024 and creates a leading integrated U.S.-owned and operated solar technology company with a pathway for value enhancing growthFREYR is acquiring 5 GW, 1.35 million square foot solar module manufacturing facility in Wilmer, Texas that started production on November 1, 2024Trina Solar is a global leader in solar and renewable energy industry with an established
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FREY
News
- FREYR Battery Reports Third Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- FREYR Battery Reports Third Quarter 2024 ResultsBusiness Wire
- Supply Chain Risks Grow as Demand for EV Battery Materials Intensifies, Say AnalystsPR Newswire
- Supply Chain Risks Grow as Demand for EV Battery Materials Intensifies, Say AnalystsPR Newswire
- FREYR Battery Selected by European Union Innovation Fund for Grant Award [Yahoo! Finance]Yahoo! Finance
FREY
Earnings
- 2/29/24 - Beat
FREY
Sec Filings
- 11/13/24 - Form 8-K
- 11/13/24 - Form 4
- 11/12/24 - Form 10-Q
- FREY's page on the SEC website