Financial Data and Key Metrics Changes - For Q1 2024, the company reported a net loss of $29 million, or $0.20 per share, compared to a net loss of $25 million in Q4 2023 and a loss of $13 million in Q1 2023 [34] - Cash and equivalents at the end of Q1 2024 were $253 million, with no debt, reflecting total cash uses of $23 million in Q1 2024 compared to $52 million in Q4 2023 and $88 million in Q1 2023 [38] Business Line Data and Key Metrics Changes - The company is focusing on four distinct commercial and project-related opportunities, having added one e-mobility project while eliminating two previously considered projects in the EV market in Europe [2] - The Giga America site in Georgia is advancing with conventional technology, expected to be the earliest path to market for scaled production [4] Market Data and Key Metrics Changes - The storage market is experiencing exponential growth, driven by renewables proliferation and electrification, with the company well-positioned to play a significant role [58] - The company is actively evaluating significant opportunities that may merit short-term investment while leading to longer-term capital formation [32] Company Strategy and Development Direction - The company aims to accelerate its path to commercialization and first revenues, prioritizing capital raises associated with high-value projects [10] - The dual strategic approach involves developing next-generation technology while securing rights to build and operate conventional technology [45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in moving from an aspiring battery company to a battery-producing company with strong optionality and technology partnerships [47] - The company is focused on preserving cash and deploying capital to generate shareholder value amid a challenging interest rate environment [61] Other Important Information - The company has reduced full-time employees by 20% and contractors by 50% compared to November 2023, reflecting a strategic refocus [36] - The board of directors has been strengthened with the appointment of three seasoned professionals to enhance shareholder alignment and value creation [48] Q&A Session Summary Question: What are the key stages left before automated cell production can begin? - Management indicated that the remaining steps involve tuning the multi-carrier system to ensure proper assembly of unit cells [72] Question: How did the company identify the four distinct projects in the growth initiative? - The company noted that most opportunities came from inbound inquiries, indicating a growing recognition as a credible partner in the industry [15] Question: What does an ideal opportunity in the battery components side of the value chain look like? - Management emphasized the importance of relationships and a funnel approach to evaluate and advance actionable opportunities [83]

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Discouraging news from the industry's bellwether company rocked the sector.In the still-developing electric vehicle (EV) industry, what happens to its leading company tends to affect every other manufacturer and supplier. That's why some troubling news from the No. 1 EV maker almost immediately filtered down into the rest of the sector Monday, impacting the prices of fellow manufacturers and associated companies alike.Up-and-coming Asian EV maker VinFast (VFS -9.44%), for example, saw its share price decele ...

When it comes to speculating on the future of mobility and transportation, battery stocks may be your best bet. Sure, targeting individual electric vehicle brands may give you the greatest reward potential. But as we’ve seen lately, this dynamic also works in the opposite direction.Another worrisome aspect of going the “direct” EV route is that you just don’t know which brand will win out. Again, we’ve already seen once-heralded enterprises succumb to unprecedented pressure. Rather than dealing with this vo ...

Progress in the electric vehicle (EV) sector is largely governed by the batteries that provide their power. EVs continue to face significant challenges in comparison to internal combustion engine vehicles. That’s why innovative firms in the battery space continue to have compelling stocks.One of the limiting factors is battery technology. The companies solving that issue will be rewarded handsomely. Those are exactly the firms that we will be discussing today. The progress they continue to make has the pote ...

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Tyler DiMatteo Tom Einar Jensen - Executive Chairperson Company Participants Birgir Steen - Chief Executive Officer Oscar Brown - Group Chief Financial Officer Tyler DiMatteo - BTIG Hello and welcome to FREYR BatteryÂ's Fourth Quarter and Full Year 2023 Conference Call. With me today on the call are Tom Einar Jensen, our Executive Chairperson; Birgir Steen, our Chief Executive Officer; Oscar Brown, our Chief Financial Officer; Jeremy Bezdek, Executive Vice President of Corporate Development and President FR ...

Freyr Battery Inc. (FREY) is slated to report fourth-quarter and full-year 2023 results on Feb 29, before market open.   In the last reported quarter, the company delivered an earnings surprise of 82.50%. It also delivered a trailing four-quarter average earnings surprise of 38.71%.Factors to NoteAs FREY continues with its development of the Giga America battery manufacturing project in Coweta County, GA, we may expect to receive further information on this once the company releases fourth-quarter results.D ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission File Number: 001-40581 FREYR Battery (Exact name of Registrant as specified in its charter) | Luxembourg | Not Applicable ...

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