Climate is the foundation of FREYR’s vision and mission
FREYR Battery’s vision is to accelerate the decarbonization of global transportation and energy systems. Our mission is to do so by producing clean battery cells. Mitigating climate change is at the heart of FREYR’s vision and mission.
FREYR fully supports the findings and recommendations of the Intergovernmental Panel on Climate Change (IPCC ) and supports the Conference of the Parties (COP)-negotiations to-date. We are committed to finding and contributing to global solutions, and we urge all governments to urgently implement actions to mitigate and adapt to climate change. See our COP messages here.
The world’s leaders committed during the COP21 in Paris in 2015 to limit global warming to 1.5 degrees Celsius. According to IPCC this will require reducing global GHG-emissions by 50% by 2030 compared to 2005-levels. The urgency and scale of the challenge is tremendous. And yet much of the needed technologies and capital are available for the world to do the job. Batteries are a key component. However, the batteries themselves have to lower their carbon footprint.
See analysis of the technological changes needed here.
Decarbonizing Our Customer
Transitioning to EVs and scaling up renewable energy in the power sector is expected to drive a multi-decade decarbonization of these major CO2-emitting sectors of the global economy. Our ambition is in the year 2030 to produce and sell batteries that over their lifetime may abate 345 mtons of CO2. This equals the annual emissions of 130 million gasoline cars. And this we will do every year from then on - and hopefully more. See here for more about our abatement ambition and the calculations behind.
This transition to cleaner sources of power and energy is expected to grow the demand for batteries, from storage capacity of 345 GWh globally in 2021 to potentially as much as 13-20,000 GWh in 2040. See different market analyses for the demand for batteries per segment here.
The growth of wind and solar electricity generation within the power sector represents a good opportunity for batteries, which will be required to ensure that power supply can run without interruption, 24 hours a day. See our presentation of Energy Storage Systems (ESS) here.
FREYR plan to also supply batteries to the electric truck and personal electric car markets. A vehicle’s battery constitutes a substantial part of its cost, and the environmental and social standards of the battery could be important to the brand of the car. See our announcements of sales agreements in both sectors here. See more about our products and customers on our web pages.
FREYR aims to deliver battery cells with ~zero CO2 emissions from our own manufacturing process and emissions of only 15 kg CO2 per kWh from throughout the value chain by 2030. This compares with global industry averages and reference for batteries of CO2 emissions from cradle-to-gate of between 80-100 kg CO2 per kWh today. Our aim is to produce batteries with a net-zero carbon footprint from cradle to gate by 2035, a term which includes the stages of product development from extraction of raw materials through manufacturing but excludes distribution, usage, and recycling, reuse and ultimate disposal.
We have analyzed the life cycle impacts of the battery cells to be produced at our CQP and developed a road map for how to reach our targets, largely by implementing changes in the supply chain. See here for our LCA summary with hot spots and actions available to us to our ambition levels.
We plan to use clean hydro power for our plants in Mo I Rana, Norway. Our further focus is to decarbonize our supply chain and to expand the use of renewable energy in more than just our cell production facilities. We believe this can happen through investment in renewable-energy development by our suppliers or their governments or through relocating our sourcing, if possible, of key inputs to our manufacturing process to areas where renewable-energy assets are or will be made available. Our announcement to potentially invest in manufacturing the LFP cathode material in the Nordics, is one such step in the process of decarbonizing our supply chain. As our supply chain is complex, working together with our suppliers is a key path in achieving our zero-carbon goals. See the press release about the LFP Cathode Factory here.