On December 21, 2020, FREYR AS and 24M Technologies, Inc. announced the signing of a definitive license and services agreement to use 24M’s SemiSolid lithium-ion battery platform technology in FREYR’s planned facilities in Mo i Rana, Norway.

FREYR is targeting the development of over 40 GWh of scalable, modular battery cell production capacity via a phased development approach utilizing deep partnership-based strategies, including in-licensing of next generation technologies. 24M’s SemiSolid platform technology provides unique opportunities for the production of cost-optimized, application-specific designs in both grid and electric mobility markets.

The license agreement provides FREYR with rights to unlimited production of battery cells based on 24M’s current and all future technology. This will enable FREYR to benefit from 24M’s ongoing R&D and integrate future versions of the SemiSolid platform into its production and sales of battery cells into all market segments. FREYR will pay both upfront and running fees to 24M.

The Wilson Sonsini team that represented FREYR in the transaction includes: 

Technology Transactions
James Clessuras, Partner

Corporate
Mark Solakian, Partner
Mark Baudler, Partner

Regulatory & Compliance
Josephine Aiello LeBeau, Partner

For more information, please see FREYR's press release.