Norwegian battery company Freyr recently confirmed plans to build a factory in Georgia that will supply batteries for energy storage.
Dubbed “Giga America,” the plant will be located on a 368-acre site in Coweta County, on the western edge of the Atlanta metropolitan area, according to a Freyr press release.
Production will be ramped up in phases, with a target of 34 gigawatt-hours from a $1.7 billion investment in the first phase, the company said, without confirming when the phase will begin. that section will be completed. The second phase will add more cell production lines and bring the total investment to $2.6 billion by 2029, the company said.
Recommended Freyr rendering
Freyr expects an incentive package from the State of Georgia and Coweta County and tax credits under the Inflation Reduction Act. The company said it is also filing with the US Department of Energy for a federal incentive package, likely to include “a grant and/or direct loans.”
The plant will use Boston-based company 24M’s SemiSolid manufacturing process, which is seen as improving efficiency in lithium-ion battery production. Technicians from 24M will collaborate with Freyr staff in Norway.
Freyr is bullish on the US energy storage market, which the company says is already the largest in the world. Citing estimates from consulting firm Rystad Energy, Freyr also predicts combined demand for both the United States and Europe will reach 1.4 terawatt-hours in 2030, an increase of about 34 times from 2022.
Recommended Freyr rendering
But while renewables have many companies, utilities and homes considering battery-based energy storage, the price of raw materials has driven up battery prices. Battery prices have been steadily declining over the past decade, but recently raw material price increase will report further reductions in affordability through 2024 at the earliest.
The battery plant is just the latest in a series of new manufacturing projects in Georgia.
by Rivian The giant plant in Georgia will begin production of the vehicle in 2024—with the smaller R2 to debut there after that. Up to 500,000 Hyundai and Kia The electric vehicle will be built at an upcoming “Metaplant” in the state when it reaches full capacity around 2025. And SK Innovation’s Georgia plants will produce batteries for the battery. up to 300,000 EVs annually—including the Ford F-150 Lightning.
