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January 21 (Renewables Now) - Norway’s Freyr Battery SA (NYSE:FREY) will supply 19 GWh of its battery cells to US conglomerate Honeywell International Inc (NASDAQ:HON) under a recently announced agreement.
The purchase and supply will run from 2023 through 2030, the companies said in a joint statement this week.
“The battery cells produced through this project can be utilized by ‘behind-the-meter’ or industrial locations, as well as ‘front-of-the-meter’ locations like large solar and wind renewable power generation sites,” the statement reads.
Freyr is to ship the order from its first gigafactory in Norway, but deliveries may include gigafactories in the US and other countries as demand ramps up, a spokesperson for the partnership said.
“This collaboration will pair FREYR’s next-generation battery solutions with Honeywell’s 20 years of lithium-ion battery industry know-how and established routes to markets and customers,” added Ujjwal Kumar, president and CEO at Honeywell Process Solutions.
The new arrangement is the third large deal for the Norwegian battery cells developer since going public last summer through a merger with a special-purpose acquisition company (SPAC). In December, Freyr locked a multi-year off-take agreement with an undisclosed party to deliver it 31 GWh of battery cells. Before that, Freyr formed a 50/50 joint venture with Koch Strategic Platforms to explore the development of a battery cell gigafactory in the US.