FREYR Battery (FREY) 10-K 9 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 08, 2022	Jun. 30, 2021
Document Information Line Items
Entity Registrant Name	FREYR Battery
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		116,853,504
Entity Public Float			$ 284,900,000
Amendment Flag	false
Entity Central Index Key	0001844224
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-40581
Entity Incorporation, State or Country Code	N4
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	412F, route d’Esch
Entity Address, Postal Zip Code	L-2086
Entity Address, City or Town	Luxembourg
Entity Address, Country	LU
City Area Code	+352
Local Phone Number	46 61 11 3721
Entity Interactive Data Current	Yes
Auditor Firm ID	1318
Auditor Name	PricewaterhouseCoopers AS
Auditor Location	Oslo, Norway
Ordinary Shares, without nominal value
Document Information Line Items
Trading Symbol	FREY
Title of 12(b) Security	Ordinary Shares, without nominal value
Security Exchange Name	NYSE
Warrants, each whole warrant exercisable for one Ordinary Share at an exercise price of $11.50
Document Information Line Items
Trading Symbol	FREY WS
Title of 12(b) Security	Warrants, each whole warrant exercisable for one Ordinary Share at an exercise price of $11.50
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 563,956	$ 14,749
Restricted cash	1,671	196
Prepaid assets	15,882	464
Other current assets	1,282	442
Total current assets	582,791	15,851
Property and equipment, net	21,062	80
Convertible note	20,000
Equity method investment	2,938
Other long-term assets	242
Total assets	627,033	15,931
Current liabilities
Accounts payable	3,813	888
Accrued liabilities	15,065	1,693
Accounts payable and accrued liabilities - related party	3,316	322
Redeemable preferred shares		7,574
Deferred income	1,380
Share-based compensation liability	2,211	460
Other current liabilities	12
Total current liabilities	25,797	10,937
Warrant liability	49,124
Long-term share-based compensation liability	6,627	38
Total liabilities	81,548	10,975
Commitments and contingencies (Note 7)
Shareholders’ equity
Ordinary share capital, no par value, 245,000,000 ordinary shares authorized and 116,853,504 ordinary shares issued and outstanding as of December 31, 2021 and 37,452,359 shares authorized, issued and outstanding as of December 31, 2020	116,854
Additional paid-in capital	533,418	15,183
Accumulated other comprehensive (loss) income	(524)	658
Accumulated deficit	(104,263)	(10,885)
Total shareholders’ equity	545,485	4,956
Total liabilities and shareholders’ equity	$ 627,033	$ 15,931

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Ordinary share capital, par value (in Dollars per share)
Ordinary share capital, shares authorized	245,000,000	37,452,359
Ordinary share capital, shares issued	116,853,504	37,452,359
Ordinary share capital, shares outstanding	116,853,504	37,452,359

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating expenses:
General and administrative	$ 61,635	$ 7,043
Research and development	13,816	1,865
Depreciation	120	15
Equity in losses from investee	62
Total operating expenses	75,633	8,923
Loss from operations	(75,633)	(8,923)
Other income (expense):
Warrant liability fair value adjustment	(21,859)	(1,670)
Redeemable preferred shares fair value adjustment	75	(70)
Convertible notes fair value adjustment		(201)
Gain on settlement of warrant liability		466
Interest income	317	20
Interest expense	(3)	(53)
Foreign currency transaction gain	1,325	38
Other income, net	2,400	788
Loss before income taxes	(93,378)	(9,605)
Income tax expense
Net loss	(93,378)	(9,605)
Other comprehensive income (loss):
Foreign currency translation adjustments	(1,182)	662
Total comprehensive loss	$ (94,560)	$ (8,943)
Basic and diluted weighted-average ordinary shares outstanding (in Shares)	75,362,870	28,312,125
Basic and diluted net loss attributable to ordinary shareholders (in Dollars per share)	$ (1.24)	$ (0.34)

Consolidated Statements of Shar

Consolidated Statements of Shareholders’ Equity (Deficit) - USD ($) $ in Thousands	Ordinary Shares	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit	Total
Balance beginning at Dec. 31, 2019		$ 335	$ (4)	$ (1,280)	$ (949)
Balance beginning (in Shares) at Dec. 31, 2019	21,250,776
Share-based compensation expense		535			535
Capital contributions from Rana municipality, net of issuance costs		996			996
Capital contributions from Rana municipality, net of issuance costs (in Shares)	1,193,529
Capital contributions from private placement, net of issuance costs		10,554			10,554
Capital contributions from private placement, net of issuance costs (in Shares)	12,827,098
Capital contributions from conversion of convertible debt to ordinary shares		1,704			1,704
Capital contributions from conversion of convertible debt to ordinary shares (in Shares)	1,785,504
Capital contributions from settlement of the warrant liability		1,059			1,059
Capital contributions from settlement of the warrant liability (in Shares)	395,452
Net loss				(9,605)	(9,605)
Other comprehensive income			662		662
Balance ending at Dec. 31, 2020		15,183	658	(10,885)	4,956
Balance ending (in Shares) at Dec. 31, 2020	37,452,359
Share-based compensation expense		14,055			14,055
Reclassification of share-based compensation expense from equity to liability		(8,984)			(8,984)
Norway Demerger		(2,897)			(2,897)
Issuance of ordinary shares in settlement of FREYR Legacy preferred shares		14,895			14,895
Issuance of ordinary shares in settlement of FREYR Legacy preferred shares (in Shares)	1,489,500
PIPE Investment, net of transaction costs		579,000			579,000
PIPE Investment, net of transaction costs (in Shares)	60,000,000
Business Combination, net of redemptions and transaction costs		39,020			39,020
Business Combination, net of redemptions and transaction costs (in Shares)	17,498,332
Luxembourg Reorganization	$ 116,441	(116,441)
Capital contribution from conversion of warrants to ordinary shares	$ 413	(413)
Capital contribution from conversion of warrants to ordinary shares (in Shares)	413,313
Net loss				(93,378)	(93,378)
Other comprehensive income			(1,182)		(1,182)
Balance ending at Dec. 31, 2021	$ 116,854	$ 533,418	$ (524)	$ (104,263)	$ 545,485
Balance ending (in Shares) at Dec. 31, 2021	116,853,504

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (93,378)	$ (9,605)
Adjustments to reconcile net loss to cash used in operating activities:
Share-based compensation expense	14,818	535
Depreciation	120	15
Redeemable preferred shares fair value adjustment	(75)	70
Warrant liability fair value adjustment	21,859	1,670
Convertible notes fair value adjustment		201
Gain on settlement of warrant liability		(466)
Equity in losses from investee	62
Other	(56)	(725)
Changes in assets and liabilities:
Prepaid assets	(15,598)	(408)
Other current assets	(821)	(231)
Other long-term assets	(230)
Accounts payable and accrued liabilities	8,716	1,347
Accounts payable and accrued liabilities - related party	4	226
Other current liabilities	12
Deferred income	1,431
Other long-term liabilities		35
Net cash used in operating activities	(63,136)	(7,336)
Cash flows from investing activities
Purchases of property and equipment	(13,775)	(71)
Investment in convertible note	(20,000)
Purchases of other long-term assets	(12)
Net cash used in investing activities	(33,787)	(71)
Cash flows from financing activities
Proceeds from Business Combination	70,836
Proceeds from PIPE Investment	600,000
Capital contributions - ordinary shares		12,351
Issuance cost	(26,334)	(799)
Proceeds from issuance of redeemable preferred shares	7,500	7,500
Payments for the Norway Demerger	(3,002)
Proceeds from issuance of convertible debt		1,104
Proceeds from issuance of convertible debt - related party		427
Payments related to convertible debt		(125)
Net cash provided by financing activities	649,000	20,458
Effect of changes in foreign exchange rates on cash, cash equivalents, and restricted cash	(1,395)	1,637
Net increase in cash, cash equivalents, and restricted cash	550,682	14,688
Cash, cash equivalents, and restricted cash at beginning of period	14,945	257
Cash, cash equivalents, and restricted cash at end of period	565,627	14,945
Supplementary disclosures of cash flow information
Cash paid for interest	3	14
Cash paid for income taxes
Supplementary disclosures for noncash activities
Warrant liability assumed from business combination	27,265
Settlement of redeemable preferred shares through issuance of ordinary shares	14,895
Reclassification of share-based compensation expense from equity to liability	8,984
Accrued purchases of property and equipment	7,559
Investment in equity method investment through assumption of liability	3,000
Settlement of accrued liabilities through issuance of non-employee warrants	460
Settlement of other long-term liabilities through issuance of employee options	38
Net liabilities assumed from Business Combination	149
Reconciliation to consolidated balance sheets
Cash and cash equivalents	563,956	14,749
Restricted cash	1,671	196
Cash, cash equivalents, and restricted cash	$ 565,627	$ 14,945

Business and Basis of Presentat

Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Business and Basis of Presentation	1. Business and Basis of Presentation Description of the Business FREYR is a battery manufacturing company. We are in the initial design and testing phase related to our battery production and have yet to bring a completed product to market. Business Combination Pursuant to the Business Combination Agreement (the “BCA”) entered into to effect a merger between Alussa Energy Acquisition Corp., a Cayman Islands exempted company (“Alussa”) and FREYR AS, a private limited liability company organized under the laws of Norway (“FREYR Legacy”) (the “Business Combination”), FREYR, a Luxembourg public limited liability company was formed to complete the Business Combination and related transactions and carry on the business of FREYR Legacy. FREYR serves as the successor entity to FREYR Legacy, the predecessor entity. On July 9, 2021, FREYR consummated the Business Combination with FREYR Legacy and Alussa pursuant to the terms of the BCA dated January 29, 2021. Pursuant to the terms of the BCA, among other things, FREYR Legacy’s wind farm business was transferred to Sjonfjellet Vindpark Holding AS (“SVPH”), resulting in SVPH shares being held by FREYR Legacy’s shareholders. In connection with the consummation of the transactions contemplated by the BCA, FREYR Legacy and Alussa became wholly owned subsidiaries of FREYR. Following the First Closing on July 7, 2021, FREYR’s ordinary shares and warrants began trading on the New York Stock Exchange. The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, Alussa was treated as the “acquired” company for financial reporting purposes. This determination was primarily based on the following factors: (i) FREYR Legacy’s existing operations comprise the ongoing operations of the combined company, (ii) FREYR Legacy’s senior management comprises the senior management of the combined company and (iii) no shareholder has control of the board of directors or a majority voting interest in the combined company. In accordance with guidance applicable to these circumstances, the Business Combination was treated as the equivalent of FREYR issuing shares for the net assets of Alussa, accompanied by a recapitalization. The net assets of Alussa were stated at historical cost, with no goodwill or other intangible assets recorded. As a result, the consolidated financial statements included herein reflect (i) the historical operating results of FREYR Legacy prior to the Business Combination, (ii) the combined results of FREYR, FREYR Legacy and Alussa following the closing of the Business Combination, (iii) the assets and liabilities of FREYR Legacy at their historical cost, (iv) the assets and liabilities of FREYR and Alussa at their historical cost, which approximates fair value, and (v) FREYR’s equity structure for all periods presented. In accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations, Basis of Presentation The consolidated financial statements have been prepared in conformity with the accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of FREYR and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated. Certain prior period balances and amounts have been reclassified to conform with the current year’s presentation in the consolidated financial statements and the accompanying notes. Risks and Uncertainties We are subject to those risks common in the renewable energy and manufacturing industries and also those risks common to early stage development companies, including, but not limited to, the possibility of not being able to successfully develop or market our products, the ability to obtain or maintain licenses and permits to support future business, competition, dependence on key personnel and key external alliances, loss of our grant contributor, the ability to maintain and establish relationships with current and future vendors and suppliers, the successful protection of our proprietary technologies, the possibility of the factory development being disrupted, compliance with government regulations, and the possibility of not being able to obtain additional financing when needed. These financial statements have been prepared by management in accordance with U.S. GAAP and this basis assumes that we will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As of the date of this report, our existing cash resources, which were provided as a result of the business combination, are sufficient to support planned operations for the next 12 months. As a result, management believes that our existing financial resources are sufficient to continue operating activities for at least one year past the issuance date of the financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of Estimates The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. On an ongoing basis, we evaluate our estimates, including those critical accounting estimates related to the valuation of share-based compensation, our valuation of warrant liability and our valuation of the convertible note. We base these estimates on historical experiences and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from these estimates. Cash and Cash Equivalents Cash and cash equivalents consist of cash on deposit with banks and highly liquid investments with maturities of 90 days or less from the date of purchase. Restricted Cash Restricted cash consists of funds held in a restricted account for payment of upfront rental lease deposits and income tax withholdings to the Norwegian government, payable every other month. Fair Value Measurement and Fair Value Option We define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 Level 2 Level 3 Under the fair value option under US GAAP, the Company has the irrevocable option to report most financial assets and financial liabilities at fair value on an instrument-by-instrument basis, with changes in fair value reported in earnings. Any changes in the fair value of liabilities resulting from changes in the instrument-specific credit risk would be reported in other comprehensive income. Property and Equipment Property and equipment is recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the related asset or the remaining lease term, whichever is shorter. Property and Equipment Computer software and office equipment Three to five years Leasehold improvements Lesser of estimated useful life or remaining lease term The useful lives of our property and equipment are determined by management when those assets are initially recognized and are routinely reviewed for the remaining estimated useful lives. Our current estimate of useful lives represents the best estimate of the useful lives based on current facts and circumstances but may differ from the actual useful lives due to changes in future circumstances such as changes to our business operations, changes in the planned use of assets, and technological advancements. When we change the estimated useful life assumption for any asset, the remaining carrying amount of the asset is accounted for prospectively and depreciated or amortized over the revised estimated useful life. Historically, changes in useful lives have not resulted in material changes to our depreciation and amortization expense. Maintenance and repairs are charged to expense as incurred and improvements are capitalized. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the accompanying consolidated statements of operations and comprehensive loss. Assets held within construction in progress are not depreciated. Construction in progress is related to the construction or development of property and equipment that have not yet been placed in service. Leases We account for leases under ASC 840, Leases. Under this guidance, lessees classify arrangements meeting the definition of a lease as either operating or capital leases. Leases are classified as capital leases whenever the terms of the lease transfer substantially all of the risks and rewards of ownership to the lessee. All other leases are recorded as operating leases. As of December 31, 2021, all of our leases were operating leases. We recognize rent expense on a straight-line basis over the lease term. Grants For the grants related to the CQP, we reduce the carrying amount of the CQP as the grants are received and the conditions for receiving the grants have been fulfilled. We recognize other grants received as other income over the periods in which the related costs are incurred and the conditions for receiving the grants have been fulfilled. Research and Development Cost Research and development costs that do not meet the criteria for capitalization are expensed as incurred. Research and development costs consist of compensation, employee benefits, and share-based compensation for employees engaged in research and development activities, as well as fees paid for external engineering, supplies and services, allocation of indirect costs and contributions to research institutions. Foreign Currency Translation and Transaction Gains and Losses Our functional currency is U.S. dollars. Generally, the functional currency of our subsidiaries is the local currency. We translate the financial statements of these subsidiaries to U.S. dollars using period-end exchange rates for assets and liabilities. Revenues and expenses are translated into U.S. dollars using the average exchange rates prevailing for each period presented Share-Based Compensation Our share-based compensation includes stock options, warrants and awards that may be settled in our shares. We measure and record compensation expense for all equity-classified awards based on estimated fair values of the underlying stock at the grant date. We initially measure and record liability-classified awards based on estimated fair values of the underlying stock at the grant date and subsequently remeasure to fair value at each reporting date until settlement. We recognize compensation expense for all employee awards with service-based vesting requirements on a straight-line basis over the requisite service period of the awards, which is generally the award’s vesting period. We recognize compensation expense for all employee awards with performance-based vesting requirements using accelerated attribution based on the performance factor probable of achievement as of the reporting date. We account for all forfeitures as they occur. Warrant liability We account for Private Warrants as derivative liabilities on the consolidated balance sheets. We measured the fair value at the close of the Business Combination and each reporting date, with changes in fair value recognized in the consolidated statements of operations and comprehensive loss in the period of change. Investments under the equity method We utilize the equity method to account for investments, including joint ventures, when we possess the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. In applying the equity method, we record the investment at cost and subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee. Defined Contribution Plan We have defined contribution plans in accordance with Norwegian law for employees residing in Norway, as well as abroad. We made contributions to our defined contribution plans of $0.6 million and $0.1 million in the years ended December 31, 2021 and 2020. Income Taxes Deferred income tax assets and liabilities are computed on differences between the financial statement bases and tax bases of assets and liabilities at the enacted tax rates. Changes in deferred income tax assets and liabilities associated with components of other comprehensive income are charged or credited directly to other comprehensive income. Otherwise, changes in deferred income tax assets and liabilities are included as a component of income tax expense. The effect on deferred income tax assets and liabilities attributable to changes in enacted tax rates are charged or credited to income tax expense in the period of enactment. Valuation allowances are established for certain deferred tax assets when realization is not likely. Changes in the valuation allowances occurring in subsequent periods are included in the consolidated statements of operations and comprehensive loss. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions, in our judgment, do not meet a more-likely-than-not threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax positions are included as a component of income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2021 or 2020. Segment Information Our focus is the development of batteries as our primary business and our Chief Executive Officer (“CEO”), who is the chief operating decision-maker, manages our operations as a single operating segment for purposes of allocating resources and evaluating financial performance. Concentrations of Credit Risk Financial instruments that are potentially subjected to credit risk consist of cash and cash equivalents and the convertible note. Cash and cash equivalents are placed with major financial institutions. We have not experienced any credit loss related to our cash and cash equivalents or the convertible note. Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt-out of the extended transition period and comply with the requirements that apply to non-emerging growth companies, but any such election to opt-out is irrevocable. We qualify as an emerging growth company, as defined in the JOBS Act, and therefore intend to take advantage of certain exemptions from various public company reporting requirements, including delaying the adoption of new or revised accounting standards until those standards apply to private companies. The effective dates shown below reflect the election to use the extended transition period. Recently Issued Accounting Pronouncement In December 2019, the FASB issued ASU 2019-12, Income Taxes (ASC 740): Simplifying the Accounting for Income Taxes In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (ASC 842) (ASU 2016-02), as amended, which generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. We will adopt the new standard effective January 1, 2022, on a modified retrospective basis and will not restate comparative periods. We will elect the package of practical expedients permitted under the transition guidance, which allows us to carry forward our historical lease classification, our assessment on whether a contract is or contains a lease, and our initial direct costs for any leases that exist before the adoption of the new standard. We will also elect to combine lease and non-lease components and to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in the consolidated statements of income on a straight-line basis over the lease term. We currently lease our corporate headquarters, CQP, as well as other properties. Upon adoption of ASC 842 management expects that based on our current portfolio of leases, assets and liabilities on the consolidated balance sheet will increase by between $8 million and $10 million due to the recognition of right-of-use assets and corresponding lease liabilities. The adoption of the standard is not expected to significantly impact accumulated deficit. Adoption of Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

Business Combination

Business Combination	12 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
Business Combination	3. Business Combination As discussed in Note 1 – Business and Basis of Presentation, we completed the Business Combination on July 9, 2021. Immediately before the closing of the Business Combination, all outstanding redeemable preferred shares of FREYR Legacy were converted into ordinary shares of FREYR. Upon the consummation of the Business Combination, each share of FREYR Legacy issued and outstanding was canceled and converted into the right to receive 0.179038 ordinary shares in FREYR (the “Exchange Ratio”). Upon the closing of the Business Combination, our articles of association were amended and restated to, among other things, increase the total number of authorized shares to 245,000,000 shares without par value. In connection with the Business Combination, on January 29, 2021, Alussa and FREYR entered into separate subscription agreements with a number of investors (each a “Subscriber”), pursuant to which the Subscribers agreed to purchase, and FREYR agreed to sell to the Subscribers, an aggregate of 60,000,000 ordinary shares (the “PIPE Shares”), for a purchase price of $10.00 per share and an aggregate purchase price of $600.0 million, in a private placement pursuant to the subscription agreements (the “PIPE Investment”). The PIPE Investment closed simultaneously with the consummation of the Business Combination. The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, Alussa was treated as the “acquired” company for financial reporting purposes. See Note 1 – Business and Basis of Presentation for further details. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of FREYR issuing shares for the net assets of Alussa, accompanied by a recapitalization. The net assets of Alussa were stated at historical cost, with no goodwill or other intangible assets recorded. The following table reconciles the elements of the Business Combination and PIPE Investment to the consolidated statement of cash flows and the consolidated statement of shareholders’ equity for the year ended December 31, 2021 (in thousands): Recapitalization Cash - Alussa trust and cash, net of redemptions $ 104,535 Cash - PIPE Investment 600,000 Less: Non-cash net liabilities assumed from Alussa (26,129 ) Less: Transaction costs (60,386 ) Net Business Combination and PIPE Investment 618,020 Add back: Non-cash net liabilities assumed from Alussa 26,129 Add: Accrued transaction costs 353 Net cash contribution from Business Combination and PIPE $ 644,502 The number of ordinary shares issued immediately following the consummation of the Business Combination: Number of Shares Alussa Class A ordinary shares, outstanding prior to Business Combination 28,750,000 Less: redemption of Alussa Class A ordinary shares (18,439,168 ) Alussa Class A ordinary shares 10,310,832 Alussa Class B founder ordinary shares 7,187,500 Ordinary shares issued in PIPE Investment 60,000,000 Ordinary shares issued to FREYR Legacy preferred shareholders 1,489,500 Business Combination and PIPE Investment ordinary shares 78,987,832 FREYR Legacy ordinary shares (1) 37,452,359 Total ordinary shares immediately after Business Combination and PIPE Investment 116,440,191 (1) The number of FREYR Legacy ordinary shares was determined from the 209,196,827 of FREYR Legacy ordinary shares outstanding prior to the closing of the Business Combination converted at the exchange ratio of 0.179038. All fractional shares were rounded down.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consisted of the following (in thousands): As of December 31, 2021 2020 Office equipment $ 1,180 $ 98 Less: Accumulated depreciation and amortization (135 ) (15 ) Construction in progress 20,017 - Less: Foreign currency translation effects - (3 ) Property and equipment, net $ 21,062 $ 80 Construction in progress primarily includes costs related to the construction of the CQP in Mo i Rana and the related production equipment.

Accrued liabilities

Accrued liabilities	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued Liabilities	5. Accrued Liabilities Accrued liabilities consisted of the following (in thousands): As of December 31, 2021 2020 Accrued purchases $ 8,165 $ 690 Accrued payroll and payroll related expenses 6,476 518 Accrued other operating costs 424 485 Total accrued liabilities $ 15,065 $ 1,693

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	6 Leases We currently lease our corporate headquarters, CQP, as well as other properties, that are classified as operating leases. Total rent expense was $1.0 million and $0.1 million for the years ended December 31, 2021 and 2020, respectively. We do not have any contingent rent expense or capital leases. Substantially all of the Company’s leases have renewal options. Minimum rentals payable under all non-cancelable operating leases with terms greater than one year as of December 31, 2021, are as follows (in thousands): Year ending December 31: 2022 $ 1,714 2023 1,696 2024 1,692 2025 1,748 2026 1,748 Later years 3,832 Total minimum payments required $ 12,430

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Commitments On December 1, 2020, we entered into a definitive licensing and services agreement effective December 15, 2020, with 24M to use its SemiSolid TM Contingent Liabilities - Litigation From time to time, we may be subject to legal and regulatory actions that arise in the ordinary course of business. The assessment as to whether a loss is probable or reasonably possible, and as to whether such loss or a range of such loss is estimable, often involves significant judgment about future events. Management believes that any liability of ours that may arise out of or with respect to these matters will not materially, adversely affect our consolidated financial position, results of operations, or liquidity.

Warrants

Warrants	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Warrants	8. Warrants As of December 31, 2021, we have 24,625,000 warrants outstanding. As part of the Business Combination, as described in Note 3 – Business Combination, the 14,375,000 public warrants of Alussa were each exchanged for one public warrant in FREYR (the “Public Warrants”) and the 10,250,000 private warrants of Alussa were each exchanged for one private warrant in FREYR (the “Private Warrants”). The Public and Private Warrants (collectively, “Warrants”) are subject to the terms and conditions of the warrant agreement entered into between Alussa, Continental Stock Transfer & Trust Company and FREYR (the “Amended and Restated Warrant Agreement”). The Warrants entitle the holder thereof to purchase one of our ordinary shares at a price of $11.50 per share, subject to adjustments. The Warrants will expire on July 9, 2026, or earlier upon redemption or liquidation. The Private Warrants are identical to the Public Warrants, except that so long as they are held by the Sponsor or any of its permitted transferees, the Private Warrants: (i) may be exercised for cash or on a cashless basis and (ii) shall not be redeemable by FREYR. We may call the Public Warrants for redemption once they become exercisable, in whole and not in part, at a price of $0.01 per Public Warrant, so long as we provide at least 30 days prior written notice of redemption to each Public Warrant holder, and if, and only if, the reported last sales price of our ordinary shares equals or exceeds $18.00 per share for each of 20 trading days within the 30 trading-day period ending on the third trading day before the date on which we send the notice of redemption to the Public Warrant holders. We determined that the Public Warrants are equity classified as they are indexed to our ordinary shares and qualify for classification within shareholders’ equity. As such, the Public Warrants are presented within additional paid-in capital on the consolidated balance sheets herein. However, we determined that the Private Warrants are not considered indexed to our ordinary shares as the holder of the Private Warrants impacts the settlement amount and thus, they are liability classified. The Private Warrants are presented within warrant liability on the consolidated balance sheets herein. See Note 9 – Fair Value Measurement for further details.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement	9. Fair Value Measurement The following table sets forth, by level within the fair value hierarchy, the accounting of our financial assets and liabilities at fair value on a recurring basis according to the valuation techniques we use to determine their fair value (in thousands): As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets Convertible Note $ - $ - $ 20,231 $ 20,231 Total $ - $ - $ 20,231 $ 20,231 Liabilities Warrant Liabilities $ - $ - $ 49,124 $ 49,124 Total $ - $ - $ 49,124 $ 49,124 As of December 31, 2020 Level 1 Level 2 Level 3 Total Liabilities Redeemable Preferred Shares $ - $ - $ 7,574 $ 7,574 Total $ - $ - $ 7,574 $ 7,574 In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. For the nine convertible notes issued in 2020 (“2020 Convertible Notes”), we elected the fair value option. Such election was irrevocable and applied on an instrument-by-instrument basis at initial recognition. Any changes in the fair value of these securities were recognized in the consolidated statements of operations and comprehensive loss. Interest expense on the 2020 Convertible Notes for which the fair value option was elected was based on stated interest rates and was recorded as interest expense within the consolidated statements of operations and comprehensive loss. We measured our Private Warrants and convertible note as of December 31, 2021 and our preferred shares as of December 31, 2020 at fair value based on significant inputs not observable in the market, which caused them to be classified as Level 3 measurements within the fair value hierarchy. The valuation of the Private Warrants, convertible note and preferred shares used assumptions and estimates that we believed would be made by a market participant in making the same valuation. Changes in the fair value of the preferred shares related to updated assumptions and estimates were recognized as a redeemable preferred shares fair value adjustment within the consolidated statements of operations and comprehensive loss. Changes in the fair value of the Private Warrants related to updated assumptions and estimates were recognized as a warrant liability fair value adjustment within the consolidated statements of operations and comprehensive loss. Changes in the fair value of the convertible note related to updated assumptions and estimates were recognized as a convertible note fair value adjustment, and interest earned recognized as interest income within the consolidated statement of operations and comprehensive loss. As of December 31, 2021 and 2020, the carrying value of all other financial assets and liabilities approximated their respective fair values. Private Warrants The Private Warrants outstanding on December 31, 2021, were valued using the Black-Scholes-Merton option pricing model. No Private Warrants were outstanding on December 31, 2020. See Note 8 – Warrants above for further detail. Our use of the Black-Scholes-Merton option pricing model for the Private Warrants as of December 31, 2021, required the use of subjective assumptions: ● The risk-free interest rate assumption was based on the U.S. Treasury Rates, which were commensurate with the contractual terms of the Private Warrants, which expire on the earlier of (i) five years after the completion of the Business Combination or July 9, 2026 and (ii) redemption or liquidation. An increase in the risk-free interest rate, in isolation, would increase the fair value measurement of the Private Warrants and vice versa. ● The expected term was determined to be 4.53 years as of December 31, 2021, given the expiration of the Private Warrants as noted above. An increase in the expected term, in isolation, would increase the fair value measurement of the Private Warrants and vice versa. ● The expected volatility assumption was based on the implied volatility from a set of comparable publicly traded companies as determined based on the size and industry. An increase in expected volatility, in isolation, would increase the fair value measurement of the Private Warrants and vice versa. Using this approach, an exercise price of $11.50 and a share price of $11.18, we determined that the fair value of the Private Warrants was $49.1 million as of December 31, 2021. Convertible Note As of December 31, 2021, we had an investment in a convertible note from 24M that was fair valued pursuant to the election of the fair value option under ASC 825, Financial Instruments. See Note 15 – Convertible Note for further detail. The Company considers this to provide a more accurate reflection of the current economic environment of the instrument. This convertible note was valued using a scenario-based framework. This analysis assumed various scenarios that were weighted based on the likelihood of occurrence. Within each scenario, an income approach, specifically the discounted cash flow approach, was utilized based on the expected payoffs upon the event, the discount rate and the expected timing and then the expected probability of occurrence was applied, all of which management determined were significant assumptions. Using this approach, we determined that the fair value of the convertible note as of December 31, 2021 was $20.2 million. We noted that a change in the expected payoffs, discount rate, timing, or expected probability would result in a change to the fair value ascribed to the convertible note. No convertible note was outstanding on December 31, 2020. For the year ended December 31, 2021, the total change in fair value of the convertible note, including interest income, of $0.2 million was recognized as interest income within the consolidated statement of operations and comprehensive loss and within other long-term assets on the consolidated balance sheet. Preferred Shares The preferred shares outstanding on December 31, 2020, were valued using a scenario-based framework. No preferred shares were outstanding on December 31, 2021, as they were settled as part of the Business Combination. See Note 1 – Business and Basis of Presentation and Note 3 – Business Combination for further detail. Within each scenario, an income approach, specifically the discounted cash flow approach, was utilized based on the expected payoffs upon the conversion or redemption event, the estimated yield and the expected probability of occurrence, which we determined was a significant assumption. Using this approach, FREYR Legacy determined that the fair value of the redeemable preferred shares was $7.6 million as of December 31, 2020. FREYR Legacy noted that a change in the weighting of the expected forms of settlement would result in a change of the fair value to the redeemable preferred shares. See Note 10 – Redeemable Preferred Shares for further discussion. 2020 Convertible Notes In 2020, FREYR Legacy issued the 2020 Convertible Notes, of which seven were issued to third-party investors and two were issued to related parties. FREYR Legacy elected to apply the fair value option to the 2020 Convertible Notes at the time they were first recognized. On July 2, 2020 and July 8, 2020, the 2020 Convertible Notes were settled. Before settlement, the 2020 Convertible Notes were valued using a scenario-based framework. This analysis assumed two scenarios that were weighted based on the likelihood of occurrence, one in which a qualified financing event occurred and the other in which no qualified financing event occurred and the 2020 Convertible Notes were redeemed at maturity. Warrant Liability (Settled in 2020) On June 10, 2019, FREYR Legacy entered into an agreement with a third-party investor (the “Investment Agreement”) to issue warrants in exchange for the investor funding cash investments in tranches to support FREYR Legacy’s two battery projects for the period from the effective date of the agreement through September 30, 2021. The warrant liability was initially valued using a scenario-based framework that assumed varying levels of tranches of investments and the related equity valuation, which caused it to be classified as a Level 3 measurement within the fair value hierarchy. As of June 30, 2020, FREYR Legacy measured its warrant liability using the indicated transaction price for the private placement that was finalized shortly after the period end. This change in the valuation methodology was a result of the availability of inputs corroborated by an observable market transaction, which caused it to be classified as a Level 2 measurement within the fair value hierarchy. As of September 30, 2020, and through settlement on November 23, 2020, FREYR Legacy measured the fair value of the warrant liability based on inputs corroborated by observable market transactions using the over-the-counter (“OTC”) trading price. The warrant liability was settled on November 23, 2020. The following table presents changes in the Level 3 instruments measured at fair value for the years ended December 31, 2021 and 2020, respectively (in thousands): For the year ended December 31, 2021 Private Warrants Redeemable preferred shares 2020 Convertible Notes Warrant liability Convertible Balance (beginning of period) $ - $ 7,574 $ - $ - $ - Additions 27,265 7,500 - - 20,000 Fair value measurement adjustments 21,859 (74 ) - - 231 Foreign current exchange effects - - - - - Settlements - (15,000 ) - - - Balance (end of period) $ 49,124 $ - $ - $ - $ 20,231 For the year ended December 31, 2020 Private Warrants Redeemable preferred shares 2020 Convertible Notes Warrant liability Convertible Balance (beginning of period) $ - $ - $ - $ 93 $ - Additions - 7,500 1,531 76 - Accrued interest - - 33 - - Fair value measurement adjustments - 70 201 233 - Foreign current exchange effects - 4 - (6 ) - Transfer to Level 2 - - - (396 ) - Settlements - - (1,765 ) - - Balance (end of period) $ - $ 7,574 $ - $ - $ -

Redeemable Preferred Shares

Redeemable Preferred Shares	12 Months Ended
	Dec. 31, 2021
Redeemable Preferred Shares [Abstract]
Redeemable Preferred Shares	10. Redeemable Preferred Shares On November 11, 2020, 7,500,000 redeemable preferred shares were issued, each with a nominal value of NOK 0.01 per share for an aggregate subscription amount of NOK 71.5 million ($7.5 million) to two affiliates of Alussa in exchange for a cash contribution of $7.5 million (the “Preferred Share Preference Amount”). Concurrently, FREYR Legacy issued 92,500,000 warrants that were subscribed together with the preferred shares and considered an embedded feature as they were not separately exercisable. FREYR Legacy determined that the preferred shares and warrants should be considered a single financial instrument and recognized as a liability within the consolidated balance sheets. As such, the liability was measured at fair value and was subsequently remeasured at each reporting date with changes being recorded as a redeemable preferred shares fair value adjustment within the consolidated statements of operations and comprehensive loss. As of December 31, 2020, the fair value of the preferred shares and warrants was $7.6 million. See Note 9 – Fair Value Measurement for further information on the preferred shares and warrants. On February 16, 2021, an additional 7,500,000 redeemable preferred shares were issued, each with a nominal value of NOK 0.01 per share for an aggregate subscription amount of NOK 64.1 million ($7.5 million) to three affiliates of Alussa in exchange for a Preferred Share Preference Amount of $7.5 million. As part of the Business Combination and after the Norway Demerger, the FREYR Legacy preferred shares were repurchased by FREYR at an adjusted Preferred Share Preference Amount of $14.9 million and the holders received 1,489,500 ordinary shares of FREYR. No preferred shares exist as of December 31, 2021.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Shareholders' Equity	11. Shareholders’ Equity Ordinary Shares As of December 31, 2021, 245,000,000 ordinary shares without par value are authorized. Holders of ordinary shares are entitled to receive dividends when, as, and if, declared by our Board of Directors. As of December 31, 2021, we have not declared any dividends. The holder of each ordinary share is entitled to one vote per share. As of December 31, 2021, there are 116,853,504 ordinary shares outstanding. Employee Awards – 2019 Plan FREYR Legacy had an Incentive Stock Option Plan (the “2019 Plan”) issued on September 11, 2019. According to the 2019 Plan, options or warrants could be granted to eligible employees, and a total of 895,190 ordinary shares could be issued. On December 1, 2020, the board of directors approved to increase the number of ordinary shares to be issued under the 2019 Plan by 895,190 ordinary shares. In general, the options or warrants were determined to be granted every quarter over two years and could be exercised at the earliest three years and at the latest five years after the date of the first legal grant date. The options granted to three of FREYR Legacy’s executives were determined to vest based on service-based conditions for a portion of the awards and upon service-based conditions and the achievement of a liquidity-event-driven performance condition for the remainder of the awards. In the event of a change of control, defined as a corporate transaction involving 50% or more of the combined voting power of the equity interests in FREYR Legacy, the stock options and warrants and performance stock options and warrants already granted or earmarked for an employee’s first year of employment would vest immediately. On January 29, 2021, FREYR Legacy entered into the BCA, which was simultaneously approved by the board of directors. See Note 1 – Business and Basis of Presentation and Note 3 – Business Combination for further information on the BCA and related Business Combination. Pursuant to the BCA, the exercise prices for certain employee awards that were not previously known were established. As such, a grant date for accounting purposes was achieved for these employee awards as there was a mutual understanding of the terms and conditions. In addition to establishing a mutual understanding of the key terms and conditions for certain employee awards, the BCA also established a performance condition that would adjust the exercise price of certain options and warrants upon the close of the Business Combination. As a result of the consummation of the Business Combination on July 9, 2021, the performance condition was met. As such, the employee awards vested immediately on July 9, 2021, and share-based compensation was recognized for the remaining unrecognized fair value of the employee awards. Effective as of the close of the Business Combination, the 2019 Plan was modified to require cash-settlement after a lock-up period of either (i) one year for all non-executive employees or (ii) two years for all executive employees. As a result, $8.9 million of share-based compensation expense previously recognized in additional paid-in capital was reclassified to liabilities in the consolidated balance sheets at December 31, 2021. Share-based compensation expense, inclusive of the changes to the fair value of the share-based compensation liability, is recognized separately in general and administrative expense and research and development expense within the consolidated statements of operations and comprehensive loss. The following table sets forth the activity relating to the employee options and warrants outstanding under the 2019 Plan for the year ended December 31, 2021 (aggregate intrinsic value in thousands): For the Year Ended December 31, 2021 Number Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value Awards outstanding at beginning of period 179,037 $ 0.99 Awards granted 832,427 $ 3.20 Awards forfeited 3,580 $ 2.79 Awards outstanding at end of period 1,007,884 $ 2.81 3.70 $ 8,434 Awards exercisable at end of period 1,007,884 $ 2.81 3.70 $ 8,434 Assumptions used to determine the fair value of employee awards under the 2019 Plan using the Black-Scholes-Merton option pricing model are as follows: For the Year Ended December 31, 2021 Range of Assumptions Valuation assumptions: Expected term (years) 3.25 - 4.87 Expected volatility 45.50 % - 56.90 % Expected dividend yield 0.00 % - 0.00 % Risk-free interest rate -0.66 % - 0.81 % The expected option and warrant terms were calculated using the remaining contractual term as the employee awards were deeply in-the-money as of the valuation date. The expected volatilities were derived from the average historical daily stock volatilities of a peer group of public companies that we consider to be comparable to our business over a period equivalent to the expected terms of the share-based awards. The expected dividend yield was based on our expectation of not paying dividends in the foreseeable future. Consequently, the expected dividend yield used is zero. The risk-free interest rates were based on the US Treasury Rates. Compensation expense recorded for the employee awards in general and administrative for the year ended December 31, 2021 was $7.1 million. Compensation expense recorded for the employee awards in research and development for the year ended December 31, 2021 was $1.7 million. For the year ended December 31, 2020, compensation expense recorded for the employee awards in general and administrative was less than $0.1 million. As of December 31, 2021, all employee awards had vested. Employee Awards – 2021 Plan We have a Long-Term Incentive Plan (the “2021 LTIP”) that was issued on July 9, 2021. According to the 2021 LTIP, at the discretion of our board of directors, but at least on an annual basis, stock options may be granted to eligible employees. The aggregate number of additional shares authorized under the 2021 LTIP plan will not exceed 10% of the current number of shares in issue over the next five years, excluding any options or warrants granted before the 2021 LTIP plan. All options granted were determined to vest annually in equal thirds and can be exercised up to five years after the grant date. There are no performance requirements for vesting except that the share price must exceed the exercise price and the individual must remain employed. The following table sets forth the activity relating to the employee options outstanding under the 2021 LTIP for the year ended December 31, 2021 (aggregate intrinsic value in thousands): For the Year Ended December 31, 2021 Number Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value Awards outstanding at beginning of period - $ - Awards granted 2,105,527 $ 10.05 Awards forfeited 3,555 $ 10.00 Awards outstanding at end of period 2,101,972 $ 10.05 4.74 $ 2,376 Awards exercisable at end of period - $ - - $ - Assumptions used to determine the fair value of employee options under the 2021 LTIP using the Black-Scholes-Merton option pricing model are as follows: For the Year Ended December 31, 2021 Range of Assumptions Grant date fair value per option $ 3.57 $ 5.21 Valuation assumptions: Expected term (years) 3.29 3.50 Expected volatility 56.40 % 57.41 % Expected dividend yield 0.00 % 0.00 % Risk-free interest rate 0.95 % 0.98 % The Company used the simplified method when calculating the expected term due to insufficient historical exercise data. The expected volatilities were derived from the average historical daily stock volatilities of a peer group of public companies that we consider to be comparable to our business over a period equivalent to the expected terms of the share-based awards. The expected dividend yield was based on our Company’s expectation of not paying dividends in the foreseeable future. Consequently, the expected dividend yield used is zero. The risk-free interest rates were based on the US Treasury Rates. After our Business Combination, option awards were granted out of the money, and we determined a lattice model was required for pricing the awards granted. Assumptions used to determine the fair value of employee options under the 2021 LTIP using a lattice option pricing model are as follows: For the Year Ended December 31, 2021 Range of Assumptions Grant date fair value per option $ 3.26 - $ 3.41 Valuation assumptions: Expected volatility 49.70 % - 50.80 % Expected dividend yield 0.00 % - 0.00 % Risk-free interest rate 0.78 % - 0.82 % As the awards were issued out of the money, an assumption was made that the The weighted-average grant-date fair value of the options granted during the years ended December 31, 2021 and 2020 was $3.62 and nil CEO Option Awards On June 16, 2021, our Chief Executive Officer (“CEO”) entered into a stock option agreement, as an appendix to an employment agreement, effective upon the consummation of the Business Combination. Under the stock option agreement, our CEO was awarded 850,000 options to acquire our shares at an exercise price of $10.00 (the “CEO Option Awards”). The CEO Option Awards are subject to the board of directors’ assessment of the CEO’s performance pursuant to nine KPIs, which will occur during Q1 2022 and Q1 2023. The performance of each KPI will award the CEO with 1/9 of the maximum options. For each KPI, options that are confirmed in Q1 2022 will vest in equal thirds on December 31, 2022, September 30, 2023 and June 1, 2024. Options that are confirmed in Q1 2023 will vest in equal halves on September 30, 2023 and June 1, 2024. Failure to perform a KPI will reduce the maximum conditionally awarded options pro-rata and preclude the KPI from subsequently being earned by the CEO. The CEO Option Awards were determined to be granted on July 13, 2021 and compensation cost will be recognized if we conclude that it is probable that the performance condition will be achieved. As of December 31, 2021, no compensation expense has been recognized. Nonemployee Awards – Related Party On March 1, 2019, FREYR Legacy entered into a consulting agreement with EDGE Global LLC (“EDGE”) for FREYR Legacy’s CEO and Chief Commercial Officer to be hired to perform certain services related to leadership, technology selection and operational services (the “2019 EDGE Agreement”). Per the 2019 EDGE Agreement, FREYR Legacy agreed to issue 1,488,862 warrants to EDGE equaling 6.5% of the total outstanding shares of FREYR Legacy as of the effective date of the 2019 EDGE Agreement. On July 8, 2020, FREYR Legacy resolved to issue 1,488,862 warrants to EDGE under the 2019 EDGE Agreement upon the consummation of a New Capital Raise as defined in the 2019 EDGE Agreement. The warrants may be exercised at the latest of May 15, 2024. Each warrant shall give the right to subscribe for one new ordinary share of FREYR Legacy with a subscription price of $0.95 per share. On September 1, 2020, FREYR Legacy amended the 2019 EDGE Agreement, effective as of July 1, 2020 (the “2020 EDGE Agreement”). This amendment extended the term of the 2019 EDGE Agreement to December 31, 2021, and also set forth the new terms and conditions governing EDGE’s engagement with FREYR Legacy. Under the 2020 EDGE Agreement, FREYR Legacy agreed to issue 687,219 warrants to EDGE. The warrants will vest over an eighteen-month graded vesting period and expire on September 30, 2025. Each warrant provided the right to subscribe for one new ordinary share of FREYR Legacy with a subscription price of $0.99 per share. On September 25, 2020, the board approved the modification of the subscription price to be $1.22 per share. On October 6, 2020, the issuance of warrants was approved by FREYR Legacy’s shareholders at the extraordinary general meeting reclassifying the award from liability to equity after which the fair value of the award was no longer remeasured. Upon the consummation of the Business Combination, all unvested awards vested immediately. The following table sets forth the activity relating to warrants outstanding for the year ended December 31, 2021 (aggregate intrinsic value in thousands): For the Year Ended December 31, 2021 Number Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value Warrants outstanding at beginning of period 2,176,081 $ 1.03 Warrants granted - $ - Warrants outstanding at end of period 2,176,081 $ 1.03 2.81 $ 22,084 Warrants exercisable at end of period 2,176,081 $ 1.03 2.81 $ 22,084 Assumptions used to determine the fair value of warrants under the EDGE Agreements using the Black-Scholes-Merton option pricing model are as follows: July 8, 2020 October 6, 2020 Grant date fair value per warrant $ 0.28 $ 0.39 Valuation assumptions: Expected term (years) 4.00 2.80 Expected volatility 43.29 % 43.10 % Expected dividend yield 0.00 % 0.00 % Risk-free interest rate -0.65 % -0.71 % The expected term was calculated using the simplified method based on the warrants vesting term and contractual terms as there was not sufficient relevant historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. The expected volatility was derived from the average historical daily stock volatilities of a peer group of public companies that we consider to be comparable to our business over a period equivalent to the expected term of the share-based grants. The expected dividend yield was based on our expectation of not paying dividends in the foreseeable future. Consequently, the expected dividend yield used is zero. The risk-free interest rate was based on the AAA-Rated Euro Area Central Government Bond Yields. The weighted-average grant-date fair value of the warrants granted during the years ended December 31, 2021 and 2020 was nil Nonemployee Awards On December 4, 2020, FREYR Legacy agreed with a third-party service provider for its support in initiating and enabling high-level discussions with Japanese technology providers to enter into license agreements. In accordance with the agreement, FREYR Legacy planned to issue 413,313 warrants as payment-in-kind. Per the agreement, the warrants vest immediately and may be exercised at any time with the latest being September 30, 2023. As of December 31, 2020, as the warrants had yet to be approved by the shareholders, they were treated as cash-settled liability awards. Until the share issuance is approved by the shareholders, the third-party service provider retains a put option to demand cash payment of EUR 0.4 million ($0.4 million), which was recognized as accrued share-based compensation expense within accrued liabilities in FREYR Legacy’s consolidated balance sheet as of December 31, 2020. On February 16, 2021, FREYR Legacy’s shareholders resolved to issue the 413,313 warrants with an exercise price of NOK 0.01. On March 8, 2021, the warrants were subscribed for by the third-party service provider, and as the put option was no longer in the control of the third-party service provider, the warrants were reclassified from liability to equity and remeasured to the fair value on the date of subscription. As part of this reclassification, the share-based compensation liability of $0.5 million recognized in accrued liabilities as of December 31, 2020, was reclassified to equity. On November 26, 2021, the warrants were exchanged on one-for-one basis for ordinary shares. The following table sets forth the activity relating to warrants outstanding for the year ended December 31, 2021 (aggregate intrinsic value in thousands): For the Year Ended December 31, 2021 Number Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value Warrants outstanding at beginning of period 413,313 $ 0.01 Warrants granted - $ - Warrants exercised 413,313 $ 0.01 $ 4,618 Warrants outstanding at end of period - $ - - $ - Assumptions used to determine the fair value of warrants using the Black-Scholes-Merton option pricing model are as follows: March 8, 2021 Grant date fair value per warrant $ 10.17 Valuation assumptions: Expected term (years) 3.00 Expected volatility 49.80 % Expected dividend yield 0.00 % Risk-free interest rate -0.66 % The expected term is the contractual term per the agreement between us and the third-party service provider. The expected volatility was derived from the average historical daily stock volatilities of a peer group of public companies that we consider to be comparable to our business over a period equivalent to the expected term of the warrants. The expected dividend yield was based on our expectation of not paying dividends in the foreseeable future. Consequently, the expected dividend yield used is zero. The risk-free interest rate was based on the AAA-Rated Euro Area Central Government Bond Yields. The weighted-average grant-date fair value of the warrants granted during the years ended December 31, 2021 and 2020 was $10.17 and nil

Government Grants

Government Grants	12 Months Ended
	Dec. 31, 2021
Government Grants Disclosure [Abstract]
Government Grants	12. Government Grants On February 10, 2021, we were awarded a grant of NOK 2.5 million ($0.3 million based on NOK/USD exchange rate at the time of the transaction) for research, development and innovation in battery cell technology. The grant was awarded to assist with the costs incurred associated with employees and staff, contract research and consultants, overhead and operating expenses and purchased research and development. The grant will be paid out over two years. During the three months ended June 30, 2021, an initial grant was made for 50% of the expected grant for 2021. We will be required to submit annual expense reports with supporting documentation of costs incurred that must be approved before payment. The grant will cover up to 70% of total expected project costs with 75% being granted upon receipt of the annual expense report and the remaining 25% being paid upon the approval of the final project report and third-party attestation. Although a payment of the initial grant has been received, support for the related expenses will not be approved until the submission of the first annual expense report. As such, as of December 31, 2021, we recognized $0.1 million as deferred income in the consolidated balance sheet. For the year ended December 31, 2021, no other income was recognized within the consolidated statements of operations and comprehensive loss. On February 12, 2021, we were awarded a grant of NOK 39.0 million ($4.6 million based on NOK/USD exchange rate at the time of the transaction) for research, development and innovation in environmental technology. The grant was awarded to assist with the costs incurred associated with employees and staff, contract research and consultants, overhead and operating expenses and intellectual property, patents and licenses. The grant is paid out in three installments based on meeting certain milestones in the agreement, in which the last milestone is payable after the final project report is approved. The grant is subject to meeting certain business size thresholds and conditions, such as documenting and supporting costs incurred, obtaining a third-party attestation of our related records and implementing policies that demonstrate good corporate governance. For the portion of any grant received for which costs have not yet been either incurred or supported through the appropriate documentation, we recognize deferred income in the consolidated balance sheets. The first milestone of 30% and the second milestone of 50% were met during the three months ended March 31, 2021 and three months ended June 30, 2021, respectively, and payment was received. However, as of December 31, 2021, the appropriate documentation of the financing of project costs and third-party attestation had only occurred for the second milestone. As such, as of December 31, 2021, we recognized $1.3 million as deferred income within the consolidated balance sheet. For the year ended December 31, 2021, $2.3 million was recognized as other income within the consolidated statements of operations and comprehensive loss. On March 1, 2021, we were awarded a grant of NOK 142 million ($16.5 million based on NOK/USD exchange rate at the time of the transaction) for the development and construction of the pilot plant in Mo i Rana, Norway. The grant was awarded to assist with the costs incurred associated with payroll, rent and depreciation, research and development costs, costs directly related to the production of the pilot plant and other operating expenses. The grant is paid in arrears upon request based on progress and accounting reports with the last milestone becoming payable after the final project report is approved. The grant is subject to achieving successful financing of the pilot plant and other conditions, such as documenting and supporting costs incurred and obtaining a third-party attestation of our related records. As of December 31, 2021, we had not yet satisfied the requirements and thus have not reduced the carrying amount of the pilot plant by any grant amount.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes We had no provision for income taxes for the years ended December 31, 2021 and 2020. Additionally, we had no current tax expense, as a result of historical losses, and have no current deferred tax expense, as a result of the valuation allowance against our deferred tax assets. A reconciliation of the effective rate of tax and tax rate in our countries of registration, Luxembourg, in 2021, and Norway in 2020 are as follows (in thousands, except percentages): For the year ended 2021 2020 Pretax net loss $ (93,378 ) $ (9,605 ) Statutory tax rate 25 % 22 % Income taxes calculated at the statutory tax rate $ (23,288 ) $ (2,113 ) Non-deductible stock-compensation expense 898 - Loss on warrant liability 5,452 - Foreign tax rate differential 1,513 - Transaction costs (807 ) Changes in valuation allowance 16,605 1,728 Other permanent tax items 374 385 Tax expense $ - - Effective rate of tax 0 % 0 % Deferred tax assets and liabilities are as follows (in thousands): As of December 31, 2021 2020 Deferred tax assets Tax losses carryforwards $ 16,295 $ 2,494 Stock-based compensation 2,861 - Total deferred tax assets before valuation allowance 19,156 2,494 Valuation allowance (19,121 ) (2,397 ) Total deferred tax assets 35 97 Deferred tax liabilities Property and equipment 35 2 Prepayment and deferred income - 95 Total deferred tax liabilities 35 97 Net deferred tax asset $ - $ - The valuation allowance increased by $16.7 million and $1.7 million for the years ended December 31, 2021 and 2020, respectively. The increase in the valuation allowance was primarily related to an increase in net operating loss carryforwards. For the years ended December 31, 2021 and 2020, we had net operating loss carryforwards of approximately $70.7 million and $11.3 million, respectively. The Group has significant net operating loss carryforwards in Norway and Luxembourg. In Luxembourg net operating losses can be carried forward for 17 years to offset future income or profits. In Norway net operating losses can be carried forward indefinitely. We are subject to income taxes in our locations of operations. The material jurisdictions in which we are subject to potential examination include Luxembourg and Norway. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws. Our tax years remain open for examination by all tax authorities since inception. We have not identified any uncertain tax positions.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	14. Related Party Transactions EDGE Agreements The 2019 EDGE Agreement provided that FREYR Legacy shall pay EDGE a monthly retainer fee. See Note 11 – Shareholders’ Equity for further discussion on the warrant agreements between FREYR Legacy and EDGE. Furthermore, the FREYR Legacy agreed to make certain milestone payments to EDGE based on the closing of certain additional financing rounds as defined within the 2019 EDGE Agreement. The 2019 EDGE Agreement was superseded on September 1, 2020, by the 2020 EDGE Agreement which extended the term of the 2019 EDGE agreement to December 31, 2021 and set forth the new terms and conditions governing EDGE’s engagement with FREYR Legacy. On January 18, 2021, the board resolved to terminate the 2020 EDGE Agreement and enter into an employment contract with the continuing CEO and a consulting contract with the prior Chief Commercial Officer, subject to the closing of the Business Combination. See below for further detail on the consulting agreement with the prior Chief Commercial Officer. The expenses incurred in relation to the consulting services provided for the years ended December 31, 2021 and 2020 were $4.3 million and $0.6 million, respectively. These expenses are recognized as general and administrative expenses within the consolidated statements of operations and comprehensive loss. The unpaid amount of nil and less than $0.1 million was recognized in accounts payable and accrued liabilities – related party as of December 31, 2021 and 2020, respectively. Consulting Agreement Concurrent with the consummation of the Business Combination, we agreed to a consulting agreement with the prior Chief Commercial Officer and current member of the board of directors. Per the consulting agreement, the consultant will provide services related to scaling sustainable energy storage, as well as any other services requested by us, for a term of three years. During this term, we will pay the consultant an annual fee of $0.4 million. Per the agreement, the consultant is also entitled to participate in our benefit plans made available to our senior executives. The expenses incurred for consulting services for the years ended December 31, 2021 and 2020 were $0.2 million and nil nil Metier In 2020, we entered into a framework agreement with Metier OEC, which provides primarily project management and administrative consulting services. The CEO of Metier OEC is the brother of our current Executive Vice President Projects. The expenses incurred for consulting services for the years ended December 31, 2021 and 2020 were $4.7 million and $0.9 million, respectively. These expenses are recognized as general and administrative expenses within the consolidated statements of operations and comprehensive loss. The unpaid amount of $0.3 million and $0.3 million was recognized in accounts payable and accrued liabilities — related party as of December 31, 2021 and 2020, respectively. Equity Method Investment We hold a 50% common stock ownership in FREYR Battery KSP JV, LLC that is accounted for under the equity method. FREYR along with Koch Strategic Platforms, who also holds 50% common stock ownership, formed FREYR Battery KSP JV, LLC in October 2021 to advance the development of clean battery cell manufacturing in the United States. As part of this agreement, both parties agreed to contribute $3.0 million for the initial costs related to developing the first gigafactory to project concept selection. Project concept selection remains under development as of December 31, 2021. The initial capital contributions by both parties were made in January 2022. For the period from inception to December 31, 2021, FREYR Battery KSP JV, LLC reported a net loss of $0.1 million. Convertible Debt During the year ended December 31, 2020, we issued 2020 Convertible Notes to two related parties. See Note 9 – Fair Value Measurement for further discussion.

Convertible Note

Convertible Note	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Convertible Note	15. Convertible Note On October 8, 2021, we invested $20 million in an unsecured convertible note from 24M, our battery platform technology licensor for our current planned facilities in Norway. See Note 7 – Commitments and Contingencies for further detail on 24M. The note matures on October 8, 2024. The note carries an annual interest rate of 5% and is convertible into common stock or preferred stock at our option beginning on October 8, 2023 or automatically upon a qualified initial public offering or direct listing in excess of our conversion price. Additionally, the note contains a change of control provision that would result in repayment of 1.75x the note’s original investment value plus any accrued interest. We have elected to account for the convertible note using the fair value option. See Note 9 – Fair Value Measurement for details on the valuation methodology.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	16. Net Loss Per Share We compute net loss per share using the two-class method required for participating securities. Under the two-class method, undistributed earnings for the period are allocated to participating securities, including the redeemable preferred shares that were settled as part of the Business Combination, based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. As there was no contractual obligation for the redeemable preferred shares to share in losses, our basic net loss per share attributable to ordinary shareholders for the years ended December 31, 2021, and 2020, is computed by dividing net loss attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding. No dividends were declared or paid for the years ended December 31, 2021 and 2020. Diluted net loss per share attributable to ordinary shareholders adjusts basic net loss per share attributable to ordinary shareholders to give effect to all potential ordinary shares that were dilutive and outstanding during the year. For the years ended December 31, 2021, and 2020, the treasury stock method was used to assess our warrants and share-based payment awards while the if-converted method was used to assess our convertible debt and preferred shares; however, no instrument was determined to have a dilutive effect. The following table sets forth the computation of our basic and diluted net loss per share attributable to ordinary shareholders for the years ended December 31, 2021, and 2020 (amounts in thousands, except share and per share amounts): For the year ended 2021 2020 Numerator: Net loss attributable to ordinary shareholders - basic and diluted $ (93,378 ) $ (9,605 ) Denominator: Weighted average ordinary shares outstanding - basic and diluted 75,362,870 28,312,125 Net loss per ordinary share: Basic and diluted $ (1.24 ) $ (0.34 ) The following table discloses the outstanding securities that could potentially dilute basic net loss per share in the future that were not included in the computation of diluted net loss per share as the impact would be anti-dilutive: As of December 31, 2021 2020 EDGE warrants 2,176,081 2,176,081 Other nonemployee warrants - 413,313 Employee awards 2,101,972 - Share-based compensation liability 1,007,884 179,037 Private Warrants 10,250,000 - Public Warrants 14,375,000 - Redeemable preferred shares - 7,500,000 Total 29,910,937 10,268,431 For the year ended December 31, 2021 the Company excluded the 850,000 CEO Option Awards, as it is not yet probable that the performance conditions will be achieved.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. On an ongoing basis, we evaluate our estimates, including those critical accounting estimates related to the valuation of share-based compensation, our valuation of warrant liability and our valuation of the convertible note. We base these estimates on historical experiences and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on deposit with banks and highly liquid investments with maturities of 90 days or less from the date of purchase.
Restricted Cash	Restricted Cash Restricted cash consists of funds held in a restricted account for payment of upfront rental lease deposits and income tax withholdings to the Norwegian government, payable every other month.
Leases	Leases We account for leases under ASC 840, Leases. Under this guidance, lessees classify arrangements meeting the definition of a lease as either operating or capital leases. Leases are classified as capital leases whenever the terms of the lease transfer substantially all of the risks and rewards of ownership to the lessee. All other leases are recorded as operating leases. As of December 31, 2021, all of our leases were operating leases. We recognize rent expense on a straight-line basis over the lease term.
Grants	Grants For the grants related to the CQP, we reduce the carrying amount of the CQP as the grants are received and the conditions for receiving the grants have been fulfilled. We recognize other grants received as other income over the periods in which the related costs are incurred and the conditions for receiving the grants have been fulfilled.
Research and Development Cost	Research and Development Cost Research and development costs that do not meet the criteria for capitalization are expensed as incurred. Research and development costs consist of compensation, employee benefits, and share-based compensation for employees engaged in research and development activities, as well as fees paid for external engineering, supplies and services, allocation of indirect costs and contributions to research institutions.
Foreign Currency Translation and Transaction Gains and Losses	Foreign Currency Translation and Transaction Gains and Losses Our functional currency is U.S. dollars. Generally, the functional currency of our subsidiaries is the local currency. We translate the financial statements of these subsidiaries to U.S. dollars using period-end exchange rates for assets and liabilities. Revenues and expenses are translated into U.S. dollars using the average exchange rates prevailing for each period presented
Share-Based Compensation	Share-Based Compensation Our share-based compensation includes stock options, warrants and awards that may be settled in our shares. We measure and record compensation expense for all equity-classified awards based on estimated fair values of the underlying stock at the grant date. We initially measure and record liability-classified awards based on estimated fair values of the underlying stock at the grant date and subsequently remeasure to fair value at each reporting date until settlement. We recognize compensation expense for all employee awards with service-based vesting requirements on a straight-line basis over the requisite service period of the awards, which is generally the award’s vesting period. We recognize compensation expense for all employee awards with performance-based vesting requirements using accelerated attribution based on the performance factor probable of achievement as of the reporting date. We account for all forfeitures as they occur.
Warrant liability	Warrant liability We account for Private Warrants as derivative liabilities on the consolidated balance sheets. We measured the fair value at the close of the Business Combination and each reporting date, with changes in fair value recognized in the consolidated statements of operations and comprehensive loss in the period of change.
Investments under the equity method	Investments under the equity method We utilize the equity method to account for investments, including joint ventures, when we possess the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. In applying the equity method, we record the investment at cost and subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee.
Defined Contribution Plan	Defined Contribution Plan We have defined contribution plans in accordance with Norwegian law for employees residing in Norway, as well as abroad. We made contributions to our defined contribution plans of $0.6 million and $0.1 million in the years ended December 31, 2021 and 2020.
Income Taxes	Income Taxes Deferred income tax assets and liabilities are computed on differences between the financial statement bases and tax bases of assets and liabilities at the enacted tax rates. Changes in deferred income tax assets and liabilities associated with components of other comprehensive income are charged or credited directly to other comprehensive income. Otherwise, changes in deferred income tax assets and liabilities are included as a component of income tax expense. The effect on deferred income tax assets and liabilities attributable to changes in enacted tax rates are charged or credited to income tax expense in the period of enactment. Valuation allowances are established for certain deferred tax assets when realization is not likely. Changes in the valuation allowances occurring in subsequent periods are included in the consolidated statements of operations and comprehensive loss. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions, in our judgment, do not meet a more-likely-than-not threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax positions are included as a component of income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2021 or 2020.
Segment Information	Segment Information Our focus is the development of batteries as our primary business and our Chief Executive Officer (“CEO”), who is the chief operating decision-maker, manages our operations as a single operating segment for purposes of allocating resources and evaluating financial performance.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that are potentially subjected to credit risk consist of cash and cash equivalents and the convertible note. Cash and cash equivalents are placed with major financial institutions. We have not experienced any credit loss related to our cash and cash equivalents or the convertible note.
Emerging Growth Company	Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt-out of the extended transition period and comply with the requirements that apply to non-emerging growth companies, but any such election to opt-out is irrevocable. We qualify as an emerging growth company, as defined in the JOBS Act, and therefore intend to take advantage of certain exemptions from various public company reporting requirements, including delaying the adoption of new or revised accounting standards until those standards apply to private companies. The effective dates shown below reflect the election to use the extended transition period.
Recently Issued Accounting Pronouncement	Recently Issued Accounting Pronouncement In December 2019, the FASB issued ASU 2019-12, Income Taxes (ASC 740): Simplifying the Accounting for Income Taxes In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (ASC 842) (ASU 2016-02), as amended, which generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. We will adopt the new standard effective January 1, 2022, on a modified retrospective basis and will not restate comparative periods. We will elect the package of practical expedients permitted under the transition guidance, which allows us to carry forward our historical lease classification, our assessment on whether a contract is or contains a lease, and our initial direct costs for any leases that exist before the adoption of the new standard. We will also elect to combine lease and non-lease components and to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in the consolidated statements of income on a straight-line basis over the lease term. We currently lease our corporate headquarters, CQP, as well as other properties. Upon adoption of ASC 842 management expects that based on our current portfolio of leases, assets and liabilities on the consolidated balance sheet will increase by between $8 million and $10 million due to the recognition of right-of-use assets and corresponding lease liabilities. The adoption of the standard is not expected to significantly impact accumulated deficit.
Adoption of Accounting Pronouncements	Adoption of Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity
Fair Value Measurement and Fair Value Option	Fair Value Measurement and Fair Value Option We define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 Level 2 Level 3 Under the fair value option under US GAAP, the Company has the irrevocable option to report most financial assets and financial liabilities at fair value on an instrument-by-instrument basis, with changes in fair value reported in earnings. Any changes in the fair value of liabilities resulting from changes in the instrument-specific credit risk would be reported in other comprehensive income.
Property and Equipment	Property and Equipment Property and equipment is recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the related asset or the remaining lease term, whichever is shorter. Property and Equipment Computer software and office equipment Three to five years Leasehold improvements Lesser of estimated useful life or remaining lease term The useful lives of our property and equipment are determined by management when those assets are initially recognized and are routinely reviewed for the remaining estimated useful lives. Our current estimate of useful lives represents the best estimate of the useful lives based on current facts and circumstances but may differ from the actual useful lives due to changes in future circumstances such as changes to our business operations, changes in the planned use of assets, and technological advancements. When we change the estimated useful life assumption for any asset, the remaining carrying amount of the asset is accounted for prospectively and depreciated or amortized over the revised estimated useful life. Historically, changes in useful lives have not resulted in material changes to our depreciation and amortization expense. Maintenance and repairs are charged to expense as incurred and improvements are capitalized. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the accompanying consolidated statements of operations and comprehensive loss. Assets held within construction in progress are not depreciated. Construction in progress is related to the construction or development of property and equipment that have not yet been placed in service.

Business Combination (Tables)

Business Combination (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
Schedule of reconciles the elements of the Business Combination and PIPE Investment	Recapitalization Cash - Alussa trust and cash, net of redemptions $ 104,535 Cash - PIPE Investment 600,000 Less: Non-cash net liabilities assumed from Alussa (26,129 ) Less: Transaction costs (60,386 ) Net Business Combination and PIPE Investment 618,020 Add back: Non-cash net liabilities assumed from Alussa 26,129 Add: Accrued transaction costs 353 Net cash contribution from Business Combination and PIPE $ 644,502
Schedule of number of ordinary shares issued following the consummation of the Business Combination	Number of Shares Alussa Class A ordinary shares, outstanding prior to Business Combination 28,750,000 Less: redemption of Alussa Class A ordinary shares (18,439,168 ) Alussa Class A ordinary shares 10,310,832 Alussa Class B founder ordinary shares 7,187,500 Ordinary shares issued in PIPE Investment 60,000,000 Ordinary shares issued to FREYR Legacy preferred shareholders 1,489,500 Business Combination and PIPE Investment ordinary shares 78,987,832 FREYR Legacy ordinary shares (1) 37,452,359 Total ordinary shares immediately after Business Combination and PIPE Investment 116,440,191 (1) The number of FREYR Legacy ordinary shares was determined from the 209,196,827 of FREYR Legacy ordinary shares outstanding prior to the closing of the Business Combination converted at the exchange ratio of 0.179038. All fractional shares were rounded down.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and equipment	As of December 31, 2021 2020 Office equipment $ 1,180 $ 98 Less: Accumulated depreciation and amortization (135 ) (15 ) Construction in progress 20,017 - Less: Foreign currency translation effects - (3 ) Property and equipment, net $ 21,062 $ 80

Accrued liabilities (Tables)

Accrued liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	As of December 31, 2021 2020 Accrued purchases $ 8,165 $ 690 Accrued payroll and payroll related expenses 6,476 518 Accrued other operating costs 424 485 Total accrued liabilities $ 15,065 $ 1,693

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of minimum rentals payable under all non-cancelable operating leases	Year ending December 31: 2022 $ 1,714 2023 1,696 2024 1,692 2025 1,748 2026 1,748 Later years 3,832 Total minimum payments required $ 12,430

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities at fair value on a recurring basis	As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets Convertible Note $ - $ - $ 20,231 $ 20,231 Total $ - $ - $ 20,231 $ 20,231 Liabilities Warrant Liabilities $ - $ - $ 49,124 $ 49,124 Total $ - $ - $ 49,124 $ 49,124 As of December 31, 2020 Level 1 Level 2 Level 3 Total Liabilities Redeemable Preferred Shares $ - $ - $ 7,574 $ 7,574 Total $ - $ - $ 7,574 $ 7,574
Schedule of changes in the Level 3 warrant liability measured at fair value	For the year ended December 31, 2021 Private Warrants Redeemable preferred shares 2020 Convertible Notes Warrant liability Convertible Balance (beginning of period) $ - $ 7,574 $ - $ - $ - Additions 27,265 7,500 - - 20,000 Fair value measurement adjustments 21,859 (74 ) - - 231 Foreign current exchange effects - - - - - Settlements - (15,000 ) - - - Balance (end of period) $ 49,124 $ - $ - $ - $ 20,231 For the year ended December 31, 2020 Private Warrants Redeemable preferred shares 2020 Convertible Notes Warrant liability Convertible Balance (beginning of period) $ - $ - $ - $ 93 $ - Additions - 7,500 1,531 76 - Accrued interest - - 33 - - Fair value measurement adjustments - 70 201 233 - Foreign current exchange effects - 4 - (6 ) - Transfer to Level 2 - - - (396 ) - Settlements - - (1,765 ) - - Balance (end of period) $ - $ 7,574 $ - $ - $ -

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of options and warrants outstanding	For the Year Ended December 31, 2021 Number Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value Awards outstanding at beginning of period 179,037 $ 0.99 Awards granted 832,427 $ 3.20 Awards forfeited 3,580 $ 2.79 Awards outstanding at end of period 1,007,884 $ 2.81 3.70 $ 8,434 Awards exercisable at end of period 1,007,884 $ 2.81 3.70 $ 8,434 For the Year Ended December 31, 2021 Number Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value Awards outstanding at beginning of period - $ - Awards granted 2,105,527 $ 10.05 Awards forfeited 3,555 $ 10.00 Awards outstanding at end of period 2,101,972 $ 10.05 4.74 $ 2,376 Awards exercisable at end of period - $ - - $ - For the Year Ended December 31, 2021 Number Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value Warrants outstanding at beginning of period 2,176,081 $ 1.03 Warrants granted - $ - Warrants outstanding at end of period 2,176,081 $ 1.03 2.81 $ 22,084 Warrants exercisable at end of period 2,176,081 $ 1.03 2.81 $ 22,084 For the Year Ended December 31, 2021 Number Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value Warrants outstanding at beginning of period 413,313 $ 0.01 Warrants granted - $ - Warrants exercised 413,313 $ 0.01 $ 4,618 Warrants outstanding at end of period - $ - - $ -
Schedule of fair value of employee options under the 2021 LTIP using a lattice option pricing model	For the Year Ended December 31, 2021 Range of Assumptions Valuation assumptions: Expected term (years) 3.25 - 4.87 Expected volatility 45.50 % - 56.90 % Expected dividend yield 0.00 % - 0.00 % Risk-free interest rate -0.66 % - 0.81 % For the Year Ended December 31, 2021 Range of Assumptions Grant date fair value per option $ 3.57 $ 5.21 Valuation assumptions: Expected term (years) 3.29 3.50 Expected volatility 56.40 % 57.41 % Expected dividend yield 0.00 % 0.00 % Risk-free interest rate 0.95 % 0.98 %
Schedule of fair value of employee options under the 2021 LTIP using a lattice option pricing model	For the Year Ended December 31, 2021 Range of Assumptions Grant date fair value per option $ 3.26 - $ 3.41 Valuation assumptions: Expected volatility 49.70 % - 50.80 % Expected dividend yield 0.00 % - 0.00 % Risk-free interest rate 0.78 % - 0.82 %
Schedule of fair value of warrants under the EDGE Agreements using the Black-Scholes-Merton option	July 8, 2020 October 6, 2020 Grant date fair value per warrant $ 0.28 $ 0.39 Valuation assumptions: Expected term (years) 4.00 2.80 Expected volatility 43.29 % 43.10 % Expected dividend yield 0.00 % 0.00 % Risk-free interest rate -0.65 % -0.71 % March 8, 2021 Grant date fair value per warrant $ 10.17 Valuation assumptions: Expected term (years) 3.00 Expected volatility 49.80 % Expected dividend yield 0.00 % Risk-free interest rate -0.66 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of reconciliation of the effective rate of tax	For the year ended 2021 2020 Pretax net loss $ (93,378 ) $ (9,605 ) Statutory tax rate 25 % 22 % Income taxes calculated at the statutory tax rate $ (23,288 ) $ (2,113 ) Non-deductible stock-compensation expense 898 - Loss on warrant liability 5,452 - Foreign tax rate differential 1,513 - Transaction costs (807 ) Changes in valuation allowance 16,605 1,728 Other permanent tax items 374 385 Tax expense $ - - Effective rate of tax 0 % 0 %
Schedule of deferred tax assets and liabilities	As of December 31, 2021 2020 Deferred tax assets Tax losses carryforwards $ 16,295 $ 2,494 Stock-based compensation 2,861 - Total deferred tax assets before valuation allowance 19,156 2,494 Valuation allowance (19,121 ) (2,397 ) Total deferred tax assets 35 97 Deferred tax liabilities Property and equipment 35 2 Prepayment and deferred income - 95 Total deferred tax liabilities 35 97 Net deferred tax asset $ - $ -

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of basic and diluted net loss per share attributable to ordinary shareholders	For the year ended 2021 2020 Numerator: Net loss attributable to ordinary shareholders - basic and diluted $ (93,378 ) $ (9,605 ) Denominator: Weighted average ordinary shares outstanding - basic and diluted 75,362,870 28,312,125 Net loss per ordinary share: Basic and diluted $ (1.24 ) $ (0.34 )
Schedule of diluted net loss per share as the impact would be anti-dilutive	As of December 31, 2021 2020 EDGE warrants 2,176,081 2,176,081 Other nonemployee warrants - 413,313 Employee awards 2,101,972 - Share-based compensation liability 1,007,884 179,037 Private Warrants 10,250,000 - Public Warrants 14,375,000 - Redeemable preferred shares - 7,500,000 Total 29,910,937 10,268,431

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]
Defined Contribution Plan, Cost	$ 0.6	$ 0.1
Initial term	12 months
Right of use assets	$ 8
Lease liabilities	$ 10
Minimum [Member] | Computer Software Office Equipment and Other [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Lesser of estimated useful life	3 years
Maximum [Member] | Leasehold improvements [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Lesser of estimated useful life	5 years

Business Combination (Details)

Business Combination (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Jan. 29, 2021	Dec. 31, 2021
Business Combination (Details) [Line Items]
Authorized shares		245,000,000
Business combination converted description		(1)The number of FREYR Legacy ordinary shares was determined from the 209,196,827 of FREYR Legacy ordinary shares outstanding prior to the closing of the Business Combination converted at the exchange ratio of 0.179038.
Business combination [Member]
Business Combination (Details) [Line Items]
Business combination description		Upon the consummation of the Business Combination, each share of FREYR Legacy issued and outstanding was canceled and converted into the right to receive 0.179038 ordinary shares in FREYR (the “Exchange Ratio”).
PIPE Shares [Member]
Business Combination (Details) [Line Items]
Aggregate of ordinary shares	60,000,000
Purchase price (in Dollars per share)	$ 10
Private Placement [Member]
Business Combination (Details) [Line Items]
Aggregate purchase price (in Dollars)	$ 600
FREYR AS [Member]
Business Combination (Details) [Line Items]
Aggregate of ordinary shares		209,196,827

Business Combination (Details)

Business Combination (Details) - Schedule of reconciles the elements of the Business Combination and PIPE Investment $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Schedule of reconciles the elements of the Business Combination and PIPE Investment [Abstract]
Cash - Alussa trust and cash, net of redemptions	$ 104,535
Cash - PIPE Investment	600,000
Less: Non-cash net liabilities assumed from Alussa	(26,129)
Less: Transaction costs	(60,386)
Net Business Combination and PIPE Investment	618,020
Add back: Non-cash net liabilities assumed from Alussa	26,129
Add: Accrued transaction costs	353
Net cash contribution from Business Combination and PIPE	$ 644,502

Business Combination (Details_2

Business Combination (Details) - Schedule of number of ordinary shares issued following the consummation of the Business Combination	12 Months Ended
	Dec. 31, 2021shares
Schedule of number of ordinary shares issued following the consummation of the Business Combination [Abstract]
Alussa Class A ordinary shares, outstanding prior to Business Combination	28,750,000
Less: redemption of Alussa Class A ordinary shares	(18,439,168)
Alussa Class A ordinary shares	10,310,832
Alussa Class B founder ordinary shares	7,187,500
Ordinary shares issued in PIPE Investment	60,000,000
Ordinary shares issued to FREYR Legacy preferred shareholders	1,489,500
Business Combination and PIPE Investment ordinary shares	78,987,832
FREYR Legacy ordinary shares	37,452,359	[1]
Total ordinary shares immediately after Business Combination and PIPE Investment	116,440,191
[1]	The number of FREYR Legacy ordinary shares was determined from the 209,196,827 of FREYR Legacy ordinary shares outstanding prior to the closing of the Business Combination converted at the exchange ratio of 0.179038. All fractional shares were rounded down.

Property and Equipment (Details

Property and Equipment (Details) - Schedule of Property and equipment - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Property and equipment [Abstract]
Office equipment	$ 1,180	$ 98
Less: Accumulated depreciation and amortization	(135)	(15)
Construction in progress	20,017
Less: Foreign currency translation effects		(3)
Property and equipment, net	$ 21,062	$ 80

Accrued liabilities (Details) -

Accrued liabilities (Details) - Schedule of Accrued Liabilities - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Accrued Liabilities [Abstract]
Accrued purchases	$ 8,165	$ 690
Accrued payroll and payroll related expenses	6,476	518
Accrued other operating costs	424	485
Total accrued liabilities	$ 15,065	$ 1,693

Leases (Details)

Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Total rent expense	$ 1	$ 0.1

Leases (Details) - Schedule of

Leases (Details) - Schedule of minimum rentals payable under all non-cancelable operating leases $ in Thousands	Dec. 31, 2021USD ($)
Schedule of minimum rentals payable under all non-cancelable operating leases [Abstract]
December 31, 2022	$ 1,714
December 31, 2023	1,696
December 31, 2024	1,692
December 31, 2025	1,748
December 31, 2026	1,748
Later years	3,832
Total minimum payments required	$ 12,430

Commitments and Contingencies (

Commitments and Contingencies (Details) - Definitive licensing and services agreement [Member] - 24M [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 18, 2020
Commitments and Contingencies (Details) [Line Items]
Commitment amount			$ 20
Commitment amount paid during the year		$ 0.7
Commitment recognized over straight line basis		19.3
Accrued related	$ 12.8	0.4
Minimum annual royalty payments		$ 3

Warrants (Details)

Warrants (Details)	Dec. 31, 2021$ / sharesshares	Feb. 16, 2021kr / shares
Warrants (Details) [Line Items]
Warrant outstanding	24,625,000
Warrants exchanged	14,375,000
Public Warrant per share | (per share)	$ 11.5	kr 0.01
Per share | $ / shares	$ 18
Public Warrants [Member]
Warrants (Details) [Line Items]
Private warrants	10,250,000
Public Warrants [Member]
Warrants (Details) [Line Items]
Public Warrant per share | $ / shares	$ 0.01

Fair Value Measurement (Details

Fair Value Measurement (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)
Fair Value Measurement (Details) [Line Items]
Risk-free interest, description		(i) five years after the completion of the Business Combination or July 9, 2026 and (ii) redemption or liquidation. An increase in the risk-free interest rate, in isolation, would increase the fair value measurement of the Private Warrants and vice versa.
Expected term		4 years 6 months 10 days
Expected terms, description		An increase in the expected term, in isolation, would increase the fair value measurement of the Private Warrants and vice versa.
Fair value of the Private Warrants		$ 21,859	$ 1,670
Fair value of share-based compensation liability		20,200
Interest income		$ 200
Fair value of the redeemable preferred shares	$ 7,574		7,574
Number of debt instruments issued	7
Number of battery projects		2
Minimum [Member]
Fair Value Measurement (Details) [Line Items]
Share-based compensation liability ranged term		24 years
Private Warrants [Member]
Fair Value Measurement (Details) [Line Items]
Exercise price (in Dollars per share) | $ / shares		$ 11.5
Share price (in Dollars per share) | $ / shares		$ 11.18
Fair value of the Private Warrants		$ 49,100
Redeemable Preferred Stock [Member]
Fair Value Measurement (Details) [Line Items]
Fair value of the redeemable preferred shares	$ 7,600		$ 7,600

Fair Value Measurement (Detai_2

Fair Value Measurement (Details) - Schedule of financial assets and liabilities at fair value on a recurring basis - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Note	$ 20,231
Total	20,231
Liabilities
Warrant Liabilities	49,124
Total	49,124
Liabilities
Redeemable Preferred Shares		$ 7,574
Total		7,574
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Note
Total
Liabilities
Warrant Liabilities
Total
Liabilities
Redeemable Preferred Shares
Total
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Note
Total
Liabilities
Warrant Liabilities
Total
Liabilities
Redeemable Preferred Shares
Total
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Note	20,231
Total	20,231
Liabilities
Warrant Liabilities	49,124
Total	$ 49,124
Liabilities
Redeemable Preferred Shares		7,574
Total		$ 7,574

Fair Value Measurement (Detai_3

Fair Value Measurement (Details) - Schedule of changes in the Level 3 warrant liability measured at fair value - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Private Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Foreign current exchange effects
Redeemable Preferred Shares [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Foreign current exchange effects
2020 Convertible Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Foreign current exchange effects
Warrant Liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Foreign current exchange effects
Convertible Note [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Foreign current exchange effects
Level 3 [Member] | Private Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance (beginning of period)
Additions	27,265
Accrued interest
Fair value measurement adjustments	21,859
Foreign current exchange effects
Transfer to Level 2
Settlements
Balance (end of period)	49,124
Level 3 [Member] | Redeemable Preferred Shares [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance (beginning of period)	7,574
Additions	7,500	7,500
Accrued interest
Fair value measurement adjustments	(74)	70
Foreign current exchange effects		4
Transfer to Level 2
Settlements	(15,000)
Balance (end of period)		7,574
Level 3 [Member] | 2020 Convertible Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance (beginning of period)
Additions		1,531
Accrued interest		33
Fair value measurement adjustments		201
Foreign current exchange effects
Transfer to Level 2
Settlements		(1,765)
Balance (end of period)
Level 3 [Member] | Warrant Liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance (beginning of period)		93
Additions		76
Accrued interest
Fair value measurement adjustments		233
Foreign current exchange effects		(6)
Transfer to Level 2		(396)
Settlements
Balance (end of period)
Level 3 [Member] | Convertible Note [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance (beginning of period)
Additions	20,000
Accrued interest
Fair value measurement adjustments	231
Foreign current exchange effects
Transfer to Level 2
Settlements
Balance (end of period)	$ 20,231

Redeemable Preferred Shares (De

Redeemable Preferred Shares (Details) kr / shares in Units, kr in Millions	Nov. 11, 2020USD ($)shares	Feb. 16, 2021USD ($)shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Feb. 16, 2021NOK (kr)kr / sharesshares	Nov. 11, 2020NOK (kr)kr / sharesshares
Redeemable Preferred Shares [Abstract]
Redeemable preferred shares, issued (in Shares) | shares	7,500,000	7,500,000			7,500,000	7,500,000
Redeemable preferred shares, par value (in Krone per share) | kr / shares					kr 0.01	kr 0.01
Aggregate subscription amount	$ 7,500,000	$ 7,500,000			kr 64.1	kr 71.5
Number of affiliates of Alussa to which redeemable preferred shares issued	2	3
Cash Contribution	$ 7,500,000
Number of warrants Issued (in Shares) | shares	92,500,000
Preferred shares and warrants		$ 7,500,000		$ 7,600,000
Adjusted Preferred Share Preference Amount			$ 14,900,000
Holders received ordinary shares			$ 1,489,500

Shareholders' Equity (Details)

Shareholders' Equity (Details) $ / shares in Units, € in Millions, $ in Millions	Dec. 04, 2020shares	Dec. 01, 2020shares	Sep. 01, 2020$ / sharesshares	Jul. 08, 2020shares	Mar. 01, 2019$ / sharesshares	Jun. 16, 2021$ / sharesshares	Feb. 16, 2021kr / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2020EUR (€)shares	Sep. 11, 2019shares
Shareholders' Equity (Details) [Line Items]
Ordinary shares authorized (in Shares) | shares								245,000,000	37,452,359	37,452,359
Ordinary shares outstanding (in Shares) | shares								116,853,504	37,452,359	37,452,359
Exercise of options and warrants granted (in Shares) | shares											895,190
Corporate transaction								50.00%
Compensation expense									$ 0.5
Additional shares authorized								10.00%
Weighted-average grant-date fair value (in Dollars per share) | $ / shares									$ 0.31
General and administrative								$ 0.6
Research and development expense								0.1
Unrecognized compensation expense								$ 6.9
Expense expected to be recognized								2 years 10 months 24 days
Awarded options to acquire shares (in Shares) | shares						850,000
Exercise price (in Dollars per share) | $ / shares						$ 10
Issued Warrants (in Shares) | shares			687,219		1,488,862
Outstanding shares percentage					6.50%
Resolved to issued warrants (in Shares) | shares				1,488,862			413,313
Subscription price per share (in Dollars per share) | $ / shares			$ 0.99		$ 0.95			$ 1.22
Planned to issue warrants (in Shares) | shares	413,313
Cash payment									$ 0.4	€ 0.4
Exercise price (in Krone per share) | (per share)							kr 0.01	$ 11.5
Share-based compensation liability								$ 0.5
Third Party [Member]
Shareholders' Equity (Details) [Line Items]
Compensation expense								$ 3.7	$ 0.5
Weighted-average grant-date fair value (in Dollars per share) | $ / shares								$ 10.17
General and Administrative Expense [Member]
Shareholders' Equity (Details) [Line Items]
Compensation expense								$ 7.1	$ 0.1
Research and Development Expense [Member]
Shareholders' Equity (Details) [Line Items]
Compensation expense								1.7
Warrant [Member]
Shareholders' Equity (Details) [Line Items]
Compensation expense								$ 0.2
Weighted-average grant-date fair value (in Dollars per share) | $ / shares								$ 3.62
FREYR AS [Member] | 2019 Plan [Member]
Shareholders' Equity (Details) [Line Items]
Number of additional shares authorized (in Shares) | shares		895,190

Shareholders' Equity (Details)

Shareholders' Equity (Details) - Schedule of options and warrants outstanding	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Shareholders' Equity (Details) - Schedule of options and warrants outstanding [Line Items]
Number Awards outstanding at beginning of period | shares	413,313
Weighted average exercise price Awards outstanding at beginning of period | $ / shares	$ 0.01
Number Awards granted | shares
Weighted average exercise price Awards granted | $ / shares
Number Warrants exercised | shares	413,313
Weighted average exercise price Warrants exercised | $ / shares	$ 0.01
Aggregate intrinsic value Warrants exercised | $	$ 4,618
Number Awards outstanding at end of period | shares
Weighted average exercise price Awards outstanding at end of period | $ / shares
Weighted average remaining contractual life Awards outstanding at end of period
Aggregate intrinsic value Awards outstanding at end of period | $
2019 Plan [Member] | Awards [Member]
Shareholders' Equity (Details) - Schedule of options and warrants outstanding [Line Items]
Number Awards outstanding at beginning of period | shares	179,037
Weighted average exercise price Awards outstanding at beginning of period | $ / shares	$ 0.99
Number Awards granted | shares	832,427
Weighted average exercise price Awards granted | $ / shares	$ 3.2
Number Awards forfeited | shares	3,580
Weighted average exercise price Awards forfeited | $ / shares	$ 2.79
Number Awards outstanding at end of period | shares	1,007,884
Weighted average exercise price Awards outstanding at end of period | $ / shares	$ 2.81
Weighted average remaining contractual life Awards outstanding at end of period	3 years 8 months 12 days
Aggregate intrinsic value Awards outstanding at end of period | $	$ 8,434
Number Awards exercisable at end of period | shares	1,007,884
Weighted average exercise price Awards exercisable at end of period | $ / shares	$ 2.81
Weighted average remaining contractual life Awards exercisable at end of period	3 years 8 months 12 days
Aggregate intrinsic value Awards exercisable at end of period | $	$ 8,434
2021 LTIP [Member] | Awards [Member]
Shareholders' Equity (Details) - Schedule of options and warrants outstanding [Line Items]
Number Awards granted | shares	2,105,527
Weighted average exercise price Awards granted | $ / shares	$ 10.05
Number Awards forfeited | shares	3,555
Weighted average exercise price Awards forfeited | $ / shares	$ 10
Number Awards outstanding at end of period | shares	2,101,972
Weighted average exercise price Awards outstanding at end of period | $ / shares	$ 10.05
Weighted average remaining contractual life Awards outstanding at end of period	4 years 8 months 26 days
Aggregate intrinsic value Awards outstanding at end of period | $	$ 2,376
Warrants [Member]
Shareholders' Equity (Details) - Schedule of options and warrants outstanding [Line Items]
Number Awards outstanding at beginning of period | shares	2,176,081
Weighted average exercise price Awards outstanding at beginning of period | $ / shares	$ 1.03
Number Awards granted | shares
Weighted average exercise price Awards granted | $ / shares
Weighted average remaining contractual life Awards granted
Aggregate intrinsic value Awards granted | $
Number Awards outstanding at end of period | shares	2,176,081
Weighted average exercise price Awards outstanding at end of period | $ / shares	$ 1.03
Weighted average remaining contractual life Awards outstanding at end of period	2 years 9 months 21 days
Aggregate intrinsic value Awards outstanding at end of period | $	$ 22,084
Number Awards exercisable at end of period | shares	2,176,081
Weighted average exercise price Awards exercisable at end of period | $ / shares	$ 1.03
Weighted average remaining contractual life Awards exercisable at end of period	2 years 9 months 21 days
Aggregate intrinsic value Awards exercisable at end of period | $	$ 22,084

Shareholders' Equity (Details_2

Shareholders' Equity (Details) - Schedule of fair value of employee awards under the 2019 Plan using the Black-Scholes-Merton option	12 Months Ended
	Dec. 31, 2021$ / shares
Minimum [Member]
Valuation assumptions:
Expected term (years)	3 years 3 months
Expected volatility	45.50%
Expected dividend yield	0.00%
Risk-free interest rate	(0.66%)
Minimum [Member] | 2021 LTIP [Member]
Valuation assumptions:
Expected term (years)	3 years 6 months
Expected volatility	57.41%
Expected dividend yield	0.00%
Risk-free interest rate	0.98%
Grant date fair value per option (in Dollars per share)	$ 5.21
Maximum [Member]
Valuation assumptions:
Expected term (years)	4 years 10 months 13 days
Expected volatility	56.90%
Expected dividend yield	0.00%
Risk-free interest rate	0.81%
Maximum [Member] | 2021 LTIP [Member]
Valuation assumptions:
Expected term (years)	3 years 3 months 14 days
Expected volatility	56.40%
Expected dividend yield	0.00%
Risk-free interest rate	0.95%
Grant date fair value per option (in Dollars per share)	$ 3.57

Shareholders' Equity (Details_3

Shareholders' Equity (Details) - Schedule of fair value of employee options under the 2021 LTIP using a lattice option pricing model - 2021 LTIP [Member]	12 Months Ended
	Dec. 31, 2021$ / shares
Shareholders' Equity (Details) - Schedule of fair value of employee options under the 2021 LTIP using a lattice option pricing model [Line Items]
Grant date fair value per option (in Dollars per share)
Valuation assumptions:
Expected volatility
Expected dividend yield
Risk-free interest rate
Minimum [Member]
Shareholders' Equity (Details) - Schedule of fair value of employee options under the 2021 LTIP using a lattice option pricing model [Line Items]
Grant date fair value per option (in Dollars per share)	$ 3.26
Valuation assumptions:
Expected volatility	49.70%
Expected dividend yield	0.00%
Risk-free interest rate	0.78%
Maximum [Member]
Shareholders' Equity (Details) - Schedule of fair value of employee options under the 2021 LTIP using a lattice option pricing model [Line Items]
Grant date fair value per option (in Dollars per share)	$ 3.41
Valuation assumptions:
Expected volatility	50.80%
Expected dividend yield	0.00%
Risk-free interest rate	0.82%

Shareholders' Equity (Details_4

Shareholders' Equity (Details) - Schedule of fair value of warrants under the EDGE Agreements using the Black-Scholes-Merton option - EDGE Agreements [Member] - $ / shares	Mar. 08, 2021	Oct. 06, 2020	Jul. 08, 2020
Shareholders' Equity (Details) - Schedule of fair value of warrants under the EDGE Agreements using the Black-Scholes-Merton option [Line Items]
Grant date fair value per warrant (in Dollars per share)	$ 10.17	$ 0.39	$ 0.28
Valuation assumptions:
Expected term (years)	3 years	2 years 9 months 18 days	4 years
Expected volatility	49.80%	43.10%	43.29%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	(0.66%)	(0.71%)	(0.65%)

Government Grants (Details)

Government Grants (Details) $ in Thousands, kr in Millions	Mar. 02, 2021USD ($)	Mar. 02, 2021NOK (kr)	Feb. 12, 2021USD ($)	Feb. 12, 2021NOK (kr)	Feb. 10, 2021USD ($)	Feb. 10, 2021NOK (kr)	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Government Grants (Details) [Line Items]
Grant of exchange rate for research and development	$ 16,500	kr 142	$ 4,600	kr 39	$ 300	kr 2.5
Grant over period					2 years	2 years
Percentage of Expected Grant Made							50.00%
Maximum percentage of expected project costs covered under grant					70.00%	70.00%
Percentage of project costs granted on receipt of the annual expense report					75.00%	75.00%
Percentage of project costs granted on approval of final project and third-party attestation					25.00%	25.00%
Deferred income									$ 1,380
Research, Development and Innovation [Member]
Government Grants (Details) [Line Items]
Deferred income									100
Research, Development and Innovation in Environmental Technology [Member]
Government Grants (Details) [Line Items]
Deferred income									1,300
Other Income [Member]
Government Grants (Details) [Line Items]
Grant income recognized									$ 2,300
First Milestone [Member]
Government Grants (Details) [Line Items]
Percentage of milestone met								30.00%
Second Milestone [Member]
Government Grants (Details) [Line Items]
Percentage of milestone met							50.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Increase in valuation allowance	$ 16.7	$ 1.7
Net operating loss carryforwards	$ 70.7	$ 11.3
Net operating loss carried forward years	17 years

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of reconciliation of the effective rate of tax - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of reconciliation of the effective rate of tax [Abstract]
Pretax net loss	$ (93,378)	$ (9,605)
Statutory tax rate	25.00%	22.00%
Income taxes calculated at statutory tax rate	$ (23,288)	$ (2,113)
Non-deductible stock-compensation expense	898
Loss on warrant liability	5,452
Foreign tax rate differential	1,513
Transaction costs	(807)
Changes in valuation allowance	16,605	1,728
Other permanent tax items	374	385
Tax expense
Effective rate of tax	0.00%	0.00%

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of deferred tax assets and liabilities - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets
Tax losses carryforwards	$ 16,295	$ 2,494
Stock-based compensation	2,861
Total deferred tax assets before valuation allowance	19,156	2,494
Valuation allowance	(19,121)	(2,397)
Total deferred tax assets	35	97
Deferred tax liabilities
Property and equipment	35	2
Prepayment and deferred income		95
Total deferred tax liabilities	$ 35	97
Net deferred tax asset

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions (Details) [Line Items]
Metier description	The expenses incurred in relation to the consulting services provided for the years ended December 31, 2021 and 2020 were $4.3 million and $0.6 million, respectively. These expenses are recognized as general and administrative expenses within the consolidated statements of operations and comprehensive loss. The unpaid amount of nil and less than $0.1 million was recognized in accounts payable and accrued liabilities – related party as of December 31, 2021 and 2020, respectively. Consulting Agreement Concurrent with the consummation of the Business Combination, we agreed to a consulting agreement with the prior Chief Commercial Officer and current member of the board of directors. Per the consulting agreement, the consultant will provide services related to scaling sustainable energy storage, as well as any other services requested by us, for a term of three years. During this term, we will pay the consultant an annual fee of $0.4 million. Per the agreement, the consultant is also entitled to participate in our benefit plans made available to our senior executives. The expenses incurred for consulting services for the years ended December 31, 2021 and 2020 were $0.2 million and nil, respectively. These expenses are recognized as general and administrative expenses within the consolidated statements of operations and comprehensive loss.
Annual fee	$ 0.4
Incurred expense		$ 0.9
Common stock ownership		50.00%
Initial costs	3
Net loss	$ 0.1
FREYR [Member]
Related Party Transactions (Details) [Line Items]
Common stock ownership	50.00%
Consulting Agreement [Member]
Related Party Transactions (Details) [Line Items]
Incurred expense	$ 0.2
Accounts payable and accrued liabilities	0.1
Metier [Member]
Related Party Transactions (Details) [Line Items]
Incurred expense	4.7
Accounts payable and accrued liabilities	$ 0.3	$ 0.3

Convertible Note (Details)

Convertible Note (Details) - USD ($) $ in Millions	Oct. 08, 2021	Dec. 31, 2021
Debt Disclosure [Abstract]
Convertible note receivable	$ 20
Interest rate		5.00%
Maturity date		Oct. 8, 2024

Net Loss Per Share (Details)

Net Loss Per Share (Details)	12 Months Ended
	Dec. 31, 2021shares
Earnings Per Share [Abstract]
Excluded CEO option awards	850,000

Net Loss Per Share (Details) -

Net Loss Per Share (Details) - Schedule of basic and diluted net loss per share attributable to ordinary shareholders - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net loss attributable to ordinary shareholders - basic and diluted	$ (93,378)	$ (9,605)
Denominator:
Weighted average ordinary shares outstanding - basic and diluted	75,362,870	28,312,125
Net loss per ordinary share:
Basic and diluted	$ (1.24)	$ (0.34)

Net Loss Per Share (Details) _2

Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive [Line Items]
Total	29,910,937	10,268,431
EDGE warrants [Member]
Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive [Line Items]
Total	2,176,081	2,176,081
Other nonemployee warrants [Member]
Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive [Line Items]
Total		413,313
Employee awards [Member]
Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive [Line Items]
Total	2,101,972
Share-based compensation liability [Member]
Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive [Line Items]
Total	1,007,884	179,037
Private Warrants [Member]
Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive [Line Items]
Total	10,250,000
Public Warrants [Member]
Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive [Line Items]
Total	14,375,000
Redeemable preferred shares [Member]
Net Loss Per Share (Details) - Schedule of diluted net loss per share as the impact would be anti-dilutive [Line Items]
Total		7,500,000