Earnings call transcript Q1 2023

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Operator

Welcome to the FREYR First Quarter 2023 Earnings Conference Call. My name is Bruno, and I'll be the operator for today. [Operator Instructions].

I will now hand over to your host, Jeffrey Spittel, Vice President of Investor Relations. Please go ahead.

Jeffrey Spittel

and afternoon good morning, good evening. Good FREYR to Battery First Call. Conference Earnings XXXX Quarter Welcome on are Officer; the Chief today Bezdek, me With call Battery FREYR Jan Chief Officer; U.S. our President our of Executive Tom-Einar Haugan, Chief Brown, Operating Oscar Financial Jeremy Officer; our Jensen, of Global Development. EVP and Corporate

make statements our call, business. today's During forward-looking management may about

and expectations. forward-looking are outside results to actual statements cause could the are predict. involve These to factors materially difficult significant Most from that FREYR's these risks control and uncertainties of differ

risk information Tom. that, our the filed on Commission, Additional turn I'll on and could business Exchange are factors over available With XX-K about that annual Investor the call materially Relations available with Form S-X, and are affect the section Securities in to of FREYR's which website. report our

Tom-Einar Jensen

is earnings quarter and Thank on for Call. FREYR's good the and you honor which X, York Stock be around good good a years call to world. public or us went is and present XXXX might afternoon on XXXX, ago. true you, This Jeff, it's first since July Again, than the pleasure evening Exchange wherever we X New Earnings morning, now less this eighth

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February activities a the move at towards battery we we you Today, activities focus core CQP will take the on the production. with through as in FREYR's

response large emerging is European response is with increasingly around of Reduction specifics into the America included. transition that and can to world and energy from in volumes realization the a growing regulators distinct the it and Norway There from around Inflation that dive the urgent and happen Act. government only also will the batteries We Giga

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you. FREYR our Chief Jan Battery it Jan President this, now to Haugan, me with and So hand let over over to of Officer Norway. Arve, Operating

Jan Haugan

that lot, to call. everybody reported as quarter you and safety our hello we earnings update And I'm have recurring and operations. Tom, listening topic, I'm a another glad on the going say the Thanks safety regular latest now give that to without on serious first. any incidents. can I a

April, hypotension reported X.X-meter one hypos the subcontractors fell i came contact in we were [indiscernible] or the kilos the ground a was late construction by label being have quarter. at with nobody to and that have first Luckily, was [indiscernible] that incidence Mo in them, in All hurt. The we in still related last height the one to reported to level. from we operations lifting four addition Rana. of However, as XXX X incidents in site

by openly unwanted and are we our key incidents these are predict we to partners. of and incidents the now safety learnings with our are the And potential ability enhance out reports to and in all Investigations sharing carried gather our evaluations to risks of efforts experts future. contractors intensifying independent

sites sustain construction two of people XX We around of in Arctic. in activity our site are summer qualification plan at Mo have XXX at We XXX for plan the Approximately July. customer to close to those vacation level currently Rana. at and that i the Giga working the until

XX immune calls nationalities. challenges of the that place. nearly And we individuals comprises to the we in Rana previous not Mo been our have transparent Group i Operations in representing FREYR earnings XX are

we are deliveries final suppliers complex well were machines. [indiscernible] a have installed individual We mechanically having into acceptance global and the now after different these testing a suppliers, line from test, acceptance performing production factory site completed XX XX

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and control No through South operations in formation all handling to progress. the the feature of Korean Tech on mixing that now into mixing handling, contractor, over inactivity the currently good this site upstream commissioned being section. plant. are from complete commissioning and are test XXM is the the That team electrolyte last Hana slurry powder are over slurry. system, main Operations introduction into based of taken slurry the did part warehouse the and solvent, the And aging has in pending and in handing operations the and the an technology. second the month, of the of running, powder was the of active

The core Mpac equipment Lambert platform a a is that delivered unit on SemiSolid the cost is by U.K. in of the SemiSolid

this previously, part critical first towards the the on battery noted [indiscernible]. is delivery As the

equipment. into complex mechanical -- the and is mechanically sequential all tuning As of activity to This any the integrated taken damages and are today, of the the are completed of is assembly measures precious unit a ongoing. avoid

Giga will at update, left the contractors is at last November picture. at see And operations [indiscernible]. construction civil The have latest drone the the the next you infrastructure continued slide, update are the continuing In buildings site. photo picture. last The latest building contractors the right, from the our On and year. on Arctic can on see upstream you market the the

of with continuing front-end detailing experts signed the loading frame integrated focus control equipment production shiftwork with the following the month. the is now the the system, engineering of with design digital of Siemens Project production on last agreement line of more

continued product plant. development give of with I note in the Jeremy, equipment ongoing and me Giga let again our cooperation to engineering, the the our before use America opportunity managed scoping Arctic design line the is to word field Finally, Giga of close that please

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now on over operational This was update Jeremy I for Giga word to today. America. And update the give an the

Jeremy Bezdek

specifically is Thank we opportunities help us company. success front the a and energy Jan transition you, that that bring as define great It and Arve. capability be momentum generational which partners exciting with in in in transition. and strategic and pursue our interesting are space involved us an definitely time to this the with The role of are

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formal To partners engaged have needed project ecosystem strategic where fair working Xa, a CapEx for within multiple financial with investors initiated process potential we have strategic entity. fund the adviser a the after we Phase as

progress are striving over update due we all of through funding room be process. We the parties weeks requirements hope to have and we CapEx data our fund this and conducting months. able multiple that the coming to to phase and Currently, diligence, in formal the

an Xb $X.X NPV quite to Reduction is the over $X.X believe with credits design $X X projects model Xa, directly $X.X will which do Inflation sits the an between at attractive. that We modeled we broken of the projected coming Act. financial have includes of the billion. The value Xb billion. generate the Xa and total the that We Phase returns Xb, of production process Phase of from Phase with upgrades NPV of project completed plan completion in of cumulative the out NPV project after and Phase X estimated present for billion NPV tax net billion defined the Phase the entirety and of are

energy are storage we generation credit. which We credits uncertainties with related EV believe remaining participate to the in market to specific of the the the well-defined these

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like make Phase I would clarify to point on undergoing one the are we final currently process to detailed Xa XX. investment Slide

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fortunate coalition. with such have Nidec partners in Glencore, and strategic Siemens, as participating are We this us Caterpillar, to

some had value the the a We expressed an in will selection other battery multiple through of initial chain. conversations all be add parts currently the aligned in clean additional to transition. are to inbound key that process advancing we and additional energy are with announcement, names interest scaling Since partners production coalition, acceleration the we the in have that working key

off kicking the we are steering coalition. Additionally, for committee the

the members by of At that will be the key we partner be of where May, identifying streams within attacked companies the coalition. will end work

opportunities also value faster solve identifying the coalition. with the of collective each for chain battery be of problems the and commercial them taking across that while will opportunities a on effort We to members exist

to will progress regularly updates coalition we the as We move continue provide the on of forward.

today. back Jan Thank you you. to your for time Arve,

Jan Haugan

Jeremy. Slide now XX. to lot, a And Thanks

Our raw our securing team materials. further managing strategic in our sourcing progress

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who to a over word the hand us will I financial this, give by update. Oscar, So

Oscar Brown

Great. Thank you, Arve. Jan

quarter financial the an our XXXX of well financial of initiatives. to now provide review will slide as update I as Slide Moving update XX, earnings our first results the financing for on deck. the

with of to compared price company's versus a in March the $XX ended positive liability loss year last first value a last recent our a our $XX loss stock quarter the net changes a compared end improvement and year of the first or quarter year. of period most million net to noncash last warrant from slight adjustment same was on XX, FREYR year. the result XXXX, a a loss loss fair share reported the gain due quarter the of million for $X.XX The For net for noncash

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turn With additional Tom I back for comments. over it to that,

Tom-Einar Jensen

all is becoming and put Oscar, every you the easier you in Jeremy Jan Arve. and capable team. employees day. and FREYR for with to Thank increasingly dedicated hard My work such a you, Thank the professional you job all all

you battery development. sustainable based for will continue As heard, clean we're forward the towards as the was, production scale be on full speed strategic sustainability company we need moving urgent towards at accelerate battery the have large-scale is Speed, of solutions. and to pillars and

have assets, we have the We and have have momentum. technology, we market, the the have we we the people,

investors what partner can professionals. approach industrialization our on As always, improve. partners, add we will constantly an value choice opportunistic focus augment of customers, to we approach and and creation, Keep

before and and the are all June at York our Q&A Chapter Day FREYR's X my we FREYR's slide also But shareholders. New hosting Capital move Inaugural now investors sincere in of Exchange, me on and for Let final gratitude the Stock Markets stated, appreciation development. to to XX

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X. accelerating will a commercial We deep or surprise provide catalyst. dive therefore financing milestone and on maybe efforts Provide in-depth and and into increasing strategic, maybe our reports technical and just

Finally, like for thank your your I investors would to our support patience. and

We and will tuned. invitations revert with details, further but stay

theater We to near you. a are coming

boring go and Life My longer. is final I short. to is rather as intended not be or to say, to you definitely not all advice always should long stay

Jeff? With to operator back or guide this, Thank attention. the to hand over you through let us for your Q&A. Jeff me the

Jeffrey Spittel

the we're up Thanks, for open ready Tom. questions. to line Operator,

Operator

[Operator Instructions].

Our first from Gabe TD Daoud Cowen. question comes from

Gabriel Daoud

the could from -- -- it Is self all just clarification for I and prepared color maybe can CQP? production XQ fully this remarks. a get bit I point? Thanks just a hoping little on more when it is guess, or maybe expect at I was great detail automated we

Tom-Einar Jensen

Well, thank that you for question.

electrodes, stating of cathode remarks, both active and in then our we anodes more we are first produce ready and As gradually we are and to them. produce will more getting prepared the

scaling we're when a the Japan, we in the automation gigawatt-hour and are speed size scale. facility power it's already production technology, battery triple-digit though know, facility to of scale even increasing you megawatt the a increasing first-in-kind a in with As

So we steps want the to sort right. everything get of ensure take that to forward we

by matter that So we will electrodes will improve a gradually active machinery. weeks, we producing and then will the of increase start within off

getting production definitely have Exactly Markets update. the is will Capital it's going when So we around approach. into the will satisfy agreements at in gradual and and during we be But precedent manufacturing milestones and have. catalysts battery speeding Day will the that what to provide offtake conditions of more in what we speed up something we the color that that our our require fully yield to automated uptime a course what and production, year, the be we cell definitely speeding

first speed, cetera. that of that we on additional is scrap thicker in provide will this reduced battery larger updates during producing more to electrodes increase get plant forward, increased we the XXth rates, are is, The in ready when Day the detail getting new we good will as et and news to all and moving and back are produce active with expect Markets qualification electrode yields, customer the This the we something Capital June. to increase uptime we as can you have

Gabriel Daoud

helpful. super That's

Looking forward details. to those

new then mentioned splitting Phase and maybe Xb. shifting phases America, just Xa just And here two Giga between out the Okay. to

lines? as given of do Xa, or so for lines, on the comments gigawatt $XXX just So first about per those And maybe output. for hour two it we so just prior million two CapEx requirements think

So to we FREYR terms $XXX in much sell lines. then of those million ownership for those two down two should how And lines? of expect

Tom-Einar Jensen

-- but a can so general in of weigh Jeremy, and here, sort Well, just comment. you

of as So that we the lines host and and then we two be add obviously, X and of facility. downstream to, will two are build we'll line in upstream phases. infrastructure costs, investment costs more XX Where built upfront It will those and cetera. announcing equipment production initial there gradually, lines, now total and will alluding go we top on first are and then will And building we upgrade a et additional along. course, costs be certain as we

be Jeremy, FID. more specific this more point, that nuance detail focusing our the of and CapEx talk capital guiding we this maybe, investors. quantum to raise bit but to targeting are a about will as more to But color the not around at can some provide you little providing are we We we're and that

Jeremy Bezdek

facility. but this of and -- for years second about, as some America I now, Gabe, we related. to raise kicked of to million, north undergone Happy obviously plant, infrastructure just It we CapEx ago also burn your do not it the that, $XXX for that question, off we're includes next to includes the the Sure. we're over pre-spend the rate Giga guess, the hoping talked It And financing that process have Tom. was about. almost is a several month

project capital and Working for to requirements not mention, the a big I mean, team. we're building

over and U.S. to employees XX we'll be of today, have years. building employees couple the next We XXX

And so with that. costs associated

at level. in So will raise again, CapEx providing project we'll the on but said, that included all be, be later as guidance the Tom

so strategic engagement about with some excited we've and And so we're well. had the financial far, both partners as sectors

Oscar Brown

facility budget commercial not you is single you and and and to more Just XX/X upstream this And XX/X run the give that a and meant Gabe, full with the with context, kind is CQP. line of some capacity, upstream it's because it's limited plant customer brownfield in full line downstream meant just qualification operations. a to X-line of again, is referenced around kind downstream, a

So than it that, will be obviously. bigger

Gabriel Daoud

Yes. Got it. Got it.

makes All sense. that Okay. perfect

credit. that sharing color us NPV of from that, FREYR that tax expectations Could helpful. in help credit talked the about a would last other just on Just the we around more amongst you me. $X.X entire IRA for X, any bit the coming more Slide of you're or from are be one Just maybe the billion give IRA terms there any But parties? some keeping little what assumptions or NPV the

Tom-Einar Jensen

Yes.

it. just can So give maybe on I color some

the particularly of and We storage So we've market perception the space. short modeled, fundamentally a moving course, of in structural environment, market believe energy in forward. our

are thinking going since for to we it. going least initial pricing phase merchant project the we're at of financing into project-level equity So the

We're And pressure of that equipment can We capture imagine, the CapEx that market, forward in parallel America Giga as you we're sourcing global we moving production to how sort of and purchasing as that facilities. we out numbers validating to we're and be mentioned, terms building in assuming benchmarks. we developing, that. power deflationary also as also Arctic updating line both set our happening in now Giga us are benchmarking are and larger are a generally will trying and we of seeing some gives and

Xb Phase loan for We supported course, larger finance X-line when phase, as of that the supported. finance subsequent will, enter the as part of into and we project be will DOE facility, project well

let's the we So the project have reflected enter accept support of when lower, we that say, project. that of agreements offtake to longer probably finance the into we pricing to have phase

is to will establish supply how U.S. to develop project, is battery those observing that tax a plus in record can potential developed we actually Credits, are storage comes stand-alone stand-alone with high they we two are projects tell What to deep these investment the well the the is And have actually customers secure pre-IRA. facilities out. both that And note, us to from share as that customers, in it storage in now requests quite of by important of battery projects, solar so as U.S. little credits which, have significant. inbound the to the that and to play incentives storage market is quite a division the Tax When of which Production sort early way, which too the our incentives it's bit battery itself the

think Tax the is to Production the much is through jury kind and Credit of how divided So ultimately how of filters terms that I out market. in

supply then the function manner. It's but And high. demand really of key I do the and demand clearly able end a guess a supply day. is the at question produce who of in we to see really, timely is

we established a that with have Giga the flying like, of into and We sense or of that put, industrial say up you could are the generally America are of if having plant, for America. sort multiple Arctic you start, Giga have customer starting blueprint of in the that Giga Arctic, largely is line head sort start an are we both our which, production scale we Giga And qualification replicas again, that. and development

manifest really production on at itself of of are the that net upon value XX-line future. But $X.X see present capacity mentioned, we present gross, time. tax value billion, we credit, quite project sort how favorably this over basis a let's $X looking So of full the we'll see say, all the then which billion is and net as from we the

about want something this is it. But maybe, little Jeremy, generally to we're add a but how this, of bit, you thinking kind to

Jeremy Bezdek

nuance credit self-production the both the full assuming billion credit $X.X just number. the and I that of we production only are billion, add The module that the is would realization of $X in

So clarification. my today. that's the what's That's model in

Operator

from from question next comes Lewis Gregory BTIG. Our

Gregory Lewis

going we as kind market? than a around Any the be seems Yes. like around clarity of function move more good kind forward. forward? color of morning, is terms to be can Phase seems size. that? seems that, Thank of Xa you, than supporting Was for and a afternoon, to I kind It it slide thank it's little bit smaller around Phase given nameplate Available what is like of little going color you in everybody. just bit Xa the bit of America. that funding? was that, the strategy Any that is Tom, smaller it you of supply outlining kind for a of the back line that to a average give speed hoping the chain little for going the Giga line the good for on capacity in

Tom-Einar Jensen

Yes. Greg. Thanks,

this. to just So a response quick

over in not generations of And production that of increase as tendency -- technology technologies battery are those XXM have in a any the time. well, the sort most of generation technology. bear mind production speed but any, to So

material Of are active course, of limitations terms in you through conventional to can the how much technology there intrinsic system. push

up have plan. starting operating at label we is production it's that and the course, is describing That expenditure throughput in speed capital what increase implementing X, And the which we X, to what a a major of unit. are production. qualification the certain that, generation with is in are of at materials increases an speed significant when we installed We are built Then capacity. factor also of we as of the speed customer Generation

of of X. Generation into turns So production it like when is lines the gigawatt capacity hours upgrade sort first two after X more

So around that's bit a color little more that.

Generation as production principally, lines the And initial CapEx raise on project X to of X. will, we course, the equity mentioned of build level, the side, at required the

as in for. we embedded Generation And We also benefit we mind stage, for is later lines raising X capital in will with are will also also production at then They're we're the X those which a lines Generation that replace upgrade your what large lines. gradually largely agreements applications conditional embed which batteries, our also January the announced modules based cells this offtake LFP year, we speaking, for producing in increasingly storage energy of we into regard. e-mobility but for first that ultimately will sort in pouch market,

think little a that's how should bit about this. you So

but average a So that we what X.X before if stated have X you which brackets lines, gigawatt only out that relative agree production I low, to hour seem in will because of number is it's also LFP flows Generation X. through which, as energy the Generation that versus to NMC, it's then And the we've on of has said but before, is certain upgraded be a course, the density system. that impact same

hopefully, provides that you color. additional So

Operator

Koenig question from Sachs. next Goldman Philipp from comes Our

Philipp Koenig

on the CQP. first my the of progress is guess I question

visibility those decision envisage send from you Giga Arctic, sample that that of to of do the post you when the months of your we the is investment sort for in have you final time? point on many out that will process? can can customers how And sort cells that are what unlock sort validation you reach when the level of actuals, Sort finishing and that

focused line? then focused be CMD, as CQP level Xa. sort on that progress how project And on as financing the on sort more of it will the the is Phase facility time way that question on part interlinked my very more a on technology, same a any on my Giga second Sort how that much just that be U.S. and and coming that and much color appreciated. And that about whether similar is on guess the question of from America? the we last is I in think on be of -- on is can dependent event would well the dependent

Tom-Einar Jensen

let's to batteries it customer question, to guess, comes trying of to moving mean production when answer of, commissioning on plans qualified qualification So unlocks therefore, and previous offtake electrode agreements it, that in to conditional I that throughput terms the call from question a I was high-speed -- I financing.

mentioned, active electrodes, speed essentially discharge phase a products . at pairs and are So of into producing we we are we're increasing can producing number that of moving are And from from batteries first we manner, weeks into producing will, Then charge number our as that we which them the careful now. away at production batteries we that CQP. increase in increasing the the producing, electrode an we're that and meaning putting

identified to in we we've During sort that we we challenges have issues more have as potential and And rectify X,XXX of time, production mentioned that errors as along. standard than operating potential foreseen. we move procedures will encounter before,

a the the will exactly going amount hard weeks increase for bit speed prepared specific testable sort but speed the terms issues well coming unlock very sufficient come. batteries. of be have in to when But batteries on of that that we're So in we little that of and months we're definitely quite it's to will dramatically producing agreements, offtake a testable

course, site. of the integrating our of to going the testing also third-party testing also, into batteries. We're obviously deeply customers same doing regimes we're that do on We're

we Giga America. additional financing timelines So and is the to clarity you ability metrics. Clearly, milestones filter the are. question, strategic energy But really through of they're unlocking customer also batteries comfort should them, intent level does our time, our same weeks sort of say, embedded and project the there let's is the how second partners of produce is to to at and unlocking relevant and relevant, and sort for technical our have financing expect investors that your coming where When to the strategic transition. will with of in around want deeply in at comes this it our months

with of unlocking batteries, ability a but very for we're So will, significant manner approach a be our produce about the to stakeholders there phased in in to it not-so-distant course, be a these will sure. But link things these future. talking

said, technology. Markets only Capital on the Day we third to not the as on your providing color, question, be additional And I will

in metrics, provide mentioned as technology cetera, milestones. we forward. rate scrap find speed our you aim uptime looking metrics, as around yield the XXM to we remarks, appropriate we scaling We about our We aim et we be for details what As metrics, technical scaling with prepared you we we're to very transparent or metrics, are provide move to Technology. with when aim

So that part will be Capital one presentation. of Day Markets the

them. into in announced also multiple of only the coalition commercial the because deep are making Not plan and there qualification the partnerships, strategic, there at partnership many energy are provide dives of and as transition financial acceleration discussions, We the additional well. which we quite opening will our partnerships customer

more you So that should color maybe level to guidance call, detail relevant we're a of to not expect questions but how posed much but of forward. topics, definitely as envelope a moving that on of more will broad answer the more, this all provide are

Operator

Instructions]. [Operator

comes from Smith Our Julien next question Bank America. of from

Unidentified Analyst

This is Julien. [indiscernible] for on

curious ahead. the I of here. of we running Just you given just that have Xa is speak and guys reflecting was Xa your as a can about timing. on distribution credits, of a on $X.X think, NPV the that questions raised would of in an math I how Xb around I'm move it's presumably the timing one versus how earlier to bit tax the done billion of quickly of you to follow-on, When advantage that NPV FID depending think outsized if much Phase sort mean,

Tom-Einar Jensen

this Jeremy, that question. do Thank Yes. in for want you chime on you to one.

Jeremy Bezdek

Yes, sure.

-- we mean, also So credits see only billion. model We a -- mind, just roughly it's I the it's make at not capacity. looked that up in have coming but it's of in keep breakdown the that timing, in $X.X

an does Xb. the timing it's capacity have year a from versus Xa X to likely about yes, while so only And standpoint, be advantage delta for

about it public in do math actually see we to So trying here.

the maybe the of $X.X coming I XX% of XX% in is like project that, think XX% it's project. to in the with Xa Xb that billion remainder

in of when of timing. XX in of upgrade capacity again, later have you and And you happens look little gigawatt So after at that it coming X a course, Xa hours the upgrade. bit

able the and which, capacity again, have of with go and the that this margin to in planned. point whole we you earlier had is credits acceleration the the associated get to business being Phase what originally than So do Xa early plan those smaller

but of credit all about of a add so to the the coming project, sort and net and XX% the it's And the XX% is in Xb breakdown to rest Xa.

Unidentified Analyst

super back Arctic. Maybe to That's shifting Giga helpful color.

around You made spending sort mentions your series guys of capital cadence. of a

of are broad-based the feet on? If translating FREYR, allocate I think, to as pretty for? you do close you to early mentioned summer. expect waiting whatever just summer all given question, sort guys throughout things you the about your as can the not to that willing exactly think Tom, you're something What we're multivarious we you and then but are to how to going capital you is how hold

Tom-Einar Jensen

Yes.

about So government guess the in what the talking France to were these you're have Inflation in response bit Norwegian billions. specifics EU into for all up packages the referring And specific the transition earlier towards the crisis of say, That of like the temporary this last to did the alluded for giga under the countries end last to Act come of week, out it, factories with as I And the announced Reduction Giga packages now and as support developed high-level factories response IRA Germany, week detailed manifest from itself to to is let's linked support Union still starting course, to presentation we're year. in a unclear their, little we of European being Spain. material, responses framework. the

those at and they have will we very very closely site -- have of which, have that relationship strategy stated government, a packages the strong European X year less with, Arctic with of support their launched since Norwegian align ago the Norwegian The Giga than Union. battery the course, clearly close national

that we're is feedback that from building. believe to have are of kind scaling we them And in support now competitive summer. such us to should expecting as of that packages the provided we to our seeing government. dialogue you Giga with quite be support unlock Norwegian for think be with the will course, what the provided specific packages we a the been We, we been have factories reference before So to formal clarity are the what

context, But have technically the in it's quarter. what summer by the before communicated. is probably of the summer end second Before been we this the

clear build, Giga So clarity support additional spending as weeks the Arctic Giga We've seeking away at Oscar's on later when towards we've And though from length are to these capital remarks, your even and part specifically government the need are comes year. quite Giga more clearly a been we And with on we this project are comes America. America this. of question, raise in the we releasing unlocking strong we projects to on that balance it capital spoken second and particular, in at for finance it to equity moving Arctic, also raise the sheet, are project we prudent there. having for to level Giga have

we support comes what on forward. evaluate then of be back depending in specifics we market with how will then what through, to will package So that is, that our the terms and project we push

are we at to meantime, develop pace. the continuing measured in so-called it But

developing, -- to and it, continue a of from forward development lockstep can is in see materials, coming government. the from see, the the and going with incentive you becoming and tax close as facility the move plant but on obviously it's large will So the you we're to

Operator

questions. We further currently have no

to would back to So for ahead. hand I call like remarks. the Jeffrey Spittel go final Please

Jeffrey Spittel

greatly Thanks. the And see speak thoughtful And of you we're for we the at the will the Exchange Thank be then, Bruno. road on looking day to everybody, soon. of hosting We'll rest Thanks, XX. your course, follow-ups and on the Stock the everybody We'll New you very questions. soon. to forward for you, and York the time and week. attention available for

FREYR Battery (FREY) 15 May 232023 Q1 Earnings call transcript