Freyr Battery and Stena Recycling Partner to Recycle Battery Material in Norway

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Freyr Battery ($NYSE:FREY), a leading producer of battery solutions for electric vehicles, announced on Tuesday that it had reached an agreement with Stena Recycling to recycle battery scrap from its customer qualification plant in Norway. This partnership is a major step forward in Freyr’s efforts to create a sustainable and circular economy for lithium-ion batteries. The company has developed a unique “Full-Cell” architecture, which enables them to produce cells that are safer, more efficient, and longer lasting than traditional cells. Freyr has also developed a recycling process that captures and reuses the valuable materials from used lithium-ion batteries. The partnership with Stena Recycling marks the first step in Freyr’s efforts to establish a circular economy for lithium-ion batteries. Through this partnership, Freyr will provide Stena Recycling with battery scrap from its customer qualification plant in Norway.

This scrap will be recycled and reused to create new materials for use in the manufacture of new batteries. The agreement between Freyr and Stena Recycling is an important step towards creating a more sustainable future for the lithium-ion battery industry. By recycling and reusing battery materials, Freyr is reducing the global demand for raw materials while at the same time reducing environmental pollution. This partnership is just the start of the company’s efforts to create a more sustainable future for its customers and the environment.

Share Price

On Friday, FREYR BATTERY opened at $7.5 and closed at $7.4, down by 1.7% from their prior closing price of 7.5. This came shortly after the announcement of a new partnership between FREYR BATTERY and Stena Recycling to recycle battery material in Norway. The agreement will see Stena Recycling collect, transport and treat all battery material from FREYR BATTERY in Norway, as well as help manage the end-of-life service for batteries.

This marks an important step forward in FREYR BATTERY’s commitment to sustainability and environmental stewardship. Through this partnership, both companies are working to ensure that the battery material is recycled responsibly. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

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Analysis

GoodWhale has conducted an analysis of FREYR BATTERY‘s financials. After analyzing the Star Chart, we have concluded that FREYR BATTERY is strong in assets and weak in dividend, growth and profitability. FREYR BATTERY has an intermediate health score of 6/10 considering its cashflows and debt, indicating that it may be able to sustain future operations in times of crisis. We have classified FREYR BATTERY as an ‘elephant’, which means that it is rich in assets after deducting off liabilities. As for what type of investors may be interested in such a company, this would depend on the individual investor’s risk appetite and goals. This company appears to have a solid foundation of assets, and may be attractive to investors who prioritize investing in companies with a strong asset base. However, with lower dividends and weaker growth and profitability, this company could be considered more of a long-term investment, so investors who are looking for quick returns might opt to look elsewhere. More…

Peers

The company has a strong competitive edge in the market due to its advanced technology, high quality products, and excellent customer service. FREYR Battery‘s main competitors are Gotion High-tech Co Ltd, Ilika PLC, and Flux Power Holdings Inc. These companies are all well-established players in the market and offer a variety of products and services.

– Gotion High-tech Co Ltd ($SZSE:002074)

Gotion High-tech Co Ltd is a publicly traded company with a market capitalization of 56.43 billion as of 2022. The company has a return on equity of 1.97%. Gotion High-tech Co Ltd is a leading provider of high-tech products and services. The company’s products and services include semiconductors, software, and hardware.

– Ilika PLC ($LSE:IKA)

Ilika PLC is a company that focuses on the development of sustainable energy solutions. The company has a market capitalization of 80.52 million as of 2022 and a return on equity of -15.25%. Despite the negative return on equity, the company’s market capitalization indicates that investors are still confident in the company’s ability to generate returns in the future. The company’s focus on sustainable energy solutions is also likely to be a major driver of future growth.

– Flux Power Holdings Inc ($NASDAQ:FLUX)

Flux Power Holdings Inc is a developer, manufacturer, and marketer of advanced batteries for industrial applications in the United States. The company offers lithium-ion batteries, battery packs, chargers, and related products for electric forklifts and other material handling equipment, airport ground support equipment, and other lift truck and industrial applications.

Summary

Freyr Battery has recently signed a deal with Stena Recycling to recycle battery material generated from their customer qualification plant in Norway. This agreement signals the company’s commitment to sustainability and demonstrates their focus on maximizing value for their investors. The recycling of scrap material makes good financial sense, as it reduces costs associated with waste storage and disposal.

Additionally, it is beneficial to the environment and further aligns Freyr with international sustainability standards. The deal should bolster investor confidence in Freyr Battery and may result in increased capital inflows. Ultimately, the agreement should be seen as a positive sign for investors as it is indicative of Freyr’s strategy to generate long-term value for shareholders.