FREYR Battery updates guidance after closing on solar manufacturing assets deal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 24 2024
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Source: SeekingAlpha
Acquisition Details: FREYR Battery has completed the acquisition of Trina Solar's 5 GW solar module manufacturing facility in Wilmer, Texas, for a total deal consideration of approximately $430 million, which includes cash, stock, and loan notes. The facility is expected to ramp up production by the second half of 2025.
Future Projections: FREYR anticipates achieving an EBITDA of $75 million to $125 million by 2025, with plans to establish a vertically integrated U.S. solar manufacturing footprint, aiming for construction to start in Q2 of 2025 and first solar cell production in late 2026.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
