FREYR Battery updates guidance after closing on solar manufacturing assets deal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 24 2024
0mins
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.
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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.
