A $2.57 billion FREYR Battery production plant will soon be built in Coweta County, Georgia. The developer, FREYR Battery announced that it recently purchased a 368-acre plot at the Bridgeport Industrial Park site for the project. According to the developer, the site location was selected based on key operational, logistical, and financial criteria.
FREYR and its joint venture partner, Koch Strategic Platforms have plans of building the new battery plant in multiple phases. Consequently, both companies are contributing a total of $70 million to commence the initial phase of the FREYR Battery production plant.
Koch is investing $50 million, while FREYR is providing the remaining 20 million for the initial phase. Additionally, FREYR will also apply for U.S. Department of Energy funds and other grants to raise more funding.
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Development plans for the FREYR Battery production plant
The focus of the new FREYR Battery production plant will be mostly on battery energy storage solutions. According to the developers, energy storage is particularly important for wind and solar energy systems in the U.S. Therefore, the project’s initial phase will include a cell production module of approximately 34 GWh. This was designed based on the next generation of 24M Technologies for the SemiSolid™ production platform in the U.S.
The developers expect the new Battery production plant to create about 723 jobs. In addition, the project is also likely to provide capital investments worth more than$2.6 a billion by 2029. Especially since FREYR is targeting a broader global plan of building up to 200-gigawatt hours of capacity by 2030.
Governor Brian Kemp was pleased with the new Battery production plant and welcomed the developers to the state. Kemp said FREYR was the latest company to bring transformational investments and opportunities to communities in the Peach State. Therefore, the Governor said he was looking forward to witnessing their growing impact on Coweta and the surrounding region
