FREYR Battery announced a conditional offtake agreement with Impact Clean Power Technology. Under the terms of the agreement, FREYR will supply 10 – 14 GWh of clean, next-generation battery cells based on the 24M Technologies Inc. (“24M”) SemiSolidTM platform to Impact from 2025 – 2030. FREYR intends to supply Impact with clean battery solutions based on the same battery cell architecture as the ESS products that will be produced at its Giga Arctic battery production facility in Mo i Rana, Norway.

The LFP cells will be integrated into Impact's E-Mobility products for use in commercial vehicles as well as other applications. FREYR is targeting the commercial and passenger vehicle markets to complement the company's continued strong traction in the ESS space. By producing clean, next-generation battery solutions and aspiring to localize and decarbonize supply chains, FREYR is seeking to provide a distinct and competitively differentiated LFP cell offering from conventional technology suppliers based in Asia.

FREYR's LFP cells for the ESS and E-Mobility markets are based on 24M's SemiSolidTM platform, which enables lower-cost and more sustainable lithium-ion battery production. The contract between FREYR and Impact covers the period until 2030, with potential for further extension. This framework agreement is non-binding and the orders will be carried out in accordance with the needs of Impact and may reach a value of $1.8 billion based on BNEF's recent 2025 lithium price estimates and other conditions.