RE:Freyr talking about system integrator partnership hmmmm Great article. This is very interesting:
Energy storage focus
“We aim to have 83GWh of installed production capacity by 2028 and more than 100GWh by 2030, and I would say that based on what we see now, we believe that we might easily dedicate half of that to the energy storage system (ESS) market,” Jensen said.
He explained that the technology it has licensed from the US company 24M to build its batteries is highly suited to storage applications because it contains more energy-carrying material. (You can read an interview Energy-storage.news did with 24M’s management team about its technology here.)
FREYR is therefore targeting all segments of the ESS market and could theoretically dedicate even more than half of capacity to the sector, Jensen said: “We believe that the (storage) market is growing much faster and going to be much bigger than most people think so we could in fact dedicate all our production capacity to energy storage, if we wanted to.”
“But we’re also getting quite a lot of interest from mobility and EV players, so the exact fraction (of production capacity) is going to be a function of multiple different ongoing discussions. But the technology we have and our positioning in the ESS space makes us a leading provider of ESS solutions using decarbonised battery systems, and we will obviously try to capture as much of that market as possible.”
System integrator play
The emphasis on storage as a target market is clear from the fact its two major announced offtake agreements have both been in that space. Technology group Honeywell will buy 19GWh of batteries from FREYR between 2023-2030 while a second, unnamed partner will purchase 31GWh in the same period in a partnership that will see FREYR contribute to a system integrator play.
“Once finalised, we believe that these two initial offtake agreements may take the bulk of our first gigafactory’s capacity (operational in 2023) for the first four to five years,” Jensen said.
“We expect to enter into a joint venture with the unnamed partner for developing full containerised solutions, which will basically be the final product including BMS (battery management system) and everything. That will effectively be a system integrator approach together with that partner.”