T1 Energy Inc. · NYSE:TE
T1 Energy — FREYR Battery — Q3 2021 Earnings Presentation
15 slides from T1 Energy's earnings presentation, Nov 15, 2021
Slide 1: Q3 2021 Earnings Call
Q2 Q3 2021 2021 Earnings call Earnings call August 12, 2021 November 15, 2021
Slide 2: Important notices
Important notices Forward looking statements The information in this presentation includes “forward-looking statements” Additional information about factors that could materially affect FREYR is set within the meaning of Section 27A of the Securities Act and Section 21E of the forth under the “Risk
Slide 3: Today's Agenda
Today’s Agenda • Business update • Operations update • 24M Technologies spotlight • Financials and outlook
Slide 4: FREYR is Making Significant Progress towards Commercialization
FREYR is Making Significant Progress towards Commercialization Commercial and Strategic Building operational Developing and Financing Progress foundation Expansion to Scale • Negotiating offtake agreements in • Construction of Customer • Concept selection supporting 2H excess of 150 GWh between 2023
Slide 5: Growing Pipeline of Commercial Opportunities
Growing Pipeline of Commercial Opportunities Pronounced battery market short supports high-grading of customer portfolio to drive value Commercial Conditional offtake Opportunities Technical review negotiations agreements >60 prospective customers 25 prospective customers Seven offtake agreement Two
Slide 6: Establishing a Sustainable Supply Chain
Establishing a Sustainable Supply Chain Supply contract with Glencore for responsible sourcing of key battery materials • Contracted up to 1,500 metric tons of sustainably sourced cobalt metal cut cathodes • Produced at Glencore’s Nikkelverk facility in Norway • Joint ambition to reach 100% decarbon
Slide 7: FREYR's Progress and Anticipated Road to Commercialization
FREYR’s Progress and Anticipated Road to Commercialization Focused on milestones to achieve Final Investment Decision for Gigafactories 1 and 2 FREYR and Koch Strategic Platforms Finalize conditional offtake Targeted start up announce formation of U.S. JV and agreements with multiple of combined inv
Slide 8: Positioned for Growth in the U.S.
Positioned for Growth in the U.S. Exploring new opportunities through joint venture with Koch Strategic Platforms Initial 50 GWh Targeting stage-gated Gigafactory development of clean batteries in the U.S. capacity JV partners leveraging existing relationships with key potential U.S.-based customers
Slide 9: Potential for Strategic Growth in Finland
Potential for Strategic Growth in Finland Evaluating new opportunities to develop additional capacity within Nordic battery hub Mo i Rana, Norway • MOUs in place with Finnish Minerals Group Project development and City of Vaasa Vaasa, Finland • Targeted development aligns with strategic New opportun
Slide 10: Operations Update
Operations Update Advancing development of CQP and combined Gigafactories 1 and 2 on parellel paths CQP on schedule for 2H 2022 start-up • Initial site preparation completed • Critical path equipment scheduled for delivery in 1H 2022 Combining Gigafactories 1 and 2 • Targeting nameplate capacity upl
Slide 11: Operations Update
Operations Update Advancing strategic initiatives to develop clean battery supply chains Securing sustainable raw materials supply • Finalizing offtake agreement • Recycled and sustainably sourced cobalt • Five of 13 inputs to CQP secured through contracts Examining downstream integration • Advancin
Slide 12: 24M Technologies: FREYR's U.S.-Based Innovation Partner
24M Technologies: FREYR’s U.S.-Based Innovation Partner SemiSolidTM technology designed to deliver improvements in performance, safety, and cost 24M Technology Highlights Conventional Cell Production 15 production steps (including solvent recovery) Multiple thin layers Innovative design: Thicker ele
Slide 13: Financial Update
Financial Update Making investments to facilitate next phases of commercial and organizational development FREYR 2Q – 3Q Cash Bridge Strong Liquidity and Balance Sheet • Ended 3Q 2021 with $623.5 million of cash, cash equivalents and restricted cash Financing • Developing debt-based financing soluti
Slide 14: Key Strategic Priorities
Key Strategic Priorities Capitalize on building commercial momentum • Leverage customer endorsements to expand market share in ESS and commercial mobility segments • Convert initial offtake agreements to binding sales contracts and secure additional offtake commitments On track to establish 83 GWh I
Slide 15: Q&A
Q&A 15