T1 Energy Inc. · NYSE:TE
T1 Energy — FREYR Battery — Q3 2022 Earnings Presentation
17 slides from T1 Energy's earnings presentation, Nov 14, 2022
Slide 1: FREYR 3Q 2022 Earnings Call
FREYR 3Q 2022 Earnings Call November 14, 2022
Slide 2: Important notices
Important notices Forward looking statements All statements, other than statements of present or historical fact included in this presentation, including, without These forward-looking statements involve significant risks and uncertainties that could cause the actual limitation, regarding FREYR’s of
Slide 3: Today’s Agenda
Today’s Agenda • FREYR refresher • 24M Technologies overview • Key messages • ESS market dynamics • Giga America project overview • Strategic partnerships • CQP and Giga America project updates • Financial update • Strategic priorities • Q&A
Slide 4: FREYR’s Strategy & Story
FREYR’s Strategy & Story Key themes tied to core strategic tenets of Speed, Scale and Sustainability FREYR offers differentiated exposure to the secular growth trends in the battery market as an emerging clean battery producer of choice in Europe and the U.S. FREYR is on track with its goal of becom
Slide 5: The FREYR journey so far and our ambitions
The FREYR journey so far and our ambitions October 2021 September 2022 November 2022 Customer Qualification Additional Giga America FREYR and Koch Strategic Enters agreement with HENT AS Announce Giga America site Plant factories Platforms form U.S. JV and to construct Giga Arctic facility selection
Slide 6: Strategic Alignment with 24M Technologies
FREYR’s U.S.-Based Technology Partner Strategic Alignment with 24M Technologies Simplified SemiSolidTM manufacturing process enables energy, people, and capital efficient development of clean batteries at scale Chemistry agnostic platform supports current and next-generation cell technologies Commer
Slide 7: Key Messages
Key Messages Focused on meeting key financial and industrial milestones on path to giga scale development Intensifying and broadening financing efforts to support parallel development of Giga Arctic and Giga America Giga Arctic project financing process in second stage targeting conditional credit a
Slide 8: ESS Demand Rapidly Increasing
ESS Demand Rapidly Increasing Long-term demand growth projections for ESS applications continue to be revised materially higher Global ESS Demand Forecasts Build outs required to meet climate targets FREYR is positioned to address burgeoning demand for stationary storage applications in Europe and t
Slide 9: Initiating Development of Giga America
Initiating Development of Giga America FREYR is committed to producing clean, next-generation batteries in the U.S. at giga scale FREYR announced the selection and purchase of the Giga America site in Coweta County, GA on November 11th Initiating project development with intention to replicate key e
Slide 10: Giga America Project Overview
Next-Generation, Clean Batteries at Giga Scale Giga America Project Overview Selected out of 130 sites in 25 states Multi-phase manufacturing project Phase 1 – 34GWh cell production capacity with initially estimated capital investment of $1.7 billion Additional phases expected to include highly valu
Slide 11: New Strategic Partnerships
New Strategic Partnerships Executing strategy to generate value through responsible sourcing and decarbonized, localized supply chains Aleees Worldwide license and services agreement provides access to leading LFP cathode processing technology Unlocks opportunity to construct one of the first LFP re
Slide 12: Operations Update: Customer Qualification Plant
Operations Update: Customer Qualification Plant Construction of CQP progressing to targeted first sample cell production in 1Q 2023 Status of construction: Recently completed first Site Acceptance Test of integrated milling equipment in upstream powder handling area Hana Technology personnel perform
Slide 13: Operations Update: Giga Arctic
Operations Update: Giga Arctic Early stages of construction underway in Mo i Rana, Norway Status of construction: FREYR’s Board of Directors approved $70 million of capital spending on the development in 3Q to ensure timely orders of critical path, long-lead time items Initial stages of building and
Slide 14: Operations Update: Giga Arctic
Operations Update: Giga Arctic Giga scale renderings for comparison with Oslo, Rome, and lower Manhattan 14
Slide 15: Financial Update
Financial Update Progress on capital formation continues Strong Liquidity and Balance Sheet FREYR YTD 2022 Cash Bridge Ended 3Q 2022 with $419 million of cash $147 million of net cash used YTD 2022 Giga Arctic Project Financing Update Market sounding completed in 3Q for up to $1.5 Bn of credit facil
Slide 16: Key Priorities
Key Priorities Focused on achieving near-term milestones to enable development of FREYR’s long-term objectives and strategy Complete construction of CQP and produce sample cells in 1Q 2023 to unlock Giga Arctic project financing, accelerate technology adoption and validate road map to giga scale Int
Slide 17: GOQFREYR
GOQFREYR