T1 Energy Inc. · NYSE:TE
T1 Energy — FREYR Battery — FY2021 Earnings Presentation
14 slides from T1 Energy's earnings presentation, Feb 28, 2022
Slide 1: FREYR 4Q and Full-Year 2021 Earnings Call
February 28, 2022 FREYR 4Q and Full - Year 2021 Earnings Call
Slide 2: Important notices
Important notices 2 Forward looking statements All statements, other than statements of present or historical fact included in this presentation, including, without limitation, regarding FREYR's ability to develop the world's cleanest and lowest CO2 lifecycle emissions batteries at giga - scale; FRE
Slide 3: Today's Agenda
• Business update • FREYR’s strategic road map and priorities • Establishing supply chains and operations • FREYR’s market opportunity is expanding • Making commercial progress • Financing the planned expansion • Near - term priorities • Q&A Today’s Agenda 3
Slide 4: Business Update
Business Update Building FREYR’s operational foundation Customer Qualification Plant (CQP): • On track for operational start during 2H 2022 Gigafactory Development: • Combining Gigafactories 1&2 into single facility with eight production lines and upsized nameplate capacity of 18 GWh • Increase of 4
Slide 5: FREYR's Anticipated Path to Commercialization
FREYR’s Anticipated Path to Commercialization Focused on achieving milestones to build a global, giga - scale player 2018 - 2021 2021 - 2022 2023 - 2024 2025 2028 2018 FREYR established with clear strategic tenets of Speed, Scale and Sustainability December 2020 Definitive technology license agreeme
Slide 6: Focused on Execution
Commercial • Announced first two major offtake awards with global industrial players for >50 GWh • Advancing discussions with multiple potential ESS, Commercial Mobility and EV customers • Line of sight to >150 GWh of incremental cell demand from next potential customers in the pipeline • Advancing
Slide 7: Process to Secure Key Raw Materials Underway
Process to Secure Key Raw Materials Underway Supply chain framework supports initial giga - scale development on path to eventual localization Frame agreements and other early - stage supply chain initiatives • Supply chain and operations team focused on building a broader, resilient and reliable su
Slide 8: Operations Update
Operations Update Construction of CQP and site preparation of Combined Gigafactories 1&2 progressing CQP on track for late 2022 start of production • Manufacturing of Production Line Equipment on schedule • Detailing factory acceptance testing and site deliveries • Formation & Aging process room bei
Slide 9: Projected Global Battery Supply Insufficient to Meet Climate Ambitions
Source: Rystad Energy. Projected Global Battery Supply Insufficient to Meet Climate Ambitions Targeted production is not expected to keep pace with requirements to meet a 1.6 - degree target Key Observations • Rystad’s latest forecast of global demand required to meet a 1.6 - degree scenario of near
Slide 10: Major Commercial Wins
Major Commercial Wins Conditional Offtake Highlights x Formation of joint venture between FREYR and global industrial player to package clean battery solutions with EPC offering x Total volumes represent > 50% of projected production 1 in Mo i Rana Gigafactories 1&2 from 2024 – 2028 • Renewables div
Slide 11: Growing Pipeline of Commercial Opportunities
Growing Pipeline of Commercial Opportunities Opportunities Te chn i c al review Commercial n egoti a tion s Conditional offtake agreements >60 prospective customers Dialogues include technical review, commercial negotiations and advanced offtake negotiations 25 prospective customers >3,000 GWh of es
Slide 12: Financial Update
Financial Update Focused on securing financing to fund FREYR’s planned capacity expansion FREYR 3Q – 4Q Cash Bridge Strong Liquidity and Balance Sheet • Ended 4Q 2021 with $566 million of cash, cash equivalents and restricted cash Financing • Developing debt - based financing solutions to facilitate
Slide 13: Key Strategic Priorities
Key Strategic Priorities Advance critical mandates tied to Speed, Scale and Sustainability Fund the expansion • Secure capital required to finance combined Gigafactories 1&2 • Identify additional capital solutions to facilitate planned giga - scale build out in Norway, U.S. and Finland Develop, loca
Slide 14: Q&A
Q&A