FREY - FREYR Battery GAAP EPS of -$0.09 beats by $0.22

2023-05-15 06:17:03 ET

• FREYR Battery press release ( NYSE: FREY ): Q1 GAAP EPS of -$0.09 beats by $0.22 .
• As of March 31, 2023, FREYR had cash, cash equivalents, and restricted cash of $474.8 million.
• Business Outlook: Produce the first battery from the CQP, integrate production line equipment modules to reach fully automated production of cells and modules, and ramp production of testable batteries. The capability to produce sample cells from the CQP is expected to accelerate and cement customer dialogues, fortify FREYR’s competitive position, demonstrate the scalability of the 24M manufacturing process, and satisfy key technical performance milestones for financing purposes.
• Accelerate the Company’s expansion in the U.S. to address customer inquiries for fit-for-purpose ESS solutions and to maximize the financial impact of the IRA along with state and local tax incentive packages.

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