FREYR Battery Receives Shareholder Approval for Redomicile from Luxembourg to the U.S.
FREYR Battery (NYSE: FREY), a developer of clean, next-generation battery cell production capacity, has received shareholder approval to redomicile from Luxembourg to the United States. The approval was granted during an Extraordinary General Meeting (EGM) held on December 15, 2023. With this development, FREYR expects to finalize the relocation process by the end of this year.
The decision to redomicile to the United States signifies a significant milestone for FREYR Battery. The company expresses gratitude towards its shareholders for their support in passing all proposals at the EGM. Tom Einar Jensen, FREYR’s Executive Chairperson, highlighted the opportunities this move will offer to shareholders and the future prospects for the company. With this vote, FREYR will become a U.S. Company by year end 2023, which will pave the way for us to realize the previously announced benefits to shareholders, Jensen said. He further emphasized the establishment of Giga America in Coweta County, Georgia, as a stepping stone towards becoming a leading U.S.-based battery technology solutions provider.
The redomicile from Luxembourg to the United States signifies FREYR’s commitment to expanding its operations and strengthening its presence in the American market. By relocating, the company can leverage the favorable business environment and resources offered in the United States, enabling it to enhance its battery technology solutions and establish itself as the preferred scaling partner for battery innovations.
FREYR Battery aims to become an industry leader in clean energy solutions by developing and producing high-quality battery cells. With the completion of the redomicile process, FREYR is poised to align its vision with favorable market conditions and drive significant advancements in battery technology.
The decision to redomicile reflects the company’s strategic tireless efforts to foster innovation and establish a global footprint. By expanding operations in the United States, FREYR aims to contribute to the ongoing transition towards renewable energy sources and promote sustainable development in the battery industry.
As FREYR Battery gears up for its transition to the United States, the company remains committed to its core principles of sustainability, quality, and continuous innovation. The redomicile represents a significant step forward in the company’s journey to lead the clean energy transition, and it is expected to have a positive impact on the shareholders’ investments.
FREYR Battery’s approval for redomicile from Luxembourg to the United States sets the stage for an exciting future, where the company’s advanced battery technology solutions will play a pivotal role in driving sustainable energy storage and accelerating the global transition to clean energy.
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