Q2 2024 FREYR Battery Inc Earnings Call Transcript
Key Points
- FREYR Battery Inc (FREY) has a strong cash position of over $200 million with no debt on its balance sheet.
- The company has proven its ability to produce functional batteries using next-generation equipment on the 24M SemiSolid platform.
- FREYR Battery Inc (FREY) has a global partnership and customer network, including leading partners across the entire battery value chain.
- The company is focusing on advancing business development opportunities that are the quickest to market, such as downstream module and pack production.
- FREYR Battery Inc (FREY) has a revamped Board and leadership team with extensive experience and expertise in the energy sector, capital formation, and deal-making.
- The capital markets have been chaotic, making it challenging to raise capital for cell manufacturing in the West.
- The company is facing significant risks and uncertainties that could cause actual results to differ materially from expectations.
- There is a surplus of battery production in Asia, which poses a competitive challenge for FREYR Battery Inc (FREY).
- The battery industry is facing challenges such as improving battery safety, increasing energy density, and driving down raw material and conversion costs.
- The company needs to implement additional measures to extend its runway to approximately 36 months without assuming the addition of any new sources of funding.
Hello, and welcome to FREYR Battery's Second Quarter 2024 Earnings Conference Call. With me today on the call are Daniel Barcelo, Chairman of FREYR's Board of Directors; our Co-Founder, Chief Executive Officer and Board Director, Tom-Einar Jensen; and Evan Calio, our Chief Financial Officer.
During today's call, management may make forward-looking statements about our business. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expectations. Most of these factors are outside FREYR's control and are difficult to predict.
Additional information about risk factors that could materially affect our business are available in FREYR's S-1 and Annual Report on Form 10-K filed with the Securities and Exchange Commission, which are available on the Investor Relations section of our website.
With that, I'll turn the call over to Daniel.
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