EU Innovation Fund selects FREYR for €122M grant for CAM project in Finland

T1 Energy Inc.

€122 million grant from EU Innovation Fund for proposed joint venture Cathode Active Material (CAM) facility in Vaasa, Finland.
Project targets initial nameplate capacity of 30,000 tons per year of LFP CAM.
Grant finalization expected in Q1 2025 subject to satisfaction of various criteria.
FREYR continues work with technology licensor, partners, customers on CAM project basis.
CEO Tom Einar Jensen: FREYR focused on U.S. development while exploring value from European projects including CAM facility.

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