FREYR posts Q2 net loss $27M; extends cash runway to 36 months, shifts to conventional battery tech

T1 Energy Inc.

2024-Q2 EPS reported -$0.40

Net loss of $27.0M ($0.19/share) vs $25.3M ($0.18/share) in Q2 2023.
Cash, equivalents, and restricted cash $221.5M; no debt; cash runway extended to ~36 months.
Achieved first automated production trials on 24M SemiSolid platform at CQP, producing >50 unit cells.
Leadership changes: Tom Jensen returns as CEO; Evan Calio appointed CFO; Daniel Barcelo Chairman.
Prioritizing conventional battery technology and less-capital-intensive downstream modules/packs to accelerate revenues and EBITDA by 2025.

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