Freyr targets New York listing, secures EUR 703m

Battery company Freyr takes the easy road onto the New York Stock Exchange by merging with an already listed specialized firm. Freyr says the deal secures NOK 7.3 billion for the company.

Photo: PR / Freyr

Freyr sneaks in through the back door to a public listing on the New York Stock Exchange, to be carried out by merging the firm with Alussa Energy Acquisition Corp., a company already listed on NYSE and established specifically to perform acquisitions and mergers in the energy sector, Freyr informs in a statement.

"We are very pleased with and grateful for the collaboration with Freyr. We have considered more than 75 different investment options in the energy and energy conversion sectors since late 2019, and Freyr stood out as a leading player, ready to use the next generation of battery technology to accommodate the significant and growing need on the markets in the most sustainable way," says Alussa Chief Executive Daniel Barcelo.

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