Mpac signs FREYR framework agreement

RNS Number : 6389Z

Mpac Group PLC

15 September 2022

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018

15 September 2022

Mpac Group plc

('Mpac')

Mpac signs framework agreement with FREYR for the supply of automated cell assembly equipment

Mpac Group plc, a global leader in high-speed packaging and automation solutions, announces that it has signed a framework agreement with FREYR Battery ("FREYR"), for an initial three-year period, for the exclusive supply of the casting and unit cell assembly equipment to the battery cell production line at FREYR's Giga Arctic factory in Norway. 

FREYR is a developer of clean, next-generation battery cell production capacity, incorporating 24M Technologies (''24M'') SemiSolid lithium-ion battery platform technology. Mpac was prequalified to participate in the competitive tender for the framework agreement following several years of cooperation with 24M on industrialising and scaling battery cell assembly.  Mpac will leverage 24M's innovative battery casting technology and in-house expertise and experience in automation and mass production systems to construct and install the equipment.

Previously Mpac was awarded the contract to design and build the development line for FREYR's Customer Qualification Plant (CQP) in July 2021 and this project remains on schedule for shipment in December 2022.

Tony Steels, Chief Executive at Mpac Group plc, commented:

"We have worked closely and effectively with FREYR since being awarded the contract for the development line and I am delighted that our partnership with FREYR has developed into the award of an exclusive agreement to build the first series of production lines for their Gigafactory in Mo I Rana, Norway.  I am excited about the opportunity to establish Mpac as a market leading provider of automation equipment to the clean energy sector and to support FREYR in achieving their ambitious growth plans for a more sustainable future."

Einar Kilde, Executive VP Project Execution FREYR, commented:

"Mpac has a proven track record in delivering complex industrial machinery, and after careful assessment, we believe that they have the best technical solution for our Giga Arctic project," says Einar Kilde, EVP Project Execution, FREYR. "Our collaboration began with our CQP, where we learned that our two companies are well-aligned in our ambitions for speed and scale in producing clean and sustainable battery solutions."

For further information, please contact:

Mpac Group plc Tony Steels, Chief Executive Will Wilkins, Group Finance Director	Tel: [phone]
Shore Capital (Nominated Adviser & Broker) Advisory Patrick Castle Iain Sexton Broking Henry Willcocks	Tel: [phone]
Hudson Sandler Nick Lyon Nick Moore	Tel: [phone]

About Mpac Group

Mpac Group plc is a global leader in high-speed packaging and automation solutions. The Company serves blue chip customers throughout the world in the essential and growing sectors of clean energy, food and beverage, pharmaceutical and healthcare. Headquartered in the UK, the Company has strategically located manufacturing and service locations in North America, Europe and Asia to provide customers with local support for all its product lines: Lambert, Langen, Switchback and Cube.

About FREYR Battery

FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR's mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to deliver a minimum of 50 GWh of battery cell capacity by 2025, over 100 GWh of annual capacity by 2028, and over 200 GWh of annual capacity by 2030. To learn more about FREYR, please visit www.freyrbattery.com.

 

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