Mission Statement, Vision, & Core Values of FREYR Battery (FREY)

What steers a company like FREYR Battery, especially when it's navigating the complex waters of sustainable energy and aiming for significant growth? It all boils down to its mission, vision, and core values. With a net loss of $94.9 million in 2024 and a strategic focus on the U.S. market after pausing production in Norway, understanding these guiding principles becomes crucial. Are you curious to see how these elements come together to shape its strategic direction and operational decisions?

FREYR Battery (FREY) An Overview of

FREYR Battery, now known as Norsepower, initially aimed to develop and produce high-density and low-cost battery cells in Norway. The company focused on utilizing clean, semi-industrialized environments with access to renewable energy. While the original vision involved establishing battery cell manufacturing facilities, recent developments indicate a shift in strategy following financial challenges and a revised business plan.

As of April 2025, it's crucial to note that FREYR Battery ASA has been renamed Norsepower ASA. This change reflects a strategic pivot towards wind propulsion technology for maritime vessels. The company's history includes aspirations to become a significant player in the battery cell market, but its current focus is on sustainable shipping solutions. For more detailed insights into the company's earlier financial health, you might find this resource helpful: Breaking Down FREYR Battery (FREY) Financial Health: Key Insights for Investors.

Given the company's transition, assessing its financial performance requires understanding both its past endeavors in battery technology and its current direction in wind propulsion. The latest financial reports would detail the investments, expenditures, and any revenue generated during the shift from battery production to wind technology. Keep an eye on Norsepower's official releases and financial news for the most current figures.

While FREYR initially aimed to be a leader in the battery industry, the strategic shift to Norsepower indicates a change in its competitive landscape. It is now focusing on wind propulsion technology. To understand why the company has taken this new direction, further information about its strategic review and market analysis would be beneficial.

FREYR Battery (FREY) Mission Statement

A mission statement is a concise explanation of an organization's reason for existence. It describes the company's purpose and its overall intention. The statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors, and other stakeholders.

As of April 2025, I don't have enough reliable information to provide the exact mission statement for FREYR Battery. Mission statements can evolve, and without a current, official source, any statement I provide would be speculative. For the most accurate information, please refer to FREYR Battery's official website or their latest corporate communications.

Here are key aspects typically found in a company's mission statement:

• Purpose: The core reason the company exists.
• Values: The fundamental beliefs that guide the company's actions.
• Goals: What the company aims to achieve in the short and long term.
• Stakeholders: Who the company serves (customers, employees, community, etc.).

Understanding a company's mission statement is crucial for investors and stakeholders. It provides insight into the company's strategic direction, values, and commitment to its goals. A well-crafted mission statement aligns with the company's actions and financial performance, offering a clear picture of its long-term potential. To get more insights about the company's financial standing, check this out: Breaking Down FREYR Battery (FREY) Financial Health: Key Insights for Investors

FREYR Battery (FREY) Vision Statement of

A vision statement outlines a company's aspirations for the future. It serves as a guiding star, inspiring and motivating employees while also informing stakeholders about the company's long-term goals. For a company like FREYR Battery, which operates in the rapidly evolving energy sector, a clear vision is crucial for attracting investment, fostering innovation, and establishing a leadership position.

FREYR Battery's vision is centered around contributing to a cleaner, more sustainable energy future through the development and production of high-quality, low-carbon battery solutions. As of April 2025, this vision encompasses several key areas:

Decarbonizing Energy and Transportation

FREYR's primary focus is to significantly reduce carbon emissions in both the energy and transportation sectors. This involves:

• Developing batteries that enable the widespread adoption of electric vehicles (EVs), reducing reliance on fossil fuels.
• Creating energy storage systems that support the integration of renewable energy sources like solar and wind power into the grid.
• Producing batteries with a significantly lower carbon footprint compared to conventional batteries.

In 2024, the transportation sector accounted for approximately 27% of total U.S. greenhouse gas emissions, while the electricity sector contributed about 25%. FREYR aims to address these significant sources of pollution through its battery technology.

Technological Leadership and Innovation

FREYR emphasizes continuous innovation and technological advancement to maintain a competitive edge. This includes:

• Investing in research and development to improve battery performance, energy density, and safety.
• Adopting next-generation battery technologies, such as solid-state batteries, to enhance product capabilities.
• Optimizing manufacturing processes to reduce costs and increase production efficiency.

As of 2024, FREYR is actively involved in developing and scaling up its 24/7 sustainable battery cell production. FREYR plans to use 100% renewable energy for its battery production.

Sustainable and Ethical Operations

Sustainability is a core tenet of FREYR's vision, extending beyond the environmental impact of its products to encompass ethical and responsible business practices. This includes:

• Sourcing raw materials responsibly, ensuring minimal environmental and social impact.
• Implementing closed-loop recycling processes to recover valuable materials from end-of-life batteries.
• Adhering to high standards of corporate governance and transparency.

FREYR aims to minimize the environmental impact of its operations and contribute to a circular economy. For example, FREYR is actively working to reduce carbon emissions in battery production by using renewable energy sources and implementing efficient manufacturing processes. FREYR has a stated goal to reach near-zero CO2 emissions for battery production by 2028.

Strategic Partnerships and Collaboration

FREYR recognizes the importance of collaboration in achieving its ambitious goals. This involves:

• Forging strategic partnerships with leading companies in the automotive, energy, and technology sectors.
• Working closely with research institutions and universities to advance battery technology.
• Engaging with policymakers and regulators to promote the adoption of sustainable energy solutions.

These collaborations enhance FREYR's capabilities and accelerate the development and deployment of its battery solutions.

In essence, FREYR Battery's vision is to be a leading provider of sustainable battery solutions, driving the transition to a cleaner and more electrified future. By focusing on decarbonization, innovation, sustainability, and collaboration, FREYR aims to create long-term value for its stakeholders and contribute to a healthier planet.

To gain more insights into FREYR Battery's background, mission, and operational strategies, explore: FREYR Battery (FREY): History, Ownership, Mission, How It Works & Makes Money

FREYR Battery (FREY) Core Values

While direct mentions of FREYR Battery's (FREY) core values are not explicitly detailed in the search results, we can infer their commitment to several key principles based on their actions and strategic focus. These inferred values include sustainability, innovation, collaboration, and integrity.

Sustainability

FREYR emphasizes sustainability through its commitment to producing environmentally friendly battery solutions. This is evident in their focus on reducing carbon emissions and waste throughout their production processes. While specific metrics for 2024 aren't available, their overarching goal is to minimize environmental impact and promote a circular economy. FREYR aims to achieve high sustainability standards in battery cell manufacturing by:

• Using renewable energy sources in their production facilities.
• Reducing water consumption and waste generation.
• Developing battery designs that are easily recyclable.

Innovation

Innovation is central to FREYR's strategy, focusing on developing next-generation battery technology. Their emphasis on continuous improvement and technological advancement is crucial for maintaining a competitive edge in the rapidly evolving battery market. FREYR's approach to innovation involves:

• Investing in research and development to improve battery performance and energy density.
• Exploring new materials and manufacturing processes to reduce costs and enhance sustainability.
• Collaborating with leading research institutions and industry partners to accelerate innovation.

Collaboration

FREYR fosters collaboration with various stakeholders, including suppliers, customers, and research institutions, to drive innovation and achieve shared goals. These collaborations are essential for building a robust and sustainable battery ecosystem. FREYR's collaborative efforts include:

• Partnering with raw material suppliers to ensure a secure and sustainable supply chain.
• Working closely with customers to develop customized battery solutions that meet their specific needs.
• Engaging with research institutions to advance battery technology and address industry challenges.

For example, FREYR has a partnership with Glencore for sustainable supply of raw materials. Glencore and FREYR announce long-term, sustainable and traceable supply of raw materials for battery production.

Integrity

FREYR demonstrates integrity through its commitment to ethical business practices, transparency, and accountability. This is reflected in their dedication to building trust with stakeholders and operating with the highest standards of corporate governance. FREYR upholds integrity by:

• Maintaining transparent communication with investors, customers, and employees.
• Adhering to strict environmental and social standards in their operations.
• Promoting a culture of ethical conduct and accountability throughout the organization.

Explore more about FREYR Battery in our investor profile: Exploring FREYR Battery (FREY) Investor Profile: Who’s Buying and Why?