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LevertonHELM and FREYR sign MoU for the supply of Lithium Carbonate and Hydroxide in the Nordics

HELM AG (“HELM”) welcomes a new potential partnership of its subsidiary LevertonHELM with FREYR, an emerging producer of clean battery solutions from Norway. The parties have signed a Memorandum of Understanding, agreeing to jointly explore and develop agreements for the supply of lithium chemicals to FREYR’s cathode and lithium-ion battery cell operations in the Nordic region

Janneke Menzel

Janneke Menzel

Manager External Communication

Janneke.Menzel@helmag.com Business Card

Hamburg, May 6, 2024

The timing of expansion aligns at both companies and the parties agreed to discuss supply volumes of up to 5,000 tonnes per annum with a duration of minimum 5 years. LevertonHELM agreed to discuss the use of FREYR`s sourced lithium chemicals for further refining as part of its supply to FREYR.

LevertonHELM and FREYR will work together to understand the carbon impact of the Lithium Carbonate and Lithium Hydroxide produced by LevertonHELM and outline high level plans for reductions over time.

The agreement is an important step for HELM to further strengthen its presence and participation in the lithium-ion battery supply chain. “We look highly forward to the next steps of deepening our collaboration with FREYR by focusing on the energy storage, automotive industries and beyond, providing LevertonHELM’s expertise and experience of over 40 years in the European market”, says Stephen Elgueta Wallis, Vice President Energy Materials at HELM.

“FREYR is excited and privileged to partner with LevertonHelm, a highly experienced, respected and expanding European lithium refining company. We look forward to collaborating to ensure a European supply chain for this critical mineral”, says Dr Tilo Hauke, Executive Vice President, Supply Chain, FREYR.

FREYR Battery is a developer of clean, next-generation battery cell production capacity. The Company’s mission is to accelerate the decarbonization of global energy and transportation systems by producing clean, cost-competitive batteries. FREYR seeks to serve the primary markets of energy storage systems (“ESS”) and commercial mobility, and the Company maintains an ambition to serve the passenger electric vehicles market (“EV”). FREYR is commissioning and operating its Customer Qualification Plant (“CQP”) for technology development in Mo i Rana, Norway, and the Company is commencing development of the Giga America battery manufacturing project in Coweta County, Georgia, in the U.S.

About HELM
HELM is a Hamburg, Germany, based family-owned company established in 1900. With up to 100 subsidiaries and participations in more than 30 countries, HELM is one of the largest independent chemical companies worldwide. HELM is committed to providing solutions that help its partners to tackle the reduction of CO2 emissions and the loss of biodiversity. Through its global presence, the company also strives to create positive impact in local societies around the world. HELM’s partnerships in Lithium, bio-based BDO, and digital tools supporting an efficient agriculture are recent examples, which support that goal. HELM is active in the chemicals and energy materials industry as well as agriculture and pharmaceuticals.