FREYR Battery Establishes New Global Headquarters in Austin, Texas
FREYR Battery has officially announced that it has chosen Austin, Texas, as the site for its new global headquarters. This strategic decision aligns with the Company’s long-term vision of establishing a strong operational presence in the United States while advancing its mission to support the growth of domestic solar module manufacturing. By relocating its headquarters to Austin, FREYR aims to geographically align its workforce with its expanding operations and reinforce its commitment to innovation in renewable energy.
Strategic Move to Austin, Texas
The selection of Austin as FREYR’s global headquarters is a significant milestone in the Company’s growth trajectory. Austin’s reputation as a dynamic and business-friendly city, combined with its thriving technology sector and renewable energy ecosystem, makes it an ideal location for FREYR’s corporate development.
FREYR’s new headquarters will be situated at 1211 E 4th St., Austin, TX 78746, placing the company in a prime location that fosters collaboration with key industry partners, governmental agencies, and research institutions. The move also complements the ongoing ramp-up of production at FREYR’s G1 solar module facility in Wilmer, Texas, which has already created over 1,000 jobs across the Wilmer and Dallas communities.
“Today marks another important step for FREYR as we execute our strategic plan to establish an integrated U.S. solar + battery storage manufacturing enterprise built on advanced technology,” said Daniel Barcelo, Chairman of the Board and Chief Executive Officer of FREYR. “Our global headquarters will be in Austin, Texas, which is a vibrant and fast-growing hub of renewable energy and advanced technology development, strategically located close to our operations.
As we move forward with our strategy to build an integrated American solar + storage manufacturing network, we intend to bring more than 1,000 new American jobs to the Texas economy. We look forward to building our teams in Austin and Wilmer, establishing a Texas job creation engine, and working with our partners across industry and government to invest in critical U.S. infrastructure.”
Austin: A Hub for Innovation and Talent
Austin has rapidly emerged as a leading hub for innovation in clean energy, technology, and manufacturing. The city’s pro-business environment, coupled with a highly skilled workforce, makes it an attractive destination for companies like FREYR that are looking to drive advancements in renewable energy solutions.
The Company believes that establishing its headquarters in Austin will provide access to an expansive talent pool, facilitating recruitment efforts as it continues to expand its operations. Furthermore, being in close proximity to its Wilmer facility allows FREYR to streamline logistical and operational efficiencies, enhancing its ability to meet the growing demand for domestically manufactured solar modules and energy storage solutions.
Commitment to U.S. Manufacturing and Job Creation
FREYR’s investment in Texas underscores its commitment to strengthening U.S. manufacturing capabilities and fostering economic growth. The Company’s integrated approach to solar module and energy storage manufacturing aims to support the nation’s transition toward a more sustainable and energy-independent future.
With over 1,000 employees already contributing to operations in Wilmer, the establishment of the Austin headquarters will further solidify FREYR’s presence in the region. The Company plans to create additional high-quality jobs in engineering, research and development, operations, and corporate functions, contributing to the state’s thriving clean energy sector.
Sale of Coweta County Site in Georgia
As part of its strategic realignment, FREYR has also announced the sale of its 368-acre site in Coweta County, Georgia. The Company has entered into a definitive agreement to sell the property to an undisclosed buyer for gross sales proceeds of $50 million.
The transaction is expected to be finalized on February 15, 2024, with estimated net proceeds of $22.5 million after accounting for the repayment of state and local grants previously received. The decision to divest the Georgia site aligns with FREYR’s renewed focus on Texas as the central hub for its U.S. operations and future growth.
FREYR’s move to Austin represents a pivotal moment in its journey toward becoming a leader in sustainable energy solutions. By positioning itself at the heart of one of the nation’s fastest-growing innovation hubs, the Company is well-equipped to accelerate its growth, enhance its technological capabilities, and contribute to the ongoing expansion of domestic solar and energy storage manufacturing.
As FREYR continues to build its integrated solar and battery storage manufacturing network, it remains committed to working closely with industry stakeholders, policymakers, and local communities to drive meaningful progress in the renewable energy landscape. The Company’s investment in Texas not only reinforces its operational strategy but also underscores its dedication to supporting the nation’s clean energy transition through job creation, technological innovation, and sustainable manufacturing practices.
With its new headquarters in Austin and a strong manufacturing presence in Wilmer, FREYR is well-positioned to lead the charge in advancing America’s renewable energy infrastructure for years to come.
