Co-founding investors in FREYR and decorated
former U.S. government service officer bring decades of relevant
experience in institutional energy sector investing, public and
government affairs
FREYR Battery (NYSE: FREY) (“FREYR” or the “Company”), a
developer of clean, next-generation battery cell production
capacity, has appointed Todd Kantor, Tore Ivar Slettemoen, and
David Manners to the Company’s Board of Directors (“Board”)
effective immediately. The appointments are intended to fill
vacancies created by the departures of Mimi Berdal and Jason
Forcier, and to strengthen FREYR’s Board as the Company pursues its
key growth and capital formation initiatives.
“I am delighted to welcome Todd, Tore Ivar, and David to FREYR’s
Board of Directors,” commented Tom Einar Jensen, Co-Founder and
Executive Chairperson of FREYR. “Todd and Tore Ivar have been with
FREYR since the formative stages of our journey prior to becoming a
publicly traded company, and they have provided unwavering capital
support and thoughtful counsel throughout their time as cornerstone
investors in FREYR. Their appointments underscore our commitment to
long-term shareholder value creation as we advance our strategic
and capital formation initiatives.”
Mr. Jensen added, “The addition of David to our Board is also an
exciting development for us. David has distinguished himself as a
long serving leader in the public and private sectors, and his deep
expertise in geopolitics, public and government affairs will be
enormously valuable in today’s global energy markets.”
Todd Kantor is the Founder and Managing Member of Encompass
Capital Advisors, LLC. He has nearly 25 years of experience in the
global energy markets as a portfolio manager, analyst, trader, and
investment banker. Mr. Kantor, who launched Encompass Capital in
2012, manages an alpha-driven long/short equity strategy focused on
bottom-up fundamental analysis across the traditional energy and
renewables sectors. Prior to founding Encompass Capital, he was a
portfolio manager at Citadel LLC’s PioneerPath Capital platform.
Mr. Kantor has a B.B.A. degree from the Goizueta Business School at
Emory University.
“As the Managing Member of one of FREYR’s largest and longest
tenured investors, Encompass Capital Advisors LLC, I am thrilled to
be invited by FREYR’s team to join the Board with Tore Ivar and
David. I look forward to supporting the Company’s mission to
decarbonize the energy storage and transportation markets. FREYR
already has a strong foundation with a cash balance of $276 million
at year end 2023 and ownership of a strategic site in Georgia for
the Giga America project. With the unrealized option value of the
Giga Arctic project in Norway, the accelerating progress at the
CQP, and the prospects of consummating key commercial and strategic
transactions, I believe that FREYR is uniquely positioned to
generate meaningful long-term shareholder value.”
Tore Ivar Slettemoen is the Chairman of Teknovekst AS - Vanir,
an institutional investment fund focused on high-growth energy
transition investments. He developed the concept and founded FREYR
Battery, has worked extensively in project development across the
traditional and renewable energy sectors, and has deep experience
in scaling up and developing energy transition technology
companies. Mr. Slettemoen currently sits on the Boards of Directors
of Blastr Green Steel (private); Freija (private), a carbon-neutral
eLNG fuels company; and Vanir Green Industries (private). Mr.
Slettemoen holds an MSc degree in Mechanical Engineering from the
Norwegian University of Science and Technology, and an MBA from the
Kellogg School of Management at Northwestern University.
Mr. Slettemoen commented, “As a founding investor and long-term
shareholder in FREYR, I am confident that batteries will be a
cornerstone of the energy transition, which underpins FREYR’s
opportunity to establish a leading competitive position as a
U.S.-based battery technology industrialization partner of choice
in an industry that is undergoing exponential growth. As a
director, I look forward to contributing to FREYR’s commitment to
create long-term shareholder value.”
David Manners is the Founder and Owner of the Decapolis Group
LLC, an international consulting firm focused on global oil and gas
and renewable energy projects. Prior to founding the Decapolis
Group in 1999, he served for 20 years at the U.S. Central
Intelligence Agency (“CIA”), which included multiple tours abroad
and serving on two occasions as the CIA’s Chief of Station.
Separately, Mr. Manners has for many years provided analyses of
global affairs and risks to leading U.S. investment banks, hedge
funds, and private equity firms. Mr. Manners graduated with Merit
from the United States Naval Academy with a B.S. in European
Studies, and he holds an M.A. in Government from Georgetown
University.
“Batteries are a critical element of the accelerating energy
transition on the global stage, and the development of localized
supply chains and production capacity in the Western hemisphere are
fundamental to energy security, the acceleration of technical
knowhow, and other key geostrategic objectives,” commented David
Manners. “As an emerging battery producer, FREYR has a vital role
to play in the development of the nascent Western hemisphere
battery industry. I am excited about the opportunity to serve on
FREYR’s Board and to support such an important undertaking.”
FREYR also announced today that Jason Forcier and Mimi Berdal
each notified the Board of their intentions not to stand for
re-election as Board directors on April 14, 2024, and April 15,
2024, respectively. Mr. Forcier and Mrs. Berdal have subsequently
resigned as Board directors effective immediately.
“On behalf of FREYR’s Board of Directors, I wish to thank Mimi
and Jason for their valuable service to FREYR,” added Tom Einar
Jensen, Co-Founder and Executive Chairperson. “Both Mimi and Jason
brought deep industry and governance expertise to our Board, and we
wish them all the best in their future endeavors.”
About FREYR Battery
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 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. To learn more about FREYR, please visit
www.freyrbattery.com.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including without limitation with
respect to the Company’s operational performance and profitability.
These forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees,
but involve known and unknown risks, uncertainties and other
important factors that may cause actual future events, results or
achievements to be materially different from the Company’s
expectations and projections expressed or implied by the
forward-looking statements. Important factors include, but are not
limited to, actions of activist stockholders and those discussed
under the caption “Risk Factors” in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2023 (the “Form 10-K”)
and the Company’s other filings with the SEC. Forward-looking
statements speak only as of the date of this press release and are
based on information available to the Company as of the date of
this press release, and the Company assumes no obligation to update
such forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Important Additional Information and Where to Find It
FREYR plans to file proxy materials with the SEC in connection
with the solicitation of proxies for the 2024 Annual Meeting. Prior
to the 2024 Annual Meeting, the Company will file a definitive
proxy statement (the “Proxy Statement”) together with a proxy card.
STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY
AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS
THAT FREYR WILL FILE WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY
WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. Stockholders will be able to obtain, free of charge,
copies of the Proxy Statement, any amendments or supplements
thereto and any other documents (including the proxy card) when
filed by the Company with the SEC in connection with the 2024
Annual Meeting at the SEC’s website (http://www.sec.gov) or at the
Company’s website https://ir.freyrbattery.com/overview/default.aspx
or by contacting Investor Relations by phone at (+1) 409-599-5706,
by email at jeffrey.spittel@freyrbattery.com.
Certain Information Regarding Participants
The Company, its directors and certain of its executive officers
and other employees may be deemed to be participants in the
solicitation of proxies from shareholders in connection with the
2024 Annual Meeting. Additional information regarding the identity
of these potential participants, none of whom, other than Mr.
Slettemoen and Mr. Kantor (through his affiliate entity, Encompass
Capital Advisors LLC), owns in excess of one percent (1%) of the
Company’s shares and their direct or indirect interests, by
security holdings or otherwise, will be set forth in the Proxy
Statement and other materials to be filed with the SEC in
connection with the 2024 Annual Meeting. To the extent holdings of
the Company’s securities by such potential participants (or the
identity of such participants) change such information has been or
will be reflected on Statements of Change in Ownership on Forms 3
and 4 filed with the SEC. You may obtain free copies of these
documents using the sources indicated above.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240419994115/en/
Investor contact: Jeffrey Spittel Vice President,
Investor Relations jeffrey.spittel@freyrbattery.com Tel:
(+1) 409 599-5706
Media contact: Amy Jaick Global Head of Communications
amy.jaick@freyrbattery.com Tel: (+1) 973 713-5585
Grafico Azioni FREYR Battery (NYSE:FREY)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni FREYR Battery (NYSE:FREY)
Storico
Da Dic 2023 a Dic 2024
