Alussa Energy Acquisition Corp (ALUS) Quote

ALUS now trading as FREY

If this ever gets to 14 I'm done with it

There is something very wrong with this

VW targeting 6 battery plants in Europe, one would think alus would be one of them.

This market can't make up its mind, should recover from here just never imagined they would take her down to nav

$10 flat. Valued at baseline worthless SPAC.

Wtf is going on ALUS has so much going for it???

How embarrassing

How is this not $15+ is beyond me...

And he still owns it.

On my watch list

Need to take a closer look under the hood...

futr

Steve Grasso says buy ALUS
https://markets.businessinsider.com/news/stocks/fast-money-picks-for-february-8-1030051372

Wtf?

Weeeeee

Freyr SPAC Merger: 14 Things for ALUS Stock Investors to Know About the Clean Battery Play
The deal closes in Q2 2021
By William White, InvestorPlace Writer Jan 29, 2021, 11:38 am EST
Freyr is planning to go public via a merger with special purpose acquisition company (SPAC) Alussa Energy Acquisition (NYSE:ALUS) and shares of ALUS stock are on the rise Friday.

two businessmen shaking hands with peers at their side
Source: Shutterstock
Here’s everything potential ALUS stock investors need to know about Freyr ahead of its SPAC merger.

Freyr is a clean battery company with plans to expand its business with higher production.
That includes reaching 43 GWh of battery cell production by 2025.
Doing so would make it one of the largest battery cell suppliers in Europe.
It plans to locate its battery production facilities in Northern Norway to take advantage of its clean energy sources.
The company says that it will create batteries for use in electric vehicles (EVs), as well as for energy storage and marine applications.
Today’s news notes that the combined company from the Freyr and Alussa Energy SPAC merger would have a value of $1.4 billion.
The SPAC merger will provide Freyr with $850 million in net proceeds.
$600 million of this comes from a private investment in public equity (PIPE).
Once the merger is complete, current Freyr shareholders will own 30% of the combined company.
When the deal closes, the new company will operate under the name Freyr Battery.
This will also see shares of ALUS stock change to the FREY stock ticker.
The merger is expected to close in the second quarter of 2021
ALUS stock is seeing heavy trading on the news with some 8 million shares having changed hands as of this writing.
The stock’s daily average trading volume is only about 112,000 shares.

Freyr Battery Company Gets NOK 7.3 billion and will List on New York Stock Exchange

Freyr merges and gets listed on the New York Stock Exchange. From the left; Hege Marie Norheim, Ryuta Kawaguchi, Torstein Dale Sjøtveit, Tom Einar Jensen, Tove Nilsen Ljungquist. (Photo: Freyr)
Published at: Jan 29 2021 - 13:26 / Updated at: Jan 29 2021 - 13:26
Freyr plans for large-scale battery cell production in Northern Norway. The company expects to create up to 1,500 new jobs over the next four to five years, most of these in the Helgeland region.

TEXT
PETER B. DANILOV
Freyr has signed agreements securing NOK 7.3 billion in new equity, according to a company notification Friday.

Freyr plans to start producing battery cells in Mo i Rana, Northern Norway, with an annual capacity of up to 43 GWh by 2025.

Investors include Koch Strategic Platforms, Glencore, Fidelity Management & Research Company LLC, Franklin Templeton, Sylebra Capital and Van Eck Associates Corporation.

Broad support
“We have found broad support from politicians, business organisations and the Norwegian tech community on local and national levels ever since we started Freyr in2 018. Along with our partners Innovation Norway, Helgeland Invest, SINTEF, NTNU, Rana municipality, as well as other local and regional actors, Freyr has gone from being on the drawing board to now becoming a reality thanks to the support from international investors", says Torstein Dale Sjøtveit, founder and working chairman of Freyr.

He adds:

“We look forward to entering into delivery agreements with customers and starting up production of the world’s cleanest and most cost-efficient batteries. In our opinion, this represents the best opportunity for development of sustainable and profitable Norwegian renewable industry for the next decade.”

Freyr Battery
The transaction itself is conducted through Freyr merging with Alussa Energy Acquisition Corp. 100 percent of existing Freyr shares will be transferred to the merged and listed company.

Freyr believes the merged company will have an equity value of NOK 12 billion. The company, listed on the New York Stock Exchange, will be called “Freyr Battery”.

“We have considered more than 75 different investment opportunities in the energy and energy transition sector since the company was listed by the end of 2019, and Freyr stood out as a leading actor, ready to implement next generation battery technology to meet a significant and growing demand in markets in the most sustainable way possible”, says Daniel Barcelo, CEO, President and Board Member of Alussa Energy.



This article was originally published in Norwegian

website to learn about the battery technology> https://www.freyrbattery.com/

Pretty interesting, know a lot about the people behind this, could be a great investment

Investor Presentation...

https://www.sec.gov/Archives/edgar/data/1781115/000121390021005350/ea134234ex99-2_alussaenergy.htm

ALUS and Freyr Battery Business Combination...

FREYR, a Developer of Clean, Next-Generation Battery Cells, to List on NYSE Through a Business Combination with Alussa Energy Acquisition Corp.
FRI, JAN 29, 2021 08:01 CET

FREYR has entered into a definitive business combination agreement with Alussa Energy Acquisition Corp. (NYSE: ALUS); upon closing, the combined company will be renamed “FREYR Battery” and be listed on the New York Stock Exchange under the new ticker symbol “FREY”
FREYR’s mission is to accelerate the decarbonization of transportation and energy systems by delivering the world’s cleanest and most cost-effective batteries
FREYR is expected to receive approximately $850 million in equity proceeds as a part of the business combination, enabling the company to accelerate the development of up to 43 GWh of clean battery cell manufacturing capacity in Norway by 2025
Transaction includes a $600 million fully committed Private Investment in Public Equity (“PIPE”) anchored by strategic and institutional investors, including Koch Strategic Platforms, Glencore, Fidelity Management & Research Company LLC, Franklin Templeton, Sylebra Capital and Van Eck Associates Corporation
100% of FREYR’s existing shares will roll over into in the combined company
Pro forma equity value of the combined company would be approximately $1.4 billion
NEW YORK, NY and OSLO, Norway, January 29, 2021 -- FREYR AS, (the “Company” or “FREYR”), a Norway-based developer of clean, next-generation battery cell production capacity, today announced that it will become a publicly listed company through a business combination with Alussa Energy Acquisition Corp. (“Alussa Energy”) (NYSE: ALUS), a Cayman Islands exempted, publicly listed special purpose acquisition company (“SPAC”). The transaction represents a pro forma equity value of $1.4 billion for the combined company upon closing which will be named “FREYR Battery” (“Pubco”). Pubco’s common stock is expected to start trading on the New York Stock Exchange under the ticker symbol FREY upon closing, expected in the second quarter of 2021.

FREYR is targeting development of up to 43 GWh of battery cell production capacity in Norway by 2025 to position the Company as one of Europe’s largest battery cell suppliers. FREYR expects to deliver safer, higher energy density and lower cost clean battery cells made with renewable energy from an ethically and sustainably sourced supply chain. The Company’s ambition is to become the battery cell producer with the lowest lifecycle carbon footprint in the world. FREYR plans to utilize Norway’s inherent advantages, including access to renewable energy, some of Europe’s lowest electricity prices and shorter delivery distances to main markets in Europe and the US as compared to competitors in Asia.

The Company is partnering strategically on next-generation semi-solid battery cell technology that is expected to materially reduce manufacturing costs and provide a highly competitive market position for FREYR. The Company’s solutions will address the rapidly growing global markets for electric vehicles, energy storage, and marine applications, representing an estimated addressable market of about 5,000 GWh per year by 2030.

Daniel Barcelo, Chief Executive Officer and Founder of Alussa Energy, commented, “We are excited and privileged to partner with FREYR, as this transaction represents a compelling investment opportunity to address the rapidly growing market for electrification of global transportation and energy systems. Furthermore, Norway with its entrepreneurial cities like Mo i Rana provide a great foundation for FREYR’s Gigafactories. We evaluated over 75 investment opportunities across the global energy and energy transition sectors since our IPO in late 2019, and FREYR clearly stood out as a frontline player in adopting leading-edge battery technology to address a significant and growing market with a unique commitment to full-cycle sustainability. We have full confidence that FREYR’s experienced execution team, combined with the capital resources from this transaction, including strategic investors Koch Strategic Platforms and Glencore, makes the Company well-positioned to play a transformational role in decarbonizing global energy and transportation markets.”

Tom Jensen, Chief Executive Officer of FREYR, said, “We believe the combination of foundational capital from committed investors with commercially available, advanced battery solutions is the fastest way to accelerate the energy transition. FREYR is dedicated to delivering one of the most sustainable and cost-effective clean battery cells based on 100% renewable energy and ethically sourced raw materials. We are truly excited to share our ambition with Alussa Energy and some of the leading international investors as we embark on our plan for the production of one of the most environmentally friendly battery cells in the world. We believe our partnership-based business model positions FREYR to accelerate long-term value creation by targeting sustainable, superior returns to our shareholders and stakeholders.”

Torstein Dale Sjøtveit, Founder and Executive Chairman of FREYR, continued, “FREYR has attracted a diversified and experienced team, partners and initial customers in a short period of time. The capital raise and NYSE listing add further momentum to our progress and positions us as a catalyst for European battery cell production and the Nordic battery ecosystem. We see this transaction as a strong confirmation of FREYR’s growth potential enabled by cutting-edge technology and access to clean renewable energy. Moving ahead, FREYR will focus on executing our project plans, attracting more talent, cultivating partnerships and providing our customers with sustainable and cost-effective clean battery cells.”

Todd Kantor, Portfolio Manager of Encompass Capital Advisors LLC, a Member of Alussa Energy’s Sponsor, added, “As a hedge fund primarily focused on investing across the energy eco-chain, we view FREYR as one of the most exciting investment opportunities in the energy transition movement, particularly given the Company’s potential to deliver innovative electrification solutions through a sustainable and clean platform.”

Transaction Overview

The business combination values the combined company at an implied $1.4 billion pro forma equity value. The transaction will provide an estimated $850 million of net proceeds to the Company, assuming no redemptions by Alussa Energy shareholders, including a $600 million fully committed PIPE at $10.00 per share of the Company anchored by strategic and institutional investors, including Koch Strategic Platforms, Glencore, Fidelity Management & Research Company LLC, Franklin Templeton, Sylebra Capital and Van Eck Associates Corporation. 100% of FREYR’s existing shares will roll over into the combined company.

The transaction implies an equity value of FREYR of approximately $410 million. Current FREYR shareholders (fully diluted) are expected to own approximately 30% of the combined company after transaction close, representing an exchange ratio of approximately 0.179031 of shares of the combined company for each share of FREYR based on the currently available information and assuming a $600 million PIPE.

The boards of directors of both Alussa Energy and FREYR have approved the proposed business combination, which is expected to be completed in the second quarter of 2021, subject to, among other things, the approval by Alussa Energy’s and FREYR’s shareholders and satisfaction or waiver of other customary conditions set forth in the definitive documentation.

Additional information about the proposed transactions contemplated by the business combination agreement (the “Transaction”), including a copy of the business combination agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by Alussa Energy with the Securities and Exchange Commission (“SEC”) and available at www.sec.gov.

Advisors

Credit Suisse Securities (USA) LLC acted as the equity capital markets advisor to Alussa Energy. Credit Suisse Securities (USA) LLC, BTIG, LLC and BTIG Norway AS acted as the financial advisors to Alussa Energy. Skadden Arps, Slate, Meagher & Flom LLP served as M&A legal counsel to Alussa Energy, Ellenoff Grossman & Schole LLP served as securities counsel to Alussa Energy, Wiersholm AS served as Norwegian counsel to Alussa Energy, and Appleby (Cayman) Ltd served as Cayman Islands legal counsel to Alussa Energy. Rystad Energy and Sustainable Governance Partners acted as business and environmental, social and governance advisors, respectively, to Alussa Energy. Kite Hill PR LLC acted as the public relations advisor to Alussa Energy.

Wilson Sonsini Goodrich & Rosati P.C. served as U.S. legal counsel to FREYR, and Advokatfirmaet BAHR AS, served as Norwegian legal counsel to FREYR. Crux Advisers AS acted as investor relations and communications adviser to FREYR.

Credit Suisse Securities (USA) LLC, BTIG, LLC and Pareto Securities AS served as placement agents for the PIPE financing. Davis Polk & Wardwell LLP served as legal counsel to the placement agents.

Investor Webcast / Conference Call Information

FREYR and Alussa Energy will host a joint investor conference call to discuss the proposed business combination today, Friday, January 29, 2021 at 8:00 EST/14:00 CET.

To follow the conference call via webcast, please use this link:

https://streams.eventcdn.net/freyer/investor-conference-call/

To listen to the prepared remarks via telephone, please dial
US: +1-833-350-1443
NO: +47 23 96 63 25
Conference ID: 4357642

About FREYR A/S

FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 to position the company as one of Europe’s largest battery cell suppliers. The facilities will be located in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear and energized environment. FREYR will supply safe, high energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, and marine applications. FREYR is committed to supporting cluster-based R&D initiatives and the development of an international ecosystem of scientific, commercial, and financial stakeholders to support the expansion of the battery value chain in our region. For more information, please visit www.freyrbattery.com.

About Alussa Energy Acquisition Corp.

Alussa Energy is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While Alussa Energy may pursue an acquisition opportunity in any industry or sector, Alussa Energy intends to focus on businesses across the entire global energy supply chain. For more information, please visit www.alussaenergy.com.

https://news.cision.com/freyr/r/freyr--a-developer-of-clean--next-generation-battery-cells--to-list-on-nyse-through-a-business-combi,c3276093