Norwegian battery developer FREYR Battery has entered the field of solar panel manufacturing after announcing its acquisition of Trina Solar's US manufacturing business.

FREYR has previously sought to serve the energy storage and electric vehicle markets and is currently seeking to establish a gigawatt battery plant in Cowetta County, Georgia. Now, the company will control Trina Solar's 5-gigawatt solar panel assembly plant in Wilmer, Texas, and pay $340 million to Trina Solar for its US manufacturing assets. FREYR detailed in an investor presentation that it is establishing an operational and intellectual property agreement between Trina Solar and FREYR.

The transaction is expected to be completed by the end of 2024, and FREYR will begin to focus on domestic battery manufacturing. FREYR is currently selecting a site and aims to commence construction in the second quarter of 2025. This battery device should be able to provide 1800 job opportunities and begin production in 2026.

We are pleased to announce this transformative transaction, which will immediately make the company one of the leading solar manufacturing companies in the United States, "said Daniel Barcelo, newly appointed CEO of FREYR. We are honored to collaborate with Trina Solar, a global leader in manufacturing and solar technology. Domestic solar and battery manufacturing capabilities are crucial for energy transition and job creation. The United States was once a global leader in the solar energy field and can become one again

FREYR stated that it has obtained US polycrystalline silicon supply through Hemlock for its final battery production, which establishes a platform for FREYR's US solar and battery storage strategy. The company also announced that it has terminated its battery technology license with 24M Technologies, but has not released further information about its potential Georgia battery factory.

After the completion of the Tianhe Solar transaction, employees who joined FREYR include Tianhe Solar employee Lin Mingxing as Chief Strategy Officer and Dave Gustafson as Chief Operating Officer.