REG - Mpac Group PLC - Mpac signs FREYR framework agreement

MPACAnnouncement

15/09/2022 13:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220915:nRSO6389Za&default-theme=true

RNS Number : 6389Z  Mpac Group PLC  15 September 2022

 

 

 

 

 

 

 

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018

 

 

15 September 2022

 

Mpac Group plc

('Mpac')

 

Mpac signs framework agreement with FREYR for the supply of automated cell
assembly equipment

 

Mpac Group plc, a global leader in high-speed packaging and automation
solutions, announces that it has signed a framework agreement with FREYR
Battery ("FREYR"), for an initial three-year period, for the exclusive supply
of the casting and unit cell assembly equipment to the battery cell production
line at FREYR's Giga Arctic factory in Norway.

 

FREYR is a developer of clean, next-generation battery cell production
capacity, incorporating 24M Technologies (''24M'') SemiSolid lithium-ion
battery platform technology. Mpac was prequalified to participate in the
competitive tender for the framework agreement following several years of
cooperation with 24M on industrialising and scaling battery cell assembly.
Mpac will leverage 24M's innovative battery casting technology and in-house
expertise and experience in automation and mass production systems to
construct and install the equipment.

 

Previously Mpac was awarded the contract to design and build the development
line for FREYR's Customer Qualification Plant (CQP) in July 2021 and this
project remains on schedule for shipment in December 2022.

 

 

Tony Steels, Chief Executive at Mpac Group plc, commented:

 

"We have worked closely and effectively with FREYR since being awarded the
contract for the development line and I am delighted that our partnership with
FREYR has developed into the award of an exclusive agreement to build the
first series of production lines for their Gigafactory in Mo I Rana, Norway.
I am excited about the opportunity to establish Mpac as a market leading
provider of automation equipment to the clean energy sector and to support
FREYR in achieving their ambitious growth plans for a more sustainable
future."

 

Einar Kilde, Executive VP Project Execution FREYR, commented:

 

"Mpac has a proven track record in delivering complex industrial machinery,
and after careful assessment, we believe that they have the best technical
solution for our Giga Arctic project," says Einar Kilde, EVP Project
Execution, FREYR. "Our collaboration began with our CQP, where we learned that
our two companies are well-aligned in our ambitions for speed and scale in
producing clean and sustainable battery solutions."

 

 

 

 

 

For further information, please contact:

                                                 Tel: +44(0)24 7642 1100

 Mpac Group plc

 Tony Steels, Chief Executive

 Will Wilkins, Group Finance Director
 Shore Capital (Nominated Adviser & Broker)      Tel: +44(0)20 7408 4050

 Advisory

 Patrick Castle

 Iain Sexton

 Broking

 Henry Willcocks

 Hudson Sandler                                  Tel: +44(0)20 7796 4133

 Nick Lyon

 Nick Moore

 

 

About Mpac Group

Mpac Group plc is a global leader in high-speed packaging and automation
solutions. The Company serves blue chip customers throughout the world in the
essential and growing sectors of clean energy, food and beverage,
pharmaceutical and healthcare. Headquartered in the UK, the Company has
strategically located manufacturing and service locations in North America,
Europe and Asia to provide customers with local support for all its product
lines: Lambert, Langen, Switchback and Cube.

 

About FREYR Battery

FREYR Battery aims to provide industrial scale clean battery solutions to
reduce global emissions. Listed on the New York Stock Exchange, FREYR's
mission is to produce green battery cells to accelerate the decarbonization of
energy and transportation systems globally. FREYR has commenced building the
first of its planned factories in Mo i Rana, Norway and announced potential
development of industrial scale battery cell production in Vaasa, Finland, and
the United States. FREYR intends to deliver a minimum of 50 GWh of battery
cell capacity by 2025, over 100 GWh of annual capacity by 2028, and over 200
GWh of annual capacity by 2030. To learn more about FREYR, please visit
www.freyrbattery.com.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCLAMBTMTIBBPT