The shares are listed on the NYSE

Davis Polk advised the underwriters in connection with a $264.5 million debut registered equity offering of 23,000,000 of FREYR Battery’s ordinary shares, which includes the full exercise of the underwriters’ option to purchase additional ordinary shares. The ordinary shares are listed on the New York Stock Exchange under the symbol “FREY.”

Headquartered in the Grand Duchy of Luxembourg, FREYR Battery is a development stage company that aims to provide industrial scale clean battery solutions to reduce global emissions. FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR became a publicly listed company last year through a business combination with Alussa Energy Acquisition Corp., a special purpose acquisition company (SPAC).

The Davis Polk capital markets team included partner Derek Dostal and associate Caroline G. Armstrong. The tax team included partner Mario J. Verdolini and associate Justin Corvino. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate Joshua Shirley. Counsel David A. Zilberberg provided environmental law advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.