FREYR Battery pops after announcing battery cell collaboration with Honeywell
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FREYR Battery (NYSE:FREY) inks a deal to sell 19 GWh worth of battery cells produced to Honeywell (NASDAQ:HON) for a multitude of energy storage systems applications. The deal will run from 2023 to 2030.
Honeywell and FREYR plan to address the needs of a wide range of commercial and industrial customers through the collaboration. Subject to viability, FREYR (FREY) will leverage Honeywell's (HON) broad automation and software expertise including automation systems, quality assurance and controls, and industrial software to provide manufacturing capacity at scale in Europe and the U.S.

"Battery storage will play a crucial role as organizations transition to clean power generation," notes FREYR CEO Tom Einar Jensen.
Shares of FREY are up 8.79% in premarket action.
FREYR is one of Morgan Stanley's top auto sector stocks for 2022.