- FREYR Battery SA's (NYSE:FREY) first-quarter net loss widened to $(34.91) million from $(11.89) million a year ago.
- Loss from operations was $(27.6) million versus $(11.92) million in 1Q21.
- EPS loss narrowed to $(0.30) from $(0.32) last year, missing the consensus of $(0.14).
- As of March 31, 2022, FREYR held cash and equivalents of $524.6 million.
- FREYR is exploring capital formation solutions to finance giga-scale development with several global financial institutions and government entities in Norway, the U.S., and the EU.
- "With three new conditional customer offtake agreements signed in recent weeks and more in advanced stages of negotiations, visibility is building to accelerate development beyond our initial combined Gigafactory 1 & 2," commented CEO Tom Einar Jensen.
- Price Action: FREY shares are trading higher by 3.64% at $7.40 during the premarket session on Wednesday.
