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Benzinga
Benzinga
Business
Akanksha Bakshi

FREYR Stock Jumps On Battery Cell Collaboration With Honeywell

FREY (Organization) HON FREYR Honeywell Honeywell International Inc NYSE
  • Honeywell International Inc (NASDAQ:HON) and FREYR Battery SA (NYSE:FREY) have inked an agreement to deploy energy storage solutions via next-generation battery cells.
  • As part of the collaboration, Honeywell will purchase 19 GWh of battery cells produced by FREYR from 2023 through 2030 for a multitude of energy storage systems applications. Financial terms not disclosed.
  • FREYR will leverage Honeywell's technology offerings, including integrated automation, field instrumentation, and security integration solutions in their manufacturing process.
  • Honeywell and FREYR intend to provide smart energy storage solutions to address the needs of a wide range of commercial and industrial customers alike.
  • Price Action: HON shares closed lower by 1.87% at $213.59 on Tuesday, and FREY is trading higher by 10.3% at $9.54 in premarket on the last check Wednesday.
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