Norwegian battery firm plans $2.6 billion plant in Georgia

Nov 11, 2022, 11:11 AM | Updated: 4:13 pm

ATLANTA (AP) — A Norwegian company will build a giant electric battery factory just southwest of Atlanta, company and state officials announced Friday, investing up to $2.6 billion over multiple phases.

Freyr Battery said it would build an initial plant that would produce batteries that could hold 34 gigawatt hours of electricity each year. Among battery plants currently operating, that would be the second-largest worldwide, behind a factory owned by Panasonic and Tesla in Nevada.

Freyr CEO Tom Jensen told attendees at the announcement in the Atlanta suburb of Newnan that the company’s vision of using renewable energy to make batteries could play an important role in reducing carbon emissions from electricity generation and transportation. The company’s initial plan is targeted toward storing electricity produced by renewable sources and releasing it later, but Jensen said sales to vehicle makers could also be included.

Jensen said battery production is a “massive growth opportunity,” predicting 70% of decarbonization efforts will somehow include batteries.

“We want to build something that matters, something that we can be proud of something that will matter for our children,” Jensen said. “Because at the end of the day, the world needs to rapidly decarbonize the society.”

The company said it plans an initial investment of $1.7 billion, and would hire 720 people at a site it has purchased in an industrial park near Newnan, about 35 miles (55 kilometers) southwest of Atlanta. Phases through 2029 involving $700 million of additional investment could include more production lines, material processing and other activities.

Employees are projected to make an average of $60,284 a year, said Molly Giddens of the Coweta County Development Authority.

Freyr, named for the Norse god of peace and fertility, rain, and sunshine, is also building a large factory in northern Norway and is planning a battery cell production facility in Vaasa, Finland.

The company aims to make batteries, an electricity-intensive process, using renewable energy. In Georgia, that could mean buying electricity from a dedicated solar facility with battery storage run by a third party, the company said.

Freyr said it looked at 130 sites in 25 states before selecting Georgia, citing the availability of engineers trained by Georgia Tech and other schools, job training, and proximity to Atlanta’s big airport, Savannah’s port, railroads and highways.

The company said it sees opportunities in the United States in part because of incentives for renewable energy passed by Congress earlier this year. Freyr said it intends to seek federal grants or loans.

In addition, the company said it is getting “strong” financial incentives from state and local officials in Georgia. The state plans to pay for worker training, and Freyr will eligible for up to $4.5 million in state income tax credits over five years, as long as workers make at least $31,300 a year. Coweta County will give property tax breaks for 20 years, Giddens said, not disclosing a projected value. She said the company would also get a “quality jobs creation grant.”

It’s the second huge battery factory announced in Georgia. Korean firm SK Innovation has built a $2.6 billion plant in Commerce, northeast of Atlanta, with plans to hire 2,600 workers eventually.

The state has targeted the electric vehicle industry. Hyundai Motor Group has announced plans to invest $5.5 billion in a plant near Savannah and hire 8,100 workers, also planning to make batteries there. Electric truck maker Rivian has plans to build a plant east of Atlanta, investing $5 billion and employing 7,500 workers.


Follow Jeff Amy on Twitter at

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


In this photo provided by Chad Fish, a large balloon drifts above the Atlantic Ocean, just off the ...
Associated Press

Not just balloons: How US sees China spying as major worry

WASHINGTON (AP) — The Chinese balloon that traversed the United States before being shot down last weekend captivated public attention and drew sharp denunciations as a brazen spying effort. But if the vehicle for espionage seemed novel, the concept was anything but. In ways that are far less public, but often more worrisome, U.S. officials […]
10 hours ago
FILE - Queen Margrethe attends the Danish Parliament's celebration of her 50th Regent's Anniversary...
Associated Press

Danish queen to undergo ‘major back surgery’

COPENHAGEN, Denmark (AP) — Denmark’s Queen Margrethe II, whose half-century reign makes her Europe’s longest-serving monarch, will undergo “major back surgery” later this month, the royal palace said Wednesday. The 82-year-monarch will be hospitalized afterward and undergo “a longer rehabilitation process,” the royal household said in a statement. “During a long period, Her Majesty has […]
10 hours ago
Associated Press

Blaze at US drone plant in Latvia; arson not suspected

HELSINKI (AP) — Firefighters worked for a second day Wednesday to fully extinguish a blaze at a U.S. company’s drone plant in Latvia, as police said no indications of sabotage have been found so far. Latvia’s State Fire and Rescue Service was alerted Tuesday afternoon that a fire had broken out at Edge Autonomy’s drone […]
10 hours ago
FILE - People walk past a Microsoft office in New York on Nov. 10, 2016.  (AP Photo/Swayne B. Hall,...
Associated Press

Microsoft’s Activision deal hurts gamers, UK watchdog says

LONDON (AP) — Microsoft’s stalled $68.7 billion deal to buy video game company Activision Blizzard has hit a fresh hurdle in the United Kingdom, where the antitrust watchdog said Wednesday that it will stifle competition and hurt gamers. Britain’s Competition and Markets Authority said its in-depth investigation found that the deal could strengthen Microsoft’s position […]
10 hours ago
FILE - The Container ship Cam Cgm Arctic (MT) is moored at Maersk APM Terminals Pacific, Pier 400, ...
Associated Press

Shipper Maersk reports most profitable year, warns of drop

COPENHAGEN, Denmark (AP) — The world’s biggest shipper, Denmark’s A.P. Moeller-Maersk, said Wednesday that 2022 was its most profitable year in “the history of the company” but warned that a plunge in container volumes and freight rates would lead to a drop in earnings this year. Full-year revenue increased by 32%, to $81.5 billion from […]
10 hours ago
Lindsay McDonald holds up a photo she took of an orb over central Montana that's believed to be a s...
Associated Press

US, states weigh farmland restrictions after Chinese balloon

HARLOWTON, Mont. (AP) — Near the banks of Montana’s Musselshell River, cattle rancher Michael Miller saw a large, white orb above the town of Harlowton last week, a day before U.S. officials revealed they were tracking a suspected Chinese spy balloon over the state. The balloon caused a stir in the 900-person town surrounded by […]
10 hours ago

Sponsored Articles

Day & Night Air Conditioning, Heating and Plumbing

Prep the plumbing in your home just in time for the holidays

With the holidays approaching, it's important to know when your home is in need of heating and plumbing updates before more guests start to come around.
(Desert Institute for Spine Care photo)...

Why DISC is world renowned for back and neck pain treatments

Fifty percent of Americans and 90% of people at least 50 years old have some level of degenerative disc disease.
Quantum Fiber

How high-speed fiber internet can improve everyday life

Quantum Fiber supplies unlimited data with speeds up to 940 mbps, enough to share 4K videos with coworkers 20 times faster than a cable.
Norwegian battery firm plans $2.6 billion plant in Georgia