February 20, 2025: Norway-based Freyr Battery has scrapped plans to build its ‘Giga America’ battery cells manufacturing plant at a site in the US state of Georgia.

The lithium battery firm revealed on February 10 that it had sold its Coweta County site to an undisclosed buyer for $50 million gross — just over two years after acquiring the 368-acre location.

Freyr’s net proceeds from the sale should be around $22 million after the repayment of grants it had previously received to develop the site, where it had proposed an initial first-phase capital cost of $1.7 billion.

The firm said it would instead focus on plans to ramp up solar and battery storage projects in the US.

Also on February 10, Freyr confirmed the selection of Austin in Texas for its new global HQ.

Chairman and CEO Daniel Barcelo did not comment on the scrapping of the Giga America site. He said the choice of Texas for the global HQ underpinned development of the firm’s solar and battery storage network in the US, including Freyr’s G1 solar module facility in Texas.