T
T1 Energy
Transportation · Rana, Norway · Founded 2018 · Public via SPAC 2021
Formerly known as Freyr Battery | Developing a lithium ion battery facility and 600 MW onshore wind-park MoreLess
FREYR Battery is a startup that operates in the energy storage and electric vehicle (EV) sectors. The company specializes in the production of battery cells, primarily for EVs and energy storage systems (ESS). FREYR's business model is centered on leveraging advanced technology and a full Nordic supply chain to produce highly competitive battery cells at scale. The company's operations are based in the Mo i Rana industrial complex in Northern Norway, taking advantage of the region's skilled workforce and abundant, low-cost renewable energy supply.
FREYR's clients are likely to be manufacturers of EVs and ESS, who require high-quality, cost-effective battery cells. The company's competitive edge lies in its ability to surpass or match industry standards in cycle life, depth of discharge (DoD), round-trip efficiency (RTE), and levelized cost of storage (LCOS). In simpler terms, FREYR's batteries are designed to last longer, perform better, and be more cost-effective than other options on the market.
The company has recently achieved a significant milestone by successfully conducting automated cathode casting trials, an important step in the battery production process. FREYR is also planning to expand its operations to the United States, which could potentially increase its market reach and production capacity.
In terms of revenue, FREYR likely makes money by selling its battery cells to EV and ESS manufacturers. The company's commitment to sustainability and its ambitious growth plans suggest a strong potential for future profitability.
Keywords: Battery Cells, Electric Vehicles, Energy Storage Systems, Nordic Supply Chain, Renewable Energy, Sustainability, Automated Cathode Casting, Expansion, United States, Profitability.
Company overview
T1 Energy company information
The essential company record, classifications and operating signals in one place.
- Status
- Operational
- Founded
- 2018
- Headquarters
- Rana, Norway
- Employees
- 195
- Open positions
- None listed
- Dealroom signal
- 95.1
- Investment activity
- 2 companies · latest Jun 2026
- Capital deployed
- —
- Preferred round
- GROWTH EQUITY NON VC
Valuation & funding
T1 Energy funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| POST IPO EQUITYOther financing | May 2026 | $44M | — | Situational Awareness | ↗ |
| POST IPO CONVERTIBLEOther financing | Apr 2026 | $160M | — | Undisclosed | ↗ |
| POST IPO CONVERTIBLEOther financing | Dec 2025 | $140M | — | Undisclosed | ↗ |
| POST IPO EQUITYOther financing | Nov 2025 | $48M | — | Undisclosed | ↗ |
| GRANTOther financing | Oct 2024 | $134M | — | EU Innovation Fund | ↗ |
| GRANTOther financing | Jan 2024 | EU Innovation Fund | ↗ | ||
| GRANTOther financing | Jul 2023 | EU Innovation Fund | ↗ | ||
| POST IPO EQUITYOther financing | Dec 2022 | Undisclosed | ↗ | ||
| GRANTOther financing | Feb 2022 | Innovation Norway | — | ||
| SPAC PRIVATE PLACEMENTOther financing | Jul 2021 | Franklin Templeton Investments · Sylebra capital · Fidelity Investments · Koch Industries | — |
Financials
Revenue, earnings and profit over time
Reported history and available estimates. Estimated years are marked “E”; sparse fields are left blank rather than inferred.
| Year | Revenue | Growth | EBITDA | Margin |
|---|---|---|---|---|
| 2026 | $948M | +61.5% | $78M | 8.2% |
| 2025 | $587M | +19845.6% | −$65M | -11.1% |
| 2024 | $2.9M | — | −$48M | -1637.5% |
| 2023 | — | — | −$181M | — |
| 2022 | — | — | −$137M | — |
| 2021 | — | — | −$73M | — |
| 2020 | — | — | −$8.2M | — |
Growth signals
T1 Energy website traffic
Latest recorded traffic for T1 Energy is 93K monthly website visits, up 111.4% over the last three months. T1 Energy's team grew 16.1% over the past year.
Comparisons
T1 Energy compared with similar companies
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Capital deployed
T1 Energy investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
KORE PowerSt. John's, CanadaLeading developer of battery cell technology, delivering innovative energy storage and e-mobility solutions worldwide
$300Mvaluation
TALON PVHouston, United StatesHigh-efficiency TOPCon solar cell manufacturing and development
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Talent graph
T1 Energy's talent
Source: Dealroom Talent Intelligence.
Global footprint
Where T1 Energy has talent and traffic
team presence
In the news
Latest news about T1 Energy
Recent press, funding announcements, and product moves mentioning T1 Energy — open to read from the original sources.
Market sentiment
What the market is saying about T1 Energy
An AI-synthesized read of the highest-engagement posts about T1 Energy on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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