FREYR Battery appoints Birger Steen to its Board of Directors as CEO alongside co-founder Tom Einar Jensen stepping to Executive Chairman

– NORWAY, Mo I Rana –  FREYR Battery (NYSE: FREY), a developer of clean, next-generation battery cell production capacity, today announced the appointment of Birger Steen to its Board of Directors as CEO effective respectively on August 9th and August 21st.

Mr. Steen brings more than 30 years of technology sector senior leadership and Board of Directors experience in roles at companies including Parallels, Inc., Microsoft Corp. (NASDAQ: MSFT), Schibsted ASA (OSE:), and McKinsey & Co.

Concurrently, Tom Einar Jensen, the Co-Founder and current CEO, has been appointed Executive Chair of the Board of Directors effective August 21st. He will work closely with the leadership team to drive key global corporate development initiatives, capital formation, and engagement with FREYR’s capital providers based on a customer-centric and partnership-oriented approach.

The company also announced that Founder Torstein Dale Sjøtveit has retired, effective August 9th.

Tom Einar Jensen, FREYR’s Co-founder and CEO, said “I am excited to open this next chapter at FREYR. With FREYR having now transitioned from an initial concept to a publicly traded manufacturer of next-generation batteries, this is the ideal time for us to focus on scaling our business by developing strategic alliances, securing commercial agreements, and engaging with our capital providers. As I prepare to assume the responsibilities of Executive Chair from Torstein, I feel deep gratitude for his dedicated stewardship of FREYR and his mentorship in our formational years. On behalf of FREYR’s investors, Board of Directors, leadership team, and employees, I wish to extend our heartfelt thanks for his contribution – we wish Torstein all the best in his retirement.”

Mr. Jensen added, “I am also very pleased to welcome Birger Steen to the role of CEO and as a Board member. Birger is an outstanding leader, and he brings more than 30 years of experience in scaling companies and deep expertise from the technology sector to FREYR. I look forward to us working closely together to ensure a smooth transition, and to collaborating on capital markets, global business development, and strategic initiatives in my new Executive Chair capacity.”

About Birger Steen

Before joining FREYR, Birger Steen was a Thematic Partner at Summa Equity. He is currently Board Chair at Nordic Semiconductor ASA and Pagero Group AB (publ.) and serves on the boards of Nordea Bank Abp, where he chairs the Operations and Sustainability Committee, and Pragmatic Semiconductor LLC. He was previously CEO of Parallels, Inc., WW VP of Distribution & SMB at Microsoft Corp, both in Seattle, VP and General Manager at Microsoft Russia, and GM at Microsoft Norge AS (subsidiaries of Microsoft Corp.). Before joining Microsoft, Mr. Steen was CEO at Scandinavia Online AS (publ.), a VP at Schibsted ASA, and a consultant at McKinsey & Co. He holds an MBA degree from INSEAD as well as degrees from the Norwegian Defense School of Intelligence & Security and Norwegian Institute of Technology.

About FREYR Battery

FREYR Battery aims to provide industrial-scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce clean battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway, and announced the potential development of industrial-scale battery cell production in the United States and Finland.

For more information:

- DisclaimerNews, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.