T1 Energy Inc.

Welcome to the Freya Battery Q4 2022 Earnings Conference Call. My name is Nadia and I'll be coordinating the call today. If you would like to ask a question at the end of the presentation, please press star followed by one on your telephone keypad. I will now hand over to your host, Jeffrey Spittel, Vice President of Investor Relations to begin. Jeffrey, please go ahead.

Good morning, good afternoon and good evening. Welcome to Freya Battery's fourth quarter and full year 2022 Earnings Conference Call. With me today on the call are Tom-Einar Jensen, our Chief Executive Officer, Jan Arve Haugen, our Chief Operating Officer, Oscar Brown, our Chief Financial Officer, and Jeremy Bezdek, Executive Vice President of Corporate Development and President of Frere Battery US. During today's call, management may make forward-looking statements about our business. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expectation. Most of these factors are outside FRER's control and are difficult to predict. Additional information about risk factors that could materially affect our business are available in FRER's S-1 and annual report on Form 10-K filed with the Securities and Exchange Commission, which are available on the investor relations section of our website. With that, I'll turn the call over to Tom.

Thank you, Jeff, and good morning, afternoon, or evening, wherever you might be. Again, a true honor and pleasure for us to present this fourth quarter and full year 2022 earnings call for Freyer Battery. This is our seventh earnings call since we went public on the New York Stock Exchange on July 8th, 2021. We will take you through all the notable updates since our last earnings call. I have to say that I'm amazed to see the company we have turned into since our humble beginnings back in 2018. The founders of the company had a dream of creating a sustainable battery solutions champion back then. Today, this dream is becoming a reality, as we announce moving from a PowerPoint company to a real battery company. 2022 has cemented our position as one of the few real emerging battery companies in the Western Hemisphere. Building a battery company from scratch is not at all easy, and we have lots of challenges ahead. Our industrial DNA, however, is based on a team with world-leading project execution and operational excellence skills, which thrive in solving problems. We have combined this painstakingly detail-oriented approach with world-leading battery experts and next-generation battery technology. Today, we are very proud to announce a fundamentally important next step in our journey of becoming a clean battery solutions provider and being an industrialization partner of choice in this exponentially booming battery industry. We now announce that we will open up our customer qualification plant in Moerama, Norway, four weeks from today. All equipment will be installed on site with robust testing completed and world-class preparations in place. This marks no less than the start of the gigawatt-hour scale era for the semi-solid technology platform, a true breakthrough for the battery industry. We have erected a gigawatt-hour scale production line of a nascent technology, which has not been trivial, but we have done it. Stay tuned for information on how to stream this event live We are, as previously said, coming to a theater near you. Let me start by focusing on some of the key highlights, which we will dive into more detail over the next 30 minutes or so. First of all, as previously stated, starting up the CQP this quarter is a fundamental milestone for Friday. The Semi-Solid platform is already in commercial production in Japan at triple-digit megawatt hourscape. The CQP platform is the first facility globally which will document the platform at gigawatt hourscape. At gigawatt-hour scale, this platform will be deeply competitive with conventional battery production. Live battery production is very hard, but we are ready for the challenges ahead. Secondly, we are yet again accelerating our efforts in the US and now announcing a target start of production in 2025. This is driven by the Inflation Reduction Act, which is the most significant climate bill since the climate summit in Paris in 2015. But the act is also meant to reduce energy inflation and Catalyze Regional Energy Security for the United States. It is also important to note that it's driving similar responses in Europe, and we are deep into processes with local stakeholders to capture such benefits as well. At the heart of all of this is the need to create localized supply chains for critical decarbonized energy infrastructure. Unfortunately, we have seen too many brutal examples that the Western Hemisphere cannot continue to rely as heavily as they do today on energy supply and materials from the Eastern Hemisphere. Finally, SEAD has now created real option value for our customers and supply chain partners. We see strong increase in interest across the entire value chain from globally leading companies wanting to partner with us. We have ongoing large opportunities under evaluation to expand into other technologies and other end markets. We ended 2022 with an as strong balance sheet as we started it and capital formation opportunities are very strong. We are truly becoming an industrialization partner of choice with world-leading companies. We would not have been in this position without a very strong industrial DNA. We possess world-leading project execution and operational excellence skills acquired over decades. This experience stems from the Norwegian energy, energy-intensive and process-intensive industries. With this, let me now hand it over to Jan-Marve Haugan, our Chief Operating Officer and President of Friar Battery Norway. to take you through the status of our operations in Norway.