{"version":"1.0.0","segments":[{"speaker":"Tom Jensen","startTime":3.605,"endTime":10.125,"body":"We need to cut CO2 emissions"},{"speaker":"Tom Jensen","startTime":3.605,"endTime":10.125,"body":"by 50% by the end of this decade i.e."},{"speaker":"Tom Jensen","startTime":10.175,"endTime":11.565,"body":"In less than eight years."},{"speaker":"Tom Jensen","startTime":12.595,"endTime":16.43,"body":"And it's impossible without massive"},{"speaker":"Tom Jensen","startTime":12.595,"endTime":16.43,"body":"scale up of renewable energy."},{"speaker":"Tom Jensen","startTime":16.97,"endTime":19.88,"body":"And with massive scale up of"},{"speaker":"Tom Jensen","startTime":16.97,"endTime":19.88,"body":"renewable energy, you need massive"},{"speaker":"Tom Jensen","startTime":19.88,"endTime":22.04,"body":"storage solutions to balance out that"},{"speaker":"Tom Raftery","startTime":22.61,"endTime":24.77,"body":"Good morning, good"},{"speaker":"Tom Raftery","startTime":22.61,"endTime":24.77,"body":"afternoon, or good evening,"},{"speaker":"Tom Raftery","startTime":24.77,"endTime":26.09,"body":"wherever you are in the world."},{"speaker":"Tom Raftery","startTime":26.33,"endTime":28.49,"body":"This is the climate 21 podcast."},{"speaker":"Tom Raftery","startTime":28.73,"endTime":32.12,"body":"The number one podcast, showcasing best"},{"speaker":"Tom Raftery","startTime":28.73,"endTime":32.12,"body":"practices in climate emission reductions."},{"speaker":"Tom Raftery","startTime":33.08,"endTime":34.93,"body":"And I'm your host, Tom Raftery."},{"speaker":"Tom Raftery","startTime":35.57,"endTime":39.35,"body":"Don't forget to click follow on this"},{"speaker":"Tom Raftery","startTime":35.57,"endTime":39.35,"body":"podcast in your podcast app of choice,"},{"speaker":"Tom Raftery","startTime":39.47,"endTime":41.87,"body":"to be sure you don't miss any episodes."},{"speaker":"Tom Raftery","startTime":44.039,"endTime":44.579,"body":"Hi everyone."},{"speaker":"Tom Raftery","startTime":44.609,"endTime":46.409,"body":"Welcome to the Climate 21 Podcast."},{"speaker":"Tom Raftery","startTime":46.529,"endTime":52.349,"body":"My name is Tom and with me on this show"},{"speaker":"Tom Raftery","startTime":46.529,"endTime":52.349,"body":"today, I have my special guest, also Tom."},{"speaker":"Tom Raftery","startTime":52.649,"endTime":53.969,"body":"Tom, welcome to the podcast."},{"speaker":"Tom Raftery","startTime":53.969,"endTime":55.349,"body":"Would you like to introduce yourself?"},{"speaker":"Tom Jensen","startTime":56.534,"endTime":57.014,"body":"Yes."},{"speaker":"Tom Jensen","startTime":57.091,"endTime":57.541,"body":"Hi Tom."},{"speaker":"Tom Jensen","startTime":57.571,"endTime":58.921,"body":"It's a pleasure to be here of course."},{"speaker":"Tom Jensen","startTime":58.926,"endTime":59.951,"body":"My name is Tom Jensen."},{"speaker":"Tom Jensen","startTime":59.971,"endTime":63.541,"body":"I'm the co-founder and chief"},{"speaker":"Tom Jensen","startTime":59.971,"endTime":63.541,"body":"executive officer of Freyr Battery."},{"speaker":"Tom Jensen","startTime":63.871,"endTime":66.691,"body":"Norway's leading clean"},{"speaker":"Tom Jensen","startTime":63.871,"endTime":66.691,"body":"battery solutions initiative."},{"speaker":"Tom Jensen","startTime":67.201,"endTime":68.041,"body":"Pleasure to be on this call."},{"speaker":"Tom Raftery","startTime":68.836,"endTime":69.406,"body":"Okay."},{"speaker":"Tom Raftery","startTime":69.466,"endTime":74.096,"body":"And when you say clean battery,"},{"speaker":"Tom Raftery","startTime":69.466,"endTime":74.096,"body":"Tom, what do you mean by that?"},{"speaker":"Tom Jensen","startTime":74.822,"endTime":78.012,"body":"So what I mean by that is"},{"speaker":"Tom Jensen","startTime":74.822,"endTime":78.012,"body":"batteries and lithium ion, batteries,"},{"speaker":"Tom Jensen","startTime":78.032,"endTime":83.486,"body":"maybe in particular is becoming the"},{"speaker":"Tom Jensen","startTime":78.032,"endTime":83.486,"body":"core enabler in our opinion for the"},{"speaker":"Tom Jensen","startTime":83.486,"endTime":85.226,"body":"energy transition that we are in."},{"speaker":"Tom Jensen","startTime":85.854,"endTime":87.557,"body":"That means that having."},{"speaker":"Tom Jensen","startTime":88.067,"endTime":91.817,"body":"Lithium ion batteries produced in"},{"speaker":"Tom Jensen","startTime":88.067,"endTime":91.817,"body":"the least carbon intensive manner"},{"speaker":"Tom Jensen","startTime":91.817,"endTime":96.767,"body":"as possible to both decarbonize the"},{"speaker":"Tom Jensen","startTime":91.817,"endTime":96.767,"body":"transportation sector, which for many"},{"speaker":"Tom Jensen","startTime":96.767,"endTime":100.001,"body":"is obvious, electric vehicles tend"},{"speaker":"Tom Jensen","startTime":96.767,"endTime":100.001,"body":"to at least move the exhaust pipe."},{"speaker":"Tom Jensen","startTime":100.799,"endTime":104.876,"body":"But also lithium ion batteries as a"},{"speaker":"Tom Jensen","startTime":100.799,"endTime":104.876,"body":"core enabler for decarbonizing energy"},{"speaker":"Tom Jensen","startTime":104.876,"endTime":107.126,"body":"systems is what we mean by that."},{"speaker":"Tom Jensen","startTime":107.126,"endTime":111.356,"body":"And what we mean by clean battery"},{"speaker":"Tom Jensen","startTime":107.126,"endTime":111.356,"body":"solutions into that backdrop is that"},{"speaker":"Tom Jensen","startTime":111.576,"endTime":115.781,"body":"the batteries themselves need to"},{"speaker":"Tom Jensen","startTime":111.576,"endTime":115.781,"body":"be produced in the cleanest manner"},{"speaker":"Tom Jensen","startTime":115.811,"endTime":119.831,"body":"possible, meaning lowest possible"},{"speaker":"Tom Jensen","startTime":115.811,"endTime":119.831,"body":"carbon footprint along the entire"},{"speaker":"Tom Jensen","startTime":119.831,"endTime":121.301,"body":"value chain of producing the battery."},{"speaker":"Tom Jensen","startTime":121.751,"endTime":127.391,"body":"Because if we are putting batteries into"},{"speaker":"Tom Jensen","startTime":121.751,"endTime":127.391,"body":"a vehicle that are produced using coal,"},{"speaker":"Tom Jensen","startTime":127.781,"endTime":134.081,"body":"and if we charge these vehicles with coal"},{"speaker":"Tom Jensen","startTime":127.781,"endTime":134.081,"body":"based energy, we're just moving the point"},{"speaker":"Tom Jensen","startTime":134.086,"endTime":139.661,"body":"of combustion away from the vehicle to"},{"speaker":"Tom Jensen","startTime":134.086,"endTime":139.661,"body":"another facility or to another location."},{"speaker":"Tom Jensen","startTime":140.051,"endTime":146.636,"body":"And as we all know, the atmosphere"},{"speaker":"Tom Jensen","startTime":140.051,"endTime":146.636,"body":"tends to, disregard where CO2 emissions"},{"speaker":"Tom Jensen","startTime":146.636,"endTime":149.845,"body":"come it doesn't really matter as"},{"speaker":"Tom Jensen","startTime":146.636,"endTime":149.845,"body":"long because it kind of tends to"},{"speaker":"Tom Jensen","startTime":150.145,"endTime":153.745,"body":"disseminate in the atmosphere so that,"},{"speaker":"Tom Jensen","startTime":150.145,"endTime":153.745,"body":"you know, we're all impacted by it."},{"speaker":"Tom Jensen","startTime":154.225,"endTime":159.415,"body":"So it doesn't really help if we move the"},{"speaker":"Tom Jensen","startTime":154.225,"endTime":159.415,"body":"CO2 emissions from a vehicle in Germany"},{"speaker":"Tom Jensen","startTime":159.415,"endTime":161.365,"body":"to a coal based power plant in China."},{"speaker":"Tom Jensen","startTime":161.95,"endTime":164.89,"body":"So that's kind of what we mean"},{"speaker":"Tom Jensen","startTime":161.95,"endTime":164.89,"body":"by clean battery solutions."},{"speaker":"Tom Raftery","startTime":165.37,"endTime":165.85,"body":"Right."},{"speaker":"Tom Raftery","startTime":165.85,"endTime":170.7,"body":"And for lithium ion batteries, a"},{"speaker":"Tom Raftery","startTime":165.85,"endTime":170.7,"body":"lot of people talk about the fact"},{"speaker":"Tom Raftery","startTime":170.7,"endTime":174.81,"body":"that they do have a high energy"},{"speaker":"Tom Raftery","startTime":170.7,"endTime":174.81,"body":"footprint to manufacture them, and"},{"speaker":"Tom Raftery","startTime":174.81,"endTime":180.304,"body":"so, an EV for example, has higher"},{"speaker":"Tom Raftery","startTime":174.81,"endTime":180.304,"body":"embedded carbon in it than an"},{"speaker":"Tom Raftery","startTime":180.304,"endTime":181.984,"body":"internal combustion engine vehicle."},{"speaker":"Tom Raftery","startTime":181.984,"endTime":185.764,"body":"And you often hear people"},{"speaker":"Tom Raftery","startTime":181.984,"endTime":185.764,"body":"decrying EVs because of that."},{"speaker":"Tom Raftery","startTime":185.764,"endTime":188.164,"body":"So this is one way of overcoming that?"},{"speaker":"Tom Jensen","startTime":189.049,"endTime":189.829,"body":"Yes, absolutely."},{"speaker":"Tom Jensen","startTime":189.889,"endTime":192.945,"body":"And I, do understand that that is"},{"speaker":"Tom Jensen","startTime":189.889,"endTime":192.945,"body":"something that special interests"},{"speaker":"Tom Jensen","startTime":192.945,"endTime":194.445,"body":"have a tendency to focus on."},{"speaker":"Tom Jensen","startTime":194.685,"endTime":199.665,"body":"And that's why I just want to sort of"},{"speaker":"Tom Jensen","startTime":194.685,"endTime":199.665,"body":"underline that it's not sufficient to"},{"speaker":"Tom Jensen","startTime":199.67,"endTime":202.7,"body":"decarbonize the transportation sector."},{"speaker":"Tom Jensen","startTime":202.88,"endTime":207.86,"body":"You also need to decarbonize the energy"},{"speaker":"Tom Jensen","startTime":202.88,"endTime":207.86,"body":"going into the transportation sector."},{"speaker":"Tom Jensen","startTime":207.942,"endTime":212.646,"body":"And that's why when you move to"},{"speaker":"Tom Jensen","startTime":207.942,"endTime":212.646,"body":"a rechargeable solution when you"},{"speaker":"Tom Jensen","startTime":212.646,"endTime":216.203,"body":"actually recharge those batteries"},{"speaker":"Tom Jensen","startTime":212.646,"endTime":216.203,"body":"that energy needs to be clean."},{"speaker":"Tom Jensen","startTime":216.25,"endTime":219.97,"body":"And of course everyone understands,"},{"speaker":"Tom Jensen","startTime":216.25,"endTime":219.97,"body":"or I dunno if everyone understand it."},{"speaker":"Tom Jensen","startTime":219.97,"endTime":223.96,"body":"Sometimes when you read newspapers"},{"speaker":"Tom Jensen","startTime":219.97,"endTime":223.96,"body":"and listen to people in media,"},{"speaker":"Tom Jensen","startTime":223.99,"endTime":226.03,"body":"you tend to sort of think"},{"speaker":"Tom Jensen","startTime":223.99,"endTime":226.03,"body":"that they really don't get it."},{"speaker":"Tom Jensen","startTime":226.09,"endTime":228.85,"body":"But we need to triple"},{"speaker":"Tom Jensen","startTime":226.09,"endTime":228.85,"body":"electricity production."},{"speaker":"Tom Jensen","startTime":229.19,"endTime":233.113,"body":"We as a species, right over"},{"speaker":"Tom Jensen","startTime":229.19,"endTime":233.113,"body":"the next coming decades to"},{"speaker":"Tom Jensen","startTime":233.113,"endTime":235.23,"body":"satisfy the energy transition."},{"speaker":"Tom Jensen","startTime":235.65,"endTime":241.91,"body":"That electricity increase requires than"},{"speaker":"Tom Jensen","startTime":235.65,"endTime":241.91,"body":"a 20 folding or more of renewable energy"},{"speaker":"Tom Jensen","startTime":241.915,"endTime":243.98,"body":"production relative to where we are today."},{"speaker":"Tom Jensen","startTime":244.73,"endTime":248.69,"body":"And if you're 20 folding solar and"},{"speaker":"Tom Jensen","startTime":244.73,"endTime":248.69,"body":"wind, which are the predominant"},{"speaker":"Tom Jensen","startTime":248.69,"endTime":252.74,"body":"carriers for that renewable energy,"},{"speaker":"Tom Jensen","startTime":248.69,"endTime":252.74,"body":"which are intermittent power sources,"},{"speaker":"Tom Jensen","startTime":253.19,"endTime":257.0,"body":"you're gonna put a lot of stress into"},{"speaker":"Tom Jensen","startTime":253.19,"endTime":257.0,"body":"the current energy systems, which are"},{"speaker":"Tom Jensen","startTime":257.0,"endTime":261.35,"body":"based on base load coal and gas, and"},{"speaker":"Tom Jensen","startTime":257.0,"endTime":261.35,"body":"nuclear, and to some extent hydro."},{"speaker":"Tom Jensen","startTime":262.01,"endTime":265.79,"body":"And that's why you're gonna need"},{"speaker":"Tom Jensen","startTime":262.01,"endTime":265.79,"body":"batteries to store sunlight when"},{"speaker":"Tom Jensen","startTime":265.79,"endTime":268.82,"body":"the sun isn't shining and store"},{"speaker":"Tom Jensen","startTime":265.79,"endTime":268.82,"body":"wind when the wind isn't blowing."},{"speaker":"Tom Jensen","startTime":269.12,"endTime":272.945,"body":"But on top of this, You need a lot"},{"speaker":"Tom Jensen","startTime":269.12,"endTime":272.945,"body":"of additional services, frequency"},{"speaker":"Tom Jensen","startTime":272.945,"endTime":276.725,"body":"regulation, peak shaving, all of"},{"speaker":"Tom Jensen","startTime":272.945,"endTime":276.725,"body":"these different things that batteries"},{"speaker":"Tom Jensen","startTime":276.725,"endTime":281.225,"body":"can provide to provide what I label"},{"speaker":"Tom Jensen","startTime":276.725,"endTime":281.225,"body":"stress relief for grids that aren't"},{"speaker":"Tom Jensen","startTime":281.225,"endTime":283.325,"body":"designed for intermittent energy."},{"speaker":"Tom Jensen","startTime":283.565,"endTime":287.745,"body":"So, yes, the criticism around the whole"},{"speaker":"Tom Jensen","startTime":283.565,"endTime":287.745,"body":"carbon footprint, along the value chain"},{"speaker":"Tom Jensen","startTime":287.745,"endTime":294.015,"body":"of a battery is correct in the sense"},{"speaker":"Tom Jensen","startTime":287.745,"endTime":294.015,"body":"that we are producing the materials"},{"speaker":"Tom Jensen","startTime":294.074,"endTime":298.56,"body":"and the batteries themselves today"},{"speaker":"Tom Jensen","startTime":294.074,"endTime":298.56,"body":"with too high carbon footprint in it."},{"speaker":"Tom Jensen","startTime":299.19,"endTime":302.52,"body":"But that's because the energy"},{"speaker":"Tom Jensen","startTime":299.19,"endTime":302.52,"body":"systems aren't decarbonized"},{"speaker":"Tom Jensen","startTime":302.55,"endTime":304.05,"body":"and we need to do both."},{"speaker":"Tom Jensen","startTime":304.53,"endTime":308.93,"body":"And Clean Battery solutions can be a"},{"speaker":"Tom Jensen","startTime":304.53,"endTime":308.93,"body":"core catalyst for both of these things."},{"speaker":"Tom Jensen","startTime":309.47,"endTime":314.33,"body":"And what we then need to do again,"},{"speaker":"Tom Jensen","startTime":309.47,"endTime":314.33,"body":"we as Homo Sapiens we need to just"},{"speaker":"Tom Jensen","startTime":314.33,"endTime":317.75,"body":"replicate clean battery solution"},{"speaker":"Tom Jensen","startTime":314.33,"endTime":317.75,"body":"facilities all over the world,"},{"speaker":"Tom Jensen","startTime":317.99,"endTime":319.76,"body":"many, many, many, many times over."},{"speaker":"Tom Jensen","startTime":320.06,"endTime":324.05,"body":"That's why Elon Musk and others are"},{"speaker":"Tom Jensen","startTime":320.06,"endTime":324.05,"body":"talking about, not Gigafactories"},{"speaker":"Tom Jensen","startTime":324.05,"endTime":326.54,"body":"anymore, but Tera factories, right?"},{"speaker":"Tom Jensen","startTime":326.54,"endTime":331.88,"body":"We need to get to the TeraWatt hour level"},{"speaker":"Tom Jensen","startTime":326.54,"endTime":331.88,"body":"of battery solutions and Freyr aims to"},{"speaker":"Tom Jensen","startTime":331.88,"endTime":334.6,"body":"play a significant role in this regard."},{"speaker":"Tom Raftery","startTime":335.21,"endTime":335.54,"body":"Okay."},{"speaker":"Tom Raftery","startTime":335.54,"endTime":340.92,"body":"And how are your batteries"},{"speaker":"Tom Raftery","startTime":335.54,"endTime":340.92,"body":"cleaner than anyone else's?"},{"speaker":"Tom Jensen","startTime":341.134,"endTime":345.394,"body":"Well, first of all, our"},{"speaker":"Tom Jensen","startTime":341.134,"endTime":345.394,"body":"first gigafactory will be in northern"},{"speaker":"Tom Jensen","startTime":345.399,"endTime":347.944,"body":"Norway in a location called Mo i Rana."},{"speaker":"Tom Jensen","startTime":348.114,"endTime":352.163,"body":"It's halfway up the Norwegian,"},{"speaker":"Tom Jensen","startTime":348.114,"endTime":352.163,"body":"country even though we"},{"speaker":"Tom Jensen","startTime":352.163,"endTime":353.483,"body":"label it as Northern Norway."},{"speaker":"Tom Jensen","startTime":354.423,"endTime":357.095,"body":"It's in an area called N oh"},{"speaker":"Tom Jensen","startTime":354.423,"endTime":357.095,"body":"four, the sort of fourth energy"},{"speaker":"Tom Jensen","startTime":357.095,"endTime":358.565,"body":"district, if you like, in Norway."},{"speaker":"Tom Jensen","startTime":359.015,"endTime":362.915,"body":"And there is about 6 TWh hours"},{"speaker":"Tom Jensen","startTime":359.015,"endTime":362.915,"body":"of surplus energy in the area."},{"speaker":"Tom Jensen","startTime":362.945,"endTime":364.715,"body":"And all of that energy is renewable."},{"speaker":"Tom Jensen","startTime":365.285,"endTime":370.637,"body":"So that energy is both renewable and"},{"speaker":"Tom Jensen","startTime":365.285,"endTime":370.637,"body":"actually very competitively priced."},{"speaker":"Tom Jensen","startTime":370.637,"endTime":374.697,"body":"And we've secured a 10 year power"},{"speaker":"Tom Jensen","startTime":370.637,"endTime":374.697,"body":"purchase agreement with Statkraft."},{"speaker":"Tom Jensen","startTime":375.107,"endTime":378.627,"body":"The largest power company in"},{"speaker":"Tom Jensen","startTime":375.107,"endTime":378.627,"body":"Norway and the largest renewable"},{"speaker":"Tom Jensen","startTime":378.627,"endTime":380.067,"body":"energy producer in Europe."},{"speaker":"Tom Jensen","startTime":380.79,"endTime":386.179,"body":"So we have probably the most competitive"},{"speaker":"Tom Jensen","startTime":380.79,"endTime":386.179,"body":"power prices going into our planned"},{"speaker":"Tom Jensen","startTime":386.419,"endTime":387.982,"body":"gigafactory in northern Norway."},{"speaker":"Tom Jensen","startTime":388.792,"endTime":392.649,"body":"And by just using renewable"},{"speaker":"Tom Jensen","startTime":388.792,"endTime":392.649,"body":"energy in the production of the"},{"speaker":"Tom Jensen","startTime":392.649,"endTime":393.549,"body":"batteries, we aim to produce."},{"speaker":"Tom Jensen","startTime":394.209,"endTime":399.159,"body":"We will reduce the carbon footprint by"},{"speaker":"Tom Jensen","startTime":394.209,"endTime":399.159,"body":"30 to 40% compared to global averages."},{"speaker":"Tom Jensen","startTime":399.699,"endTime":404.319,"body":"What we're gonna do on top of this"},{"speaker":"Tom Jensen","startTime":399.699,"endTime":404.319,"body":"is that over time we will localize"},{"speaker":"Tom Jensen","startTime":404.739,"endTime":410.019,"body":"and, or regionalize maybe is a better"},{"speaker":"Tom Jensen","startTime":404.739,"endTime":410.019,"body":"word, and decarbonize the larger"},{"speaker":"Tom Jensen","startTime":410.024,"endTime":414.099,"body":"parts of the supply chain going into"},{"speaker":"Tom Jensen","startTime":410.024,"endTime":414.099,"body":"the production of the batteries."},{"speaker":"Tom Jensen","startTime":414.249,"endTime":420.589,"body":"Today, most of the active materials anode,"},{"speaker":"Tom Jensen","startTime":414.249,"endTime":420.589,"body":"cathode, electrolytes, separators, copper"},{"speaker":"Tom Jensen","startTime":420.639,"endTime":422.019,"body":"foil, all of these different things."},{"speaker":"Tom Jensen","startTime":422.589,"endTime":423.489,"body":"Most of it."},{"speaker":"Tom Jensen","startTime":423.864,"endTime":426.114,"body":"All key ingredients in"},{"speaker":"Tom Jensen","startTime":423.864,"endTime":426.114,"body":"producing a battery."},{"speaker":"Tom Jensen","startTime":426.564,"endTime":432.744,"body":"Most of it are today produced in Asia, and"},{"speaker":"Tom Jensen","startTime":426.564,"endTime":432.744,"body":"most of it using a non-renewable energy"},{"speaker":"Tom Jensen","startTime":433.134,"endTime":435.534,"body":"as the energy carrier when producing it."},{"speaker":"Tom Jensen","startTime":435.834,"endTime":439.794,"body":"But if you then localize that in an"},{"speaker":"Tom Jensen","startTime":435.834,"endTime":439.794,"body":"area where you have renewable energy"},{"speaker":"Tom Jensen","startTime":440.034,"endTime":444.579,"body":"and to boot that, that renewable energy"},{"speaker":"Tom Jensen","startTime":440.034,"endTime":444.579,"body":"is more cost competitive, you have the"},{"speaker":"Tom Jensen","startTime":444.579,"endTime":448.809,"body":"double sort of impact of both reducing"},{"speaker":"Tom Jensen","startTime":444.579,"endTime":448.809,"body":"the cost of producing the battery as"},{"speaker":"Tom Jensen","startTime":448.809,"endTime":452.349,"body":"energy is a very large fraction of the"},{"speaker":"Tom Jensen","startTime":448.809,"endTime":452.349,"body":"cost of producing active materials."},{"speaker":"Tom Jensen","startTime":452.769,"endTime":457.239,"body":"And you take out the carbon footprint"},{"speaker":"Tom Jensen","startTime":452.769,"endTime":457.239,"body":"in the active materials themselves."},{"speaker":"Tom Jensen","startTime":457.689,"endTime":463.119,"body":"So our footprint or ambition is to"},{"speaker":"Tom Jensen","startTime":457.689,"endTime":463.119,"body":"reduce the CO2 footprint initially"},{"speaker":"Tom Jensen","startTime":463.119,"endTime":466.149,"body":"by 80% relative to global averages."},{"speaker":"Tom Jensen","startTime":466.599,"endTime":473.164,"body":"That means 60 kilograms of co2 per"},{"speaker":"Tom Jensen","startTime":466.599,"endTime":473.164,"body":"kilowatt hour battery produced, and as"},{"speaker":"Tom Jensen","startTime":473.164,"endTime":477.274,"body":"we are aiming to produce millions and"},{"speaker":"Tom Jensen","startTime":473.164,"endTime":477.274,"body":"millions of kilowatt hours, when you add"},{"speaker":"Tom Jensen","startTime":477.274,"endTime":481.204,"body":"all of that together, it actually has a"},{"speaker":"Tom Jensen","startTime":477.274,"endTime":481.204,"body":"meaningful impact on the CO2 reduction."},{"speaker":"Tom Jensen","startTime":482.073,"endTime":486.339,"body":"Ultimately we want to get to zero"},{"speaker":"Tom Jensen","startTime":482.073,"endTime":486.339,"body":"and not net zero, but absolute zero"},{"speaker":"Tom Jensen","startTime":486.789,"endTime":490.929,"body":"that there is absolutely no CO2"},{"speaker":"Tom Jensen","startTime":486.789,"endTime":490.929,"body":"emissions along the entire value"},{"speaker":"Tom Jensen","startTime":490.929,"endTime":492.819,"body":"chain of producing the batteries."},{"speaker":"Tom Jensen","startTime":493.059,"endTime":495.039,"body":"That is probably going to"},{"speaker":"Tom Jensen","startTime":493.059,"endTime":495.039,"body":"take us a little bit longer."},{"speaker":"Tom Jensen","startTime":495.444,"endTime":499.224,"body":"But in the sort of 2030 timeframe, we"},{"speaker":"Tom Jensen","startTime":495.444,"endTime":499.224,"body":"should be in position to be able to"},{"speaker":"Tom Jensen","startTime":499.224,"endTime":504.594,"body":"argue that we've created fully circular,"},{"speaker":"Tom Jensen","startTime":499.224,"endTime":504.594,"body":"fully decarbonized, fully recyclable"},{"speaker":"Tom Jensen","startTime":505.018,"endTime":507.528,"body":"value chains for clean battery solutions."},{"speaker":"Tom Jensen","startTime":507.648,"endTime":511.878,"body":"And we have to be able to get to that"},{"speaker":"Tom Jensen","startTime":507.648,"endTime":511.878,"body":"point cuz the world depends upon it."},{"speaker":"Tom Raftery","startTime":512.643,"endTime":512.913,"body":"Right."},{"speaker":"Tom Raftery","startTime":513.093,"endTime":513.483,"body":"Okay."},{"speaker":"Tom Raftery","startTime":514.083,"endTime":517.983,"body":"Just circling back to something you"},{"speaker":"Tom Raftery","startTime":514.083,"endTime":517.983,"body":"said there, if, if I heard correctly,"},{"speaker":"Tom Raftery","startTime":545.423,"endTime":550.673,"body":"you said there's six terrawatts in"},{"speaker":"Tom Raftery","startTime":545.423,"endTime":550.673,"body":"that part of Norway you are in of"},{"speaker":"Tom Raftery","startTime":550.673,"endTime":553.133,"body":"clean energy surplus to requirements."},{"speaker":"Tom Raftery","startTime":553.133,"endTime":553.7330000000001,"body":"Is that correct?"},{"speaker":"Tom Raftery","startTime":553.9730000000001,"endTime":554.3330000000001,"body":"And."},{"speaker":"Tom Jensen","startTime":554.5880000000001,"endTime":554.7080000000001,"body":"correct."},{"speaker":"Tom Raftery","startTime":555.6080000000001,"endTime":558.248,"body":"How, how does that happen?"},{"speaker":"Tom Raftery","startTime":558.638,"endTime":560.918,"body":"How is there six TeraWatts"},{"speaker":"Tom Raftery","startTime":558.638,"endTime":560.918,"body":"of surplus energy?"},{"speaker":"Tom Jensen","startTime":561.548,"endTime":564.398,"body":"Well, so, so first of all,"},{"speaker":"Tom Jensen","startTime":561.548,"endTime":564.398,"body":"Tom, this is kind of average, right?"},{"speaker":"Tom Jensen","startTime":564.398,"endTime":566.528,"body":"Over many years, the"},{"speaker":"Tom Jensen","startTime":564.398,"endTime":566.528,"body":"average surplus, right?"},{"speaker":"Tom Jensen","startTime":566.528,"endTime":568.8190000000001,"body":"So certain years it"},{"speaker":"Tom Jensen","startTime":566.528,"endTime":568.8190000000001,"body":"might be deficit, right?"},{"speaker":"Tom Jensen","startTime":568.849,"endTime":570.0790000000001,"body":"But not, a lot of deficit."},{"speaker":"Tom Jensen","startTime":570.3330000000001,"endTime":573.363,"body":"And it's just been a large"},{"speaker":"Tom Jensen","startTime":570.3330000000001,"endTime":573.363,"body":"influx and large development of"},{"speaker":"Tom Jensen","startTime":573.363,"endTime":577.773,"body":"hydropower in the area, and now"},{"speaker":"Tom Jensen","startTime":573.363,"endTime":577.773,"body":"also select onshore wind farms."},{"speaker":"Tom Jensen","startTime":578.3130000000001,"endTime":582.312,"body":"There's also been interconnections"},{"speaker":"Tom Jensen","startTime":578.3130000000001,"endTime":582.312,"body":"now established to Sweden and Sweden."},{"speaker":"Tom Jensen","startTime":582.312,"endTime":586.4820000000001,"body":"In northern parts of Sweden, there is"},{"speaker":"Tom Jensen","startTime":582.312,"endTime":586.4820000000001,"body":"much more aggressive, let me put it"},{"speaker":"Tom Jensen","startTime":586.4820000000001,"endTime":589.471,"body":"that way onshore wind farm developments."},{"speaker":"Tom Jensen","startTime":590.2510000000001,"endTime":594.1210000000001,"body":"So in the area, the geographical"},{"speaker":"Tom Jensen","startTime":590.2510000000001,"endTime":594.1210000000001,"body":"area, as such there is a lot of"},{"speaker":"Tom Jensen","startTime":594.1210000000001,"endTime":596.0110000000001,"body":"development on clean energy solutions."},{"speaker":"Tom Jensen","startTime":596.2810000000001,"endTime":597.291,"body":"There's obviously also."},{"speaker":"Tom Jensen","startTime":598.316,"endTime":602.9060000000001,"body":"A lot of plans on establishing energy"},{"speaker":"Tom Jensen","startTime":598.316,"endTime":602.9060000000001,"body":"intensive industry in the area."},{"speaker":"Tom Jensen","startTime":603.056,"endTime":605.816,"body":"So this surplus won't be there for long."},{"speaker":"Tom Jensen","startTime":606.2360000000001,"endTime":610.346,"body":"If you add up all of the plans for"},{"speaker":"Tom Jensen","startTime":606.2360000000001,"endTime":610.346,"body":"different initiatives, including green"},{"speaker":"Tom Jensen","startTime":610.346,"endTime":613.826,"body":"steel and, and other sort of energy"},{"speaker":"Tom Jensen","startTime":610.346,"endTime":613.826,"body":"intensive industries and aluminium"},{"speaker":"Tom Jensen","startTime":613.826,"endTime":617.878,"body":"production and so on and so forth you"},{"speaker":"Tom Jensen","startTime":613.826,"endTime":617.878,"body":"rapidly get into a deficit situation."},{"speaker":"Tom Jensen","startTime":617.9380000000001,"endTime":622.788,"body":"But right now, and one of the reasons"},{"speaker":"Tom Jensen","startTime":617.9380000000001,"endTime":622.788,"body":"why we located ourselves there, is the"},{"speaker":"Tom Jensen","startTime":622.8180000000001,"endTime":625.4830000000001,"body":"current availability of surplus energy."},{"speaker":"Tom Jensen","startTime":626.076,"endTime":629.5070000000001,"body":"And north in Norway is"},{"speaker":"Tom Jensen","startTime":626.076,"endTime":629.5070000000001,"body":"connected to the south through"},{"speaker":"Tom Jensen","startTime":629.5070000000001,"endTime":631.937,"body":"a north, south grid connection."},{"speaker":"Tom Jensen","startTime":632.5970000000001,"endTime":636.557,"body":"But as you know, when you transport"},{"speaker":"Tom Jensen","startTime":632.5970000000001,"endTime":636.557,"body":"electrons over large distances, the"},{"speaker":"Tom Jensen","startTime":636.562,"endTime":638.883,"body":"efficiency of it is, quite poor."},{"speaker":"Tom Jensen","startTime":639.4830000000001,"endTime":643.113,"body":"It means that you lose a lot of that"},{"speaker":"Tom Jensen","startTime":639.4830000000001,"endTime":643.113,"body":"energy if you transport it south, and"},{"speaker":"Tom Jensen","startTime":643.113,"endTime":649.0530000000001,"body":"therefore finding ways in which to use"},{"speaker":"Tom Jensen","startTime":643.113,"endTime":649.0530000000001,"body":"it locally and or upgrading the grid"},{"speaker":"Tom Jensen","startTime":649.668,"endTime":654.048,"body":"is kind of the two things that could do"},{"speaker":"Tom Jensen","startTime":649.668,"endTime":654.048,"body":"something with that surplus situation."},{"speaker":"Tom Jensen","startTime":654.1080000000001,"endTime":660.1980000000001,"body":"Now from a energy intensive"},{"speaker":"Tom Jensen","startTime":654.1080000000001,"endTime":660.1980000000001,"body":"producer, of products point of view."},{"speaker":"Tom Jensen","startTime":660.7080000000001,"endTime":664.4280000000001,"body":"We kind of like the fact that there is a"},{"speaker":"Tom Jensen","startTime":660.7080000000001,"endTime":664.4280000000001,"body":"power island nature of the energy in the"},{"speaker":"Tom Jensen","startTime":664.4280000000001,"endTime":669.1310000000001,"body":"area because that, brings lower costs on"},{"speaker":"Tom Jensen","startTime":664.4280000000001,"endTime":669.1310000000001,"body":"top of the sort of green nature of it."},{"speaker":"Tom Jensen","startTime":669.6110000000001,"endTime":671.201,"body":"But that's a little bit"},{"speaker":"Tom Jensen","startTime":669.6110000000001,"endTime":671.201,"body":"the backdrop for it."},{"speaker":"Tom Jensen","startTime":671.201,"endTime":675.471,"body":"So, you know, Norway has been"},{"speaker":"Tom Jensen","startTime":671.201,"endTime":675.471,"body":"very good at developing hydropower"},{"speaker":"Tom Jensen","startTime":675.503,"endTime":679.403,"body":"developments since basically 1900 ish."},{"speaker":"Tom Jensen","startTime":679.4630000000001,"endTime":679.7030000000001,"body":"Right?"},{"speaker":"Tom Jensen","startTime":679.7030000000001,"endTime":683.788,"body":"So Norsk Hydro one of the larger"},{"speaker":"Tom Jensen","startTime":679.7030000000001,"endTime":683.788,"body":"industrial companies in Norway"},{"speaker":"Tom Jensen","startTime":683.788,"endTime":688.498,"body":"established in 1905, and where many"},{"speaker":"Tom Jensen","startTime":683.788,"endTime":688.498,"body":"of the people in Freyr  actually come"},{"speaker":"Tom Jensen","startTime":688.498,"endTime":693.508,"body":"from professionally, started out by"},{"speaker":"Tom Jensen","startTime":688.498,"endTime":693.508,"body":"leveraging hydropower in mid parts"},{"speaker":"Tom Jensen","startTime":693.508,"endTime":695.278,"body":"of Norway for fertilizer production."},{"speaker":"Tom Jensen","startTime":695.518,"endTime":699.2080000000001,"body":"And then of course Hydro went on to"},{"speaker":"Tom Jensen","startTime":695.518,"endTime":699.2080000000001,"body":"become an aluminum producer, which is"},{"speaker":"Tom Jensen","startTime":699.2080000000001,"endTime":701.278,"body":"energy in fixed form, many, many claim."},{"speaker":"Tom Jensen","startTime":701.7280000000001,"endTime":705.148,"body":"And then of course Hydro became an"},{"speaker":"Tom Jensen","startTime":701.7280000000001,"endTime":705.148,"body":"oil and gas producing company as well."},{"speaker":"Tom Jensen","startTime":705.538,"endTime":709.168,"body":"So a large project execution, operational"},{"speaker":"Tom Jensen","startTime":705.538,"endTime":709.168,"body":"excellence experience, but all of it,"},{"speaker":"Tom Jensen","startTime":709.168,"endTime":716.455,"body":"it's started with hydropower so that we"},{"speaker":"Tom Jensen","startTime":709.168,"endTime":716.455,"body":"are now taking steps as a company based"},{"speaker":"Tom Jensen","startTime":716.455,"endTime":722.4250000000001,"body":"on the proud heritage industrially into"},{"speaker":"Tom Jensen","startTime":716.455,"endTime":722.4250000000001,"body":"clean energy battery solutions very energy"},{"speaker":"Tom Jensen","startTime":722.4250000000001,"endTime":727.4050000000001,"body":"intensive value chain is a very natural"},{"speaker":"Tom Jensen","startTime":722.4250000000001,"endTime":727.4050000000001,"body":"and important step for Norway to make."},{"speaker":"Tom Jensen","startTime":727.969,"endTime":731.8080000000001,"body":"And again, we are happy to be"},{"speaker":"Tom Jensen","startTime":727.969,"endTime":731.8080000000001,"body":"the leading initiative on that"},{"speaker":"Tom Jensen","startTime":731.8080000000001,"endTime":733.158,"body":"in Norway, at least at present."},{"speaker":"Tom Raftery","startTime":733.758,"endTime":734.148,"body":"Okay."},{"speaker":"Tom Raftery","startTime":734.148,"endTime":738.3180000000001,"body":"And you mentioned two main pathways."},{"speaker":"Tom Raftery","startTime":738.738,"endTime":743.238,"body":"So you mentioned transportation and"},{"speaker":"Tom Raftery","startTime":738.738,"endTime":743.238,"body":"you mentioned greening the grid as"},{"speaker":"Tom Raftery","startTime":743.268,"endTime":747.7180000000001,"body":"two  potential customers or potential"},{"speaker":"Tom Raftery","startTime":743.268,"endTime":747.7180000000001,"body":"markets for your batteries, do you"},{"speaker":"Tom Raftery","startTime":747.7180000000001,"endTime":752.393,"body":"have a preference for either or are you"},{"speaker":"Tom Raftery","startTime":747.7180000000001,"endTime":752.393,"body":"pretty agnostic on where they're used?"},{"speaker":"Tom Jensen","startTime":752.8960000000001,"endTime":755.416,"body":"principally we are"},{"speaker":"Tom Jensen","startTime":752.8960000000001,"endTime":755.416,"body":"agnostic and we are targeting"},{"speaker":"Tom Jensen","startTime":755.416,"endTime":757.3430000000001,"body":"both market verticals over time."},{"speaker":"Tom Jensen","startTime":757.869,"endTime":762.5790000000001,"body":"But we have initially, focused our"},{"speaker":"Tom Jensen","startTime":757.869,"endTime":762.5790000000001,"body":"efforts into the energy storage market."},{"speaker":"Tom Jensen","startTime":763.214,"endTime":768.734,"body":"There aren't very many battery players"},{"speaker":"Tom Jensen","startTime":763.214,"endTime":768.734,"body":"who are doing that and our technology"},{"speaker":"Tom Jensen","startTime":768.884,"endTime":773.894,"body":"solutions are particularly suited"},{"speaker":"Tom Jensen","startTime":768.884,"endTime":773.894,"body":"for energy storage applications."},{"speaker":"Tom Jensen","startTime":774.014,"endTime":775.9340000000001,"body":"So that's typically for our storage."},{"speaker":"Tom Jensen","startTime":776.969,"endTime":781.2360000000001,"body":"For our charge discharge kind"},{"speaker":"Tom Jensen","startTime":776.969,"endTime":781.2360000000001,"body":"of solutions with lithium iron"},{"speaker":"Tom Jensen","startTime":781.2360000000001,"endTime":783.216,"body":"phosphate type cathodes, right?"},{"speaker":"Tom Jensen","startTime":783.216,"endTime":786.426,"body":"So not the high nickel cobalt"},{"speaker":"Tom Jensen","startTime":783.216,"endTime":786.426,"body":"containing batteries, but iron"},{"speaker":"Tom Jensen","startTime":786.426,"endTime":791.589,"body":"phosphate type batteries which"},{"speaker":"Tom Jensen","startTime":786.426,"endTime":791.589,"body":"are safer and also lower cost."},{"speaker":"Tom Jensen","startTime":791.6560000000001,"endTime":796.249,"body":"And therefore the total cost of ownership"},{"speaker":"Tom Jensen","startTime":791.6560000000001,"endTime":796.249,"body":"or the levelized cost of storage or"},{"speaker":"Tom Jensen","startTime":796.249,"endTime":800.3960000000001,"body":"whatever sort of acronym you'd like to use"},{"speaker":"Tom Jensen","startTime":796.249,"endTime":800.3960000000001,"body":"on it becomes that much more competitive."},{"speaker":"Tom Jensen","startTime":800.456,"endTime":805.691,"body":"We are going to produce batteries"},{"speaker":"Tom Jensen","startTime":800.456,"endTime":805.691,"body":"that last for more than 7,300 cycles,"},{"speaker":"Tom Jensen","startTime":805.931,"endTime":811.5110000000001,"body":"basically, meaning charge discharge"},{"speaker":"Tom Jensen","startTime":805.931,"endTime":811.5110000000001,"body":"for four hours every day for 20 years."},{"speaker":"Tom Jensen","startTime":812.057,"endTime":816.2270000000001,"body":"And, and that creates a very competitive"},{"speaker":"Tom Jensen","startTime":812.057,"endTime":816.2270000000001,"body":"sort of solution given that we're also"},{"speaker":"Tom Jensen","startTime":816.2270000000001,"endTime":821.572,"body":"using very low cost electricity and we're"},{"speaker":"Tom Jensen","startTime":816.2270000000001,"endTime":821.572,"body":"using a technology that allows us to build"},{"speaker":"Tom Jensen","startTime":821.572,"endTime":828.052,"body":"larger and thicker electrodes, so initial"},{"speaker":"Tom Jensen","startTime":821.572,"endTime":828.052,"body":"focus on energy storage applications, but"},{"speaker":"Tom Jensen","startTime":828.052,"endTime":833.7220000000001,"body":"then we think, and we're quite convinced"},{"speaker":"Tom Jensen","startTime":828.052,"endTime":833.7220000000001,"body":"that we can be able to optimize those"},{"speaker":"Tom Jensen","startTime":833.7270000000001,"endTime":840.206,"body":"solutions and scale them let's call it"},{"speaker":"Tom Jensen","startTime":833.7270000000001,"endTime":840.206,"body":"down to automotive applications because"},{"speaker":"Tom Jensen","startTime":840.206,"endTime":845.796,"body":"again, our technology platform, based"},{"speaker":"Tom Jensen","startTime":840.206,"endTime":845.796,"body":"on 24M technologies out of MIT in Boston"},{"speaker":"Tom Jensen","startTime":845.913,"endTime":852.4530000000001,"body":"is a highly space optimized and highly"},{"speaker":"Tom Jensen","startTime":845.913,"endTime":852.4530000000001,"body":"efficient way to produce batteries"},{"speaker":"Tom Jensen","startTime":852.4530000000001,"endTime":857.157,"body":"using the same raw materials that go"},{"speaker":"Tom Jensen","startTime":852.4530000000001,"endTime":857.157,"body":"into conventional battery production."},{"speaker":"Tom Jensen","startTime":857.9670000000001,"endTime":864.604,"body":"So you will see us focusing on the energy"},{"speaker":"Tom Jensen","startTime":857.9670000000001,"endTime":864.604,"body":"storage market continuously, and you will"},{"speaker":"Tom Jensen","startTime":864.604,"endTime":870.471,"body":"gradually see us take positions also in"},{"speaker":"Tom Jensen","startTime":864.604,"endTime":870.471,"body":"the commercial vehicle and ultimately"},{"speaker":"Tom Jensen","startTime":870.471,"endTime":874.475,"body":"personal vehicle market because our"},{"speaker":"Tom Jensen","startTime":870.471,"endTime":874.475,"body":"technology is also suitable for that."},{"speaker":"Tom Jensen","startTime":874.475,"endTime":878.585,"body":"It's just that the benefits of that"},{"speaker":"Tom Jensen","startTime":874.475,"endTime":878.585,"body":"technology is much, much greater"},{"speaker":"Tom Jensen","startTime":879.095,"endTime":883.3470000000001,"body":"for the energy storage applications,"},{"speaker":"Tom Jensen","startTime":879.095,"endTime":883.3470000000001,"body":"but also has an advantage on"},{"speaker":"Tom Jensen","startTime":883.3580000000001,"endTime":884.798,"body":"on automotive applications."},{"speaker":"Tom Jensen","startTime":884.8030000000001,"endTime":887.5880000000001,"body":"But there's only so much"},{"speaker":"Tom Jensen","startTime":884.8030000000001,"endTime":887.5880000000001,"body":"we can do in the start."},{"speaker":"Tom Jensen","startTime":887.5880000000001,"endTime":892.868,"body":"So we, you know, steady as you go"},{"speaker":"Tom Jensen","startTime":887.5880000000001,"endTime":892.868,"body":"and grow, as we say, we hurry slowly."},{"speaker":"Tom Jensen","startTime":893.1080000000001,"endTime":893.3480000000001,"body":"Yeah."},{"speaker":"Tom Raftery","startTime":893.6930000000001,"endTime":894.383,"body":"Okay, great."},{"speaker":"Tom Raftery","startTime":894.9530000000001,"endTime":899.783,"body":"And you mentioned about, you know,"},{"speaker":"Tom Raftery","startTime":894.9530000000001,"endTime":899.783,"body":"regionalizing your supply chain,"},{"speaker":"Tom Raftery","startTime":900.113,"endTime":904.643,"body":"but does that also mean that you'll"},{"speaker":"Tom Raftery","startTime":900.113,"endTime":904.643,"body":"move beyond Norway yourselves and"},{"speaker":"Tom Raftery","startTime":904.643,"endTime":907.673,"body":"put Gigafactories in other regions,"},{"speaker":"Tom Raftery","startTime":904.643,"endTime":907.673,"body":"or are you sticking to Norway?"},{"speaker":"Tom Jensen","startTime":908.048,"endTime":909.038,"body":"No, No, absolutely."},{"speaker":"Tom Jensen","startTime":909.2460000000001,"endTime":914.071,"body":"We we see that our customers as"},{"speaker":"Tom Jensen","startTime":909.2460000000001,"endTime":914.071,"body":"point number one they require"},{"speaker":"Tom Jensen","startTime":914.2510000000001,"endTime":919.2310000000001,"body":"increasingly, to have supply chains"},{"speaker":"Tom Jensen","startTime":914.2510000000001,"endTime":919.2310000000001,"body":"of their products regionalized."},{"speaker":"Tom Jensen","startTime":919.3810000000001,"endTime":925.196,"body":"This is critical energy infrastructure"},{"speaker":"Tom Jensen","startTime":919.3810000000001,"endTime":925.196,"body":"because batteries will be an important"},{"speaker":"Tom Jensen","startTime":925.196,"endTime":929.5160000000001,"body":"part of the future energy system and"},{"speaker":"Tom Jensen","startTime":925.196,"endTime":929.5160000000001,"body":"the future energy mix, and I don't"},{"speaker":"Tom Jensen","startTime":929.5160000000001,"endTime":934.7310000000001,"body":"think the current global environment"},{"speaker":"Tom Jensen","startTime":929.5160000000001,"endTime":934.7310000000001,"body":"is very conducive to further degrees of"},{"speaker":"Tom Jensen","startTime":934.7310000000001,"endTime":936.711,"body":"globalization, at least not currently."},{"speaker":"Tom Jensen","startTime":937.341,"endTime":941.4810000000001,"body":"I don't think, you know, the United"},{"speaker":"Tom Jensen","startTime":937.341,"endTime":941.4810000000001,"body":"States and Europe as kind of two regions,"},{"speaker":"Tom Jensen","startTime":942.051,"endTime":946.99,"body":"they don't want to rely too heavily on"},{"speaker":"Tom Jensen","startTime":942.051,"endTime":946.99,"body":"China  and or other countries rather"},{"speaker":"Tom Jensen","startTime":946.995,"endTime":948.7,"body":"than sort of having regional supply."},{"speaker":"Tom Jensen","startTime":949.2700000000001,"endTime":953.2900000000001,"body":"So we have taken, and we've seen that of"},{"speaker":"Tom Jensen","startTime":949.2700000000001,"endTime":953.2900000000001,"body":"course in our customer discussions, more"},{"speaker":"Tom Jensen","startTime":953.2900000000001,"endTime":954.9580000000001,"body":"than a hundred of them that we're having."},{"speaker":"Tom Jensen","startTime":955.638,"endTime":959.326,"body":"We already signed up our first"},{"speaker":"Tom Jensen","startTime":955.638,"endTime":959.326,"body":"legally binding, customer agreement"},{"speaker":"Tom Jensen","startTime":959.326,"endTime":960.7360000000001,"body":"with Knee Deck Corporation."},{"speaker":"Tom Jensen","startTime":961.186,"endTime":965.716,"body":"So that's a Japanese company that are"},{"speaker":"Tom Jensen","startTime":961.186,"endTime":965.716,"body":"targeting energy storage applications in"},{"speaker":"Tom Jensen","startTime":965.716,"endTime":970.2760000000001,"body":"both Europe and the United States, and"},{"speaker":"Tom Jensen","startTime":965.716,"endTime":970.2760000000001,"body":"we will be supplying them with batteries"},{"speaker":"Tom Jensen","startTime":970.2760000000001,"endTime":975.591,"body":"for the European roll out of energy"},{"speaker":"Tom Jensen","startTime":970.2760000000001,"endTime":975.591,"body":"storage from our Norwegian facility."},{"speaker":"Tom Jensen","startTime":975.7410000000001,"endTime":979.3710000000001,"body":"So that is one example of a region"},{"speaker":"Tom Jensen","startTime":975.7410000000001,"endTime":979.3710000000001,"body":"regionalized kind of solution."},{"speaker":"Tom Jensen","startTime":979.941,"endTime":983.091,"body":"The energy storage customers that we've"},{"speaker":"Tom Jensen","startTime":979.941,"endTime":983.091,"body":"already announced that we have in the"},{"speaker":"Tom Jensen","startTime":983.091,"endTime":987.591,"body":"United States would want us to produce"},{"speaker":"Tom Jensen","startTime":983.091,"endTime":987.591,"body":"our batteries in the United States."},{"speaker":"Tom Jensen","startTime":988.191,"endTime":992.091,"body":"Therefore, we have established a joint"},{"speaker":"Tom Jensen","startTime":988.191,"endTime":992.091,"body":"venture with Koch Strategic Platforms,"},{"speaker":"Tom Jensen","startTime":992.211,"endTime":994.1310000000001,"body":"which is subsidiary of Koch Industries."},{"speaker":"Tom Jensen","startTime":994.851,"endTime":999.3810000000001,"body":"And we are, we have just finalized"},{"speaker":"Tom Jensen","startTime":994.851,"endTime":999.3810000000001,"body":"our site selection process in the"},{"speaker":"Tom Jensen","startTime":999.3810000000001,"endTime":1003.851,"body":"US and we will in the not so distant"},{"speaker":"Tom Jensen","startTime":999.3810000000001,"endTime":1003.851,"body":"the future be announcing where we're"},{"speaker":"Tom Jensen","startTime":1003.851,"endTime":1008.471,"body":"going to build our first gigafactory"},{"speaker":"Tom Jensen","startTime":1003.851,"endTime":1008.471,"body":"in the us and that facility will"},{"speaker":"Tom Jensen","startTime":1008.471,"endTime":1010.841,"body":"then supply our US customers."},{"speaker":"Tom Jensen","startTime":1011.4110000000001,"endTime":1016.243,"body":"We've also secured acreage in Finland"},{"speaker":"Tom Jensen","startTime":1011.4110000000001,"endTime":1016.243,"body":"for gigafactory developments there."},{"speaker":"Tom Jensen","startTime":1016.8430000000001,"endTime":1021.5490000000001,"body":"That is of course inside the European"},{"speaker":"Tom Jensen","startTime":1016.8430000000001,"endTime":1021.5490000000001,"body":"Union and Norway, albeit a member"},{"speaker":"Tom Jensen","startTime":1021.5490000000001,"endTime":1024.909,"body":"of the European economic area is"},{"speaker":"Tom Jensen","startTime":1021.5490000000001,"endTime":1024.909,"body":"still outside the European Union."},{"speaker":"Tom Jensen","startTime":1025.089,"endTime":1030.984,"body":"But from a European supply point of view,"},{"speaker":"Tom Jensen","startTime":1025.089,"endTime":1030.984,"body":"we do think that Norway and Finland are"},{"speaker":"Tom Jensen","startTime":1030.984,"endTime":1035.454,"body":"two sides of the same coin, but the demand"},{"speaker":"Tom Jensen","startTime":1030.984,"endTime":1035.454,"body":"and the need is going to be quite massive."},{"speaker":"Tom Jensen","startTime":1036.104,"endTime":1041.864,"body":"So therefore having a couple of production"},{"speaker":"Tom Jensen","startTime":1036.104,"endTime":1041.864,"body":"locations in Scandinavia for supplying"},{"speaker":"Tom Jensen","startTime":1041.864,"endTime":1044.754,"body":"the European needs seems very logical."},{"speaker":"Tom Jensen","startTime":1045.327,"endTime":1048.902,"body":"And it's also the area that are"},{"speaker":"Tom Jensen","startTime":1045.327,"endTime":1048.902,"body":"the most advanced, in particular on"},{"speaker":"Tom Jensen","startTime":1048.902,"endTime":1051.332,"body":"electrification on the vehicle side."},{"speaker":"Tom Jensen","startTime":1051.842,"endTime":1056.8680000000002,"body":"And now gradually they will, have to"},{"speaker":"Tom Jensen","startTime":1051.842,"endTime":1056.8680000000002,"body":"increase the tempo in the renewable"},{"speaker":"Tom Jensen","startTime":1056.8680000000002,"endTime":1062.655,"body":"energy transition unfortunately helped"},{"speaker":"Tom Jensen","startTime":1056.8680000000002,"endTime":1062.655,"body":"a lot by the Russian Ukrainian crisis"},{"speaker":"Tom Jensen","startTime":1062.655,"endTime":1067.335,"body":"and the sort of energy atrocities that"},{"speaker":"Tom Jensen","startTime":1062.655,"endTime":1067.335,"body":"are beyond the sort of human atrocities."},{"speaker":"Tom Jensen","startTime":1067.944,"endTime":1072.182,"body":"All of this issue with attacks on"},{"speaker":"Tom Jensen","startTime":1067.944,"endTime":1072.182,"body":"infrastructure, et cetera, is just"},{"speaker":"Tom Jensen","startTime":1072.255,"endTime":1077.595,"body":"creating a very strong, albeit"},{"speaker":"Tom Jensen","startTime":1072.255,"endTime":1077.595,"body":"negatively sort of charged impetus"},{"speaker":"Tom Jensen","startTime":1077.595,"endTime":1081.825,"body":"for accelerated localized energy"},{"speaker":"Tom Jensen","startTime":1077.595,"endTime":1081.825,"body":"solutions, including storage."},{"speaker":"Tom Jensen","startTime":1081.825,"endTime":1085.905,"body":"So there's a long winded way"},{"speaker":"Tom Jensen","startTime":1081.825,"endTime":1085.905,"body":"of saying that we're gonna"},{"speaker":"Tom Jensen","startTime":1085.905,"endTime":1088.2150000000001,"body":"need to build a lot of storage."},{"speaker":"Tom Jensen","startTime":1088.2150000000001,"endTime":1090.825,"body":"We're gonna need to accelerate"},{"speaker":"Tom Jensen","startTime":1088.2150000000001,"endTime":1090.825,"body":"deployment of wind and solar."},{"speaker":"Tom Jensen","startTime":1091.489,"endTime":1094.9560000000001,"body":"We're gonna need to decarbonize the"},{"speaker":"Tom Jensen","startTime":1091.489,"endTime":1094.9560000000001,"body":"transportation system and we cannot rely"},{"speaker":"Tom Jensen","startTime":1094.9560000000001,"endTime":1100.536,"body":"on supply from Russia, supply from China,"},{"speaker":"Tom Jensen","startTime":1094.9560000000001,"endTime":1100.536,"body":"and I don't think we want to because"},{"speaker":"Tom Jensen","startTime":1100.536,"endTime":1106.5510000000002,"body":"it's too risky given the differences of"},{"speaker":"Tom Jensen","startTime":1100.536,"endTime":1106.5510000000002,"body":"opinion of what is acceptable and not."},{"speaker":"Tom Jensen","startTime":1106.941,"endTime":1107.181,"body":"Yeah."},{"speaker":"Tom Jensen","startTime":1107.681,"endTime":1109.481,"body":"so that's a little bit"},{"speaker":"Tom Jensen","startTime":1107.681,"endTime":1109.481,"body":"how we're looking at it."},{"speaker":"Tom Jensen","startTime":1109.481,"endTime":1115.211,"body":"So you should see Freyr both producing"},{"speaker":"Tom Jensen","startTime":1109.481,"endTime":1115.211,"body":"batteries locally and establishing"},{"speaker":"Tom Jensen","startTime":1115.241,"endTime":1119.351,"body":"the processing of minerals and"},{"speaker":"Tom Jensen","startTime":1115.241,"endTime":1119.351,"body":"metals to the active materials"},{"speaker":"Tom Jensen","startTime":1119.356,"endTime":1120.521,"body":"we need for producing batteries."},{"speaker":"Tom Jensen","startTime":1120.526,"endTime":1127.031,"body":"Also locally and if possible, co-located"},{"speaker":"Tom Jensen","startTime":1120.526,"endTime":1127.031,"body":"in sort of larger industrial, let's"},{"speaker":"Tom Jensen","startTime":1127.031,"endTime":1131.377,"body":"call it systems, so that we can benefit"},{"speaker":"Tom Jensen","startTime":1127.031,"endTime":1131.377,"body":"from synergies between the different"},{"speaker":"Tom Jensen","startTime":1131.377,"endTime":1136.441,"body":"industries, minimize logistical costs,"},{"speaker":"Tom Jensen","startTime":1131.377,"endTime":1136.441,"body":"do just in time type of production"},{"speaker":"Tom Jensen","startTime":1136.441,"endTime":1137.871,"body":"systems, and so on and so forth."},{"speaker":"Tom Raftery","startTime":1138.316,"endTime":1141.376,"body":"Okay, and you made"},{"speaker":"Tom Raftery","startTime":1138.316,"endTime":1141.376,"body":"reference earlier to circular"},{"speaker":"Tom Raftery","startTime":1141.376,"endTime":1145.636,"body":"economy and getting your footprint"},{"speaker":"Tom Raftery","startTime":1141.376,"endTime":1145.636,"body":"down as close to zero as possible."},{"speaker":"Tom Raftery","startTime":1146.026,"endTime":1148.9650000000001,"body":"Does this mean that you will"},{"speaker":"Tom Raftery","startTime":1146.026,"endTime":1148.9650000000001,"body":"start recycling batteries as well?"},{"speaker":"Tom Jensen","startTime":1149.925,"endTime":1151.075,"body":"Yeah, absolutely."},{"speaker":"Tom Jensen","startTime":1151.075,"endTime":1156.845,"body":"So many sort of have a little bit of a"},{"speaker":"Tom Jensen","startTime":1151.075,"endTime":1156.845,"body":"misguided conception around recycling."},{"speaker":"Tom Jensen","startTime":1156.905,"endTime":1160.488,"body":"Not misguided maybe, but at least"},{"speaker":"Tom Jensen","startTime":1156.905,"endTime":1160.488,"body":"a little bit, not so precise way."},{"speaker":"Tom Jensen","startTime":1160.968,"endTime":1165.078,"body":"So the first thing we focus on"},{"speaker":"Tom Jensen","startTime":1160.968,"endTime":1165.078,"body":"is what we label process, scrap."},{"speaker":"Tom Jensen","startTime":1165.678,"endTime":1169.713,"body":"So recycling of the initial batteries"},{"speaker":"Tom Jensen","startTime":1165.678,"endTime":1169.713,"body":"we produce that don't meet the"},{"speaker":"Tom Jensen","startTime":1169.713,"endTime":1171.663,"body":"specifications that our customers require."},{"speaker":"Tom Jensen","startTime":1172.113,"endTime":1175.5030000000002,"body":"Every battery producer will have"},{"speaker":"Tom Jensen","startTime":1172.113,"endTime":1175.5030000000002,"body":"a scrap rate in its production,"},{"speaker":"Tom Jensen","startTime":1176.163,"endTime":1179.891,"body":"and that scrap still consists of"},{"speaker":"Tom Jensen","startTime":1176.163,"endTime":1179.891,"body":"active materials that are expensive."},{"speaker":"Tom Jensen","startTime":1180.281,"endTime":1185.261,"body":"So to be able to recycle that material"},{"speaker":"Tom Jensen","startTime":1180.281,"endTime":1185.261,"body":"back into sort of a new production"},{"speaker":"Tom Jensen","startTime":1185.261,"endTime":1188.501,"body":"batch is going to be quite important"},{"speaker":"Tom Jensen","startTime":1185.261,"endTime":1188.501,"body":"and is important for everyone."},{"speaker":"Tom Jensen","startTime":1188.501,"endTime":1192.0710000000001,"body":"And we are very focused on that,"},{"speaker":"Tom Jensen","startTime":1188.501,"endTime":1192.0710000000001,"body":"and we, again, have a technology"},{"speaker":"Tom Jensen","startTime":1192.0710000000001,"endTime":1195.491,"body":"that makes that a lot easier than"},{"speaker":"Tom Jensen","startTime":1192.0710000000001,"endTime":1195.491,"body":"what the conventional solutions do."},{"speaker":"Tom Jensen","startTime":1196.526,"endTime":1197.9360000000001,"body":"So we're quite excited about that."},{"speaker":"Tom Jensen","startTime":1197.996,"endTime":1201.836,"body":"Then of course, as I just mentioned"},{"speaker":"Tom Jensen","startTime":1197.996,"endTime":1201.836,"body":"earlier, our batteries are,"},{"speaker":"Tom Jensen","startTime":1202.076,"endTime":1206.546,"body":"you know, destined or planned"},{"speaker":"Tom Jensen","startTime":1202.076,"endTime":1206.546,"body":"to last for at least 20 years."},{"speaker":"Tom Jensen","startTime":1206.786,"endTime":1207.086,"body":"Yeah."},{"speaker":"Tom Jensen","startTime":1207.596,"endTime":1212.876,"body":"So it's not super urgent for us to"},{"speaker":"Tom Jensen","startTime":1207.596,"endTime":1212.876,"body":"sort of have a recycling of end of life"},{"speaker":"Tom Jensen","startTime":1212.876,"endTime":1218.4560000000001,"body":"batteries in place now, even though"},{"speaker":"Tom Jensen","startTime":1212.876,"endTime":1218.4560000000001,"body":"we do see the opportunity to take in"},{"speaker":"Tom Jensen","startTime":1218.846,"endTime":1223.7,"body":"other end of life batteries from other"},{"speaker":"Tom Jensen","startTime":1218.846,"endTime":1223.7,"body":"industries back into our solutions"},{"speaker":"Tom Jensen","startTime":1223.7,"endTime":1227.78,"body":"or back into our facilities because"},{"speaker":"Tom Jensen","startTime":1223.7,"endTime":1227.78,"body":"recycling metal that has already been,"},{"speaker":"Tom Jensen","startTime":1228.3500000000001,"endTime":1232.996,"body":"let's say mined and processed and then"},{"speaker":"Tom Jensen","startTime":1228.3500000000001,"endTime":1232.996,"body":"reusing it makes a lot of sense, right?"},{"speaker":"Tom Jensen","startTime":1232.996,"endTime":1238.1860000000001,"body":"So we do believe over time as this"},{"speaker":"Tom Jensen","startTime":1232.996,"endTime":1238.1860000000001,"body":"industry reaches, let's call it some"},{"speaker":"Tom Jensen","startTime":1238.1860000000001,"endTime":1242.656,"body":"sort of equilibrium or steady state"},{"speaker":"Tom Jensen","startTime":1238.1860000000001,"endTime":1242.656,"body":"production capacity relative to demand,"},{"speaker":"Tom Jensen","startTime":1243.106,"endTime":1249.048,"body":"which we actually think will be in the"},{"speaker":"Tom Jensen","startTime":1243.106,"endTime":1249.048,"body":"20,000 gigaWatt hours per annum level,"},{"speaker":"Tom Jensen","startTime":1249.258,"endTime":1252.048,"body":"more than 20 times where it is today."},{"speaker":"Tom Jensen","startTime":1252.932,"endTime":1258.122,"body":"Uh, We think that we can"},{"speaker":"Tom Jensen","startTime":1252.932,"endTime":1258.122,"body":"probably move towards 70 to"},{"speaker":"Tom Jensen","startTime":1258.122,"endTime":1260.755,"body":"80% recycled materials, right?"},{"speaker":"Tom Jensen","startTime":1260.755,"endTime":1262.7350000000001,"body":"But that's kind of 20,"},{"speaker":"Tom Jensen","startTime":1260.755,"endTime":1262.7350000000001,"body":"30 years into the future."},{"speaker":"Tom Jensen","startTime":1263.2150000000001,"endTime":1267.025,"body":"And this will obviously be lagging"},{"speaker":"Tom Jensen","startTime":1263.2150000000001,"endTime":1267.025,"body":"the increase in ramp up in production."},{"speaker":"Tom Jensen","startTime":1267.458,"endTime":1270.864,"body":"But yes, recycling is"},{"speaker":"Tom Jensen","startTime":1267.458,"endTime":1270.864,"body":"important first and foremost."},{"speaker":"Tom Jensen","startTime":1271.3890000000001,"endTime":1277.56,"body":"Process, scrap in the industrial"},{"speaker":"Tom Jensen","startTime":1271.3890000000001,"endTime":1277.56,"body":"facilities and then recycling existing"},{"speaker":"Tom Jensen","startTime":1277.565,"endTime":1279.91,"body":"end of life matters will be important."},{"speaker":"Tom Jensen","startTime":1279.91,"endTime":1285.7,"body":"Increasingly, as you know, the end of"},{"speaker":"Tom Jensen","startTime":1279.91,"endTime":1285.7,"body":"life batteries from the initial wave"},{"speaker":"Tom Jensen","startTime":1285.7,"endTime":1290.77,"body":"of electrification on transportation"},{"speaker":"Tom Jensen","startTime":1285.7,"endTime":1290.77,"body":"becomes available for recycling, and"},{"speaker":"Tom Jensen","startTime":1290.775,"endTime":1292.93,"body":"that is now starting to happen in Norway."},{"speaker":"Tom Jensen","startTime":1293.56,"endTime":1297.43,"body":"And as you know, your listeners might"},{"speaker":"Tom Jensen","startTime":1293.56,"endTime":1297.43,"body":"recognize, Norway is the country"},{"speaker":"Tom Jensen","startTime":1297.49,"endTime":1301.3,"body":"globally with by far the highest"},{"speaker":"Tom Jensen","startTime":1297.49,"endTime":1301.3,"body":"penetration of electric vehicles."},{"speaker":"Tom Jensen","startTime":1301.3,"endTime":1304.91,"body":"And we started the journey more"},{"speaker":"Tom Jensen","startTime":1301.3,"endTime":1304.91,"body":"than 10 years ago, so actually"},{"speaker":"Tom Jensen","startTime":1305.1000000000001,"endTime":1308.905,"body":"starting to get a meaningful"},{"speaker":"Tom Jensen","startTime":1305.1000000000001,"endTime":1308.905,"body":"amount of end of life batteries."},{"speaker":"Tom Jensen","startTime":1309.4750000000001,"endTime":1314.755,"body":"But these end of life batteries from EVs"},{"speaker":"Tom Jensen","startTime":1309.4750000000001,"endTime":1314.755,"body":"are in many instances also repurposed"},{"speaker":"Tom Jensen","startTime":1314.755,"endTime":1316.7350000000001,"body":"for energy storage applications, right?"},{"speaker":"Tom Jensen","startTime":1317.095,"endTime":1321.865,"body":"So of course when you have invested a lot"},{"speaker":"Tom Jensen","startTime":1317.095,"endTime":1321.865,"body":"of money and put a lot of capital into"},{"speaker":"Tom Jensen","startTime":1321.865,"endTime":1325.075,"body":"producing a battery, you would like that"},{"speaker":"Tom Jensen","startTime":1321.865,"endTime":1325.075,"body":"battery to last for as long as possible."},{"speaker":"Tom Jensen","startTime":1325.585,"endTime":1329.621,"body":"So I think recycling plays in a"},{"speaker":"Tom Jensen","startTime":1325.585,"endTime":1329.621,"body":"very important role, not only from"},{"speaker":"Tom Jensen","startTime":1329.621,"endTime":1332.521,"body":"an economic point of view, but also"},{"speaker":"Tom Jensen","startTime":1329.621,"endTime":1332.521,"body":"from an environmental point of view."},{"speaker":"Tom Jensen","startTime":1333.181,"endTime":1337.721,"body":"But I still have some question marks"},{"speaker":"Tom Jensen","startTime":1333.181,"endTime":1337.721,"body":"around timing on when it sort of"},{"speaker":"Tom Jensen","startTime":1337.721,"endTime":1343.082,"body":"becomes a meaningful number of our"},{"speaker":"Tom Jensen","startTime":1337.721,"endTime":1343.082,"body":"materials going into production."},{"speaker":"Tom Raftery","startTime":1343.742,"endTime":1344.972,"body":"Sure, Sure, sure."},{"speaker":"Tom Raftery","startTime":1345.0620000000001,"endTime":1345.662,"body":"That makes sense."},{"speaker":"Tom Raftery","startTime":1346.3220000000001,"endTime":1351.346,"body":"And when will you actually start"},{"speaker":"Tom Raftery","startTime":1346.3220000000001,"endTime":1351.346,"body":"producing batteries because you're still"},{"speaker":"Tom Raftery","startTime":1351.346,"endTime":1353.346,"body":"in ramp up mode, as I understand it."},{"speaker":"Tom Jensen","startTime":1354.536,"endTime":1355.126,"body":"That's right Tom."},{"speaker":"Tom Jensen","startTime":1355.126,"endTime":1360.278,"body":"So we, went public on the New York Stock"},{"speaker":"Tom Jensen","startTime":1355.126,"endTime":1360.278,"body":"Exchange on the 8th of July last year."},{"speaker":"Tom Jensen","startTime":1361.428,"endTime":1366.778,"body":"We did that based on a reasonably"},{"speaker":"Tom Jensen","startTime":1361.428,"endTime":1366.778,"body":"straightforward value proposition"},{"speaker":"Tom Jensen","startTime":1366.838,"endTime":1370.1380000000001,"body":"that is built up around speed,"},{"speaker":"Tom Jensen","startTime":1366.838,"endTime":1370.1380000000001,"body":"scale, and sustainability."},{"speaker":"Tom Jensen","startTime":1370.228,"endTime":1373.978,"body":"These are the three pillars, if you"},{"speaker":"Tom Jensen","startTime":1370.228,"endTime":1373.978,"body":"like, of our strategy and everything"},{"speaker":"Tom Jensen","startTime":1373.978,"endTime":1377.008,"body":"we do is linked to that in some way."},{"speaker":"Tom Jensen","startTime":1377.038,"endTime":1380.608,"body":"If we can't move faster or if we can't"},{"speaker":"Tom Jensen","startTime":1377.038,"endTime":1380.608,"body":"increase the scale, or if we can't do it"},{"speaker":"Tom Jensen","startTime":1380.608,"endTime":1382.288,"body":"more sustainable, we just don't do it."},{"speaker":"Tom Jensen","startTime":1383.0320000000002,"endTime":1388.372,"body":"So 10 days after we went public, we made"},{"speaker":"Tom Jensen","startTime":1383.0320000000002,"endTime":1388.372,"body":"our first investment decision into our"},{"speaker":"Tom Jensen","startTime":1389.082,"endTime":1394.102,"body":"what we label customer qualification"},{"speaker":"Tom Jensen","startTime":1389.082,"endTime":1394.102,"body":"plant, and many call it a pilot, but I"},{"speaker":"Tom Jensen","startTime":1394.102,"endTime":1398.348,"body":"think that's kind of a misguided name on"},{"speaker":"Tom Jensen","startTime":1394.102,"endTime":1398.348,"body":"this because it's much more than a pilot."},{"speaker":"Tom Jensen","startTime":1398.4080000000001,"endTime":1403.178,"body":"It's actually an actual industrial"},{"speaker":"Tom Jensen","startTime":1398.4080000000001,"endTime":1403.178,"body":"scale production line of the batteries"},{"speaker":"Tom Jensen","startTime":1403.183,"endTime":1404.858,"body":"that we aim to produce commercially."},{"speaker":"Tom Jensen","startTime":1405.438,"endTime":1409.308,"body":"We will start up that facility"},{"speaker":"Tom Jensen","startTime":1405.438,"endTime":1409.308,"body":"around Christmas this year."},{"speaker":"Tom Jensen","startTime":1409.608,"endTime":1413.422,"body":"So, we will be starting to"},{"speaker":"Tom Jensen","startTime":1409.608,"endTime":1413.422,"body":"ship batteries to our customers"},{"speaker":"Tom Jensen","startTime":1413.962,"endTime":1416.5420000000001,"body":"during the first quarter of 2023."},{"speaker":"Tom Jensen","startTime":1417.2440000000001,"endTime":1420.1970000000001,"body":"We know we're gonna have a lot of"},{"speaker":"Tom Jensen","startTime":1417.2440000000001,"endTime":1420.1970000000001,"body":"headache when we sta scale up that"},{"speaker":"Tom Jensen","startTime":1420.1970000000001,"endTime":1424.337,"body":"facility because everyone that"},{"speaker":"Tom Jensen","startTime":1420.1970000000001,"endTime":1424.337,"body":"produces batteries have headache."},{"speaker":"Tom Jensen","startTime":1424.9940000000001,"endTime":1429.614,"body":"But we have given ourselves 18"},{"speaker":"Tom Jensen","startTime":1424.9940000000001,"endTime":1429.614,"body":"months of training, ground material,"},{"speaker":"Tom Jensen","startTime":1429.614,"endTime":1431.194,"body":"testing, operator training."},{"speaker":"Tom Jensen","startTime":1431.925,"endTime":1433.635,"body":"process optimization, et cetera."},{"speaker":"Tom Jensen","startTime":1434.2350000000001,"endTime":1438.615,"body":"Before our giga Arctic facility,"},{"speaker":"Tom Jensen","startTime":1434.2350000000001,"endTime":1438.615,"body":"which is our first commercial scale"},{"speaker":"Tom Jensen","startTime":1438.7050000000002,"endTime":1444.2250000000001,"body":"Gigafactory, which we aim to start"},{"speaker":"Tom Jensen","startTime":1438.7050000000002,"endTime":1444.2250000000001,"body":"producing from in the first half of 2024."},{"speaker":"Tom Jensen","startTime":1444.7050000000002,"endTime":1447.915,"body":"So we already started to break"},{"speaker":"Tom Jensen","startTime":1444.7050000000002,"endTime":1447.915,"body":"ground on the larger gigafactory"},{"speaker":"Tom Jensen","startTime":1448.305,"endTime":1449.998,"body":"and poor concrete and so on."},{"speaker":"Tom Jensen","startTime":1449.998,"endTime":1455.808,"body":"So we're preparing in a way, the 80,000"},{"speaker":"Tom Jensen","startTime":1449.998,"endTime":1455.808,"body":"square meter land acreage for a more than"},{"speaker":"Tom Jensen","startTime":1455.808,"endTime":1458.238,"body":"a hundred thousand square meter facility."},{"speaker":"Tom Jensen","startTime":1458.785,"endTime":1462.269,"body":"And they will start gradually"},{"speaker":"Tom Jensen","startTime":1458.785,"endTime":1462.269,"body":"implementing production lines that"},{"speaker":"Tom Jensen","startTime":1462.269,"endTime":1465.839,"body":"are similar in size to the one we"},{"speaker":"Tom Jensen","startTime":1462.269,"endTime":1465.839,"body":"have in the customer qualification"},{"speaker":"Tom Jensen","startTime":1465.839,"endTime":1468.275,"body":"plant during the first half of 2024."},{"speaker":"Tom Jensen","startTime":1468.785,"endTime":1472.4450000000002,"body":"And then we will gradually implement up to"},{"speaker":"Tom Jensen","startTime":1468.785,"endTime":1472.4450000000002,"body":"eight production lines into that facility."},{"speaker":"Tom Jensen","startTime":1473.19,"endTime":1480.54,"body":"And make that a 29 gigaWatt hour nameplate"},{"speaker":"Tom Jensen","startTime":1473.19,"endTime":1480.54,"body":"capacity facility producing LFP based"},{"speaker":"Tom Jensen","startTime":1480.54,"endTime":1482.94,"body":"batteries for energy storage applications."},{"speaker":"Tom Jensen","startTime":1483.1200000000001,"endTime":1486.3,"body":"So that's a little bit where"},{"speaker":"Tom Jensen","startTime":1483.1200000000001,"endTime":1486.3,"body":"we are in the rollout of this."},{"speaker":"Tom Jensen","startTime":1486.755,"endTime":1492.5700000000002,"body":"So first lithium ion batteries"},{"speaker":"Tom Jensen","startTime":1486.755,"endTime":1492.5700000000002,"body":"with 24M technology for energy"},{"speaker":"Tom Jensen","startTime":1492.5700000000002,"endTime":1496.6000000000001,"body":"storage applications coming out"},{"speaker":"Tom Jensen","startTime":1492.5700000000002,"endTime":1496.6000000000001,"body":"to a Norway just after Christmas."},{"speaker":"Tom Raftery","startTime":1497.19,"endTime":1497.7,"body":"Fantastic."},{"speaker":"Tom Raftery","startTime":1497.8200000000002,"endTime":1501.66,"body":"Great, Tom, we're coming towards"},{"speaker":"Tom Raftery","startTime":1497.8200000000002,"endTime":1501.66,"body":"the end of the podcast now."},{"speaker":"Tom Raftery","startTime":1501.66,"endTime":1502.92,"body":"Is there any question."},{"speaker":"Tom Raftery","startTime":1503.04,"endTime":1507.15,"body":"I haven't asked you that you wish"},{"speaker":"Tom Raftery","startTime":1503.04,"endTime":1507.15,"body":"I had or any aspect of this we"},{"speaker":"Tom Raftery","startTime":1507.15,"endTime":1510.3400000000001,"body":"haven't explored that you think it's"},{"speaker":"Tom Raftery","startTime":1507.15,"endTime":1510.3400000000001,"body":"interesting for people to be aware of?"},{"speaker":"Tom Jensen","startTime":1512.0800000000002,"endTime":1514.761,"body":"Well, maybe just I"},{"speaker":"Tom Jensen","startTime":1512.0800000000002,"endTime":1514.761,"body":"think you've asked very relevant"},{"speaker":"Tom Jensen","startTime":1514.761,"endTime":1516.5910000000001,"body":"questions and I think this is great."},{"speaker":"Tom Jensen","startTime":1516.5910000000001,"endTime":1521.931,"body":"I think what is important for me to sort"},{"speaker":"Tom Jensen","startTime":1516.5910000000001,"endTime":1521.931,"body":"of get across whenever I'm talking to"},{"speaker":"Tom Jensen","startTime":1521.931,"endTime":1526.971,"body":"people who are interested in what we're"},{"speaker":"Tom Jensen","startTime":1521.931,"endTime":1526.971,"body":"doing is that from a climate change"},{"speaker":"Tom Jensen","startTime":1526.971,"endTime":1532.5810000000001,"body":"mitigation point of view, decarbonizing"},{"speaker":"Tom Jensen","startTime":1526.971,"endTime":1532.5810000000001,"body":"transportation and decarbonizing energy"},{"speaker":"Tom Jensen","startTime":1532.5810000000001,"endTime":1537.921,"body":"systems, probably the most important"},{"speaker":"Tom Jensen","startTime":1532.5810000000001,"endTime":1537.921,"body":"things we do over the coming decades."},{"speaker":"Tom Jensen","startTime":1538.986,"endTime":1545.236,"body":"And the most mature available technology"},{"speaker":"Tom Jensen","startTime":1538.986,"endTime":1545.236,"body":"for doing that is lithium ion batteries."},{"speaker":"Tom Jensen","startTime":1546.076,"endTime":1549.306,"body":"So lithium ion battery is obvious in"},{"speaker":"Tom Jensen","startTime":1546.076,"endTime":1549.306,"body":"terms of getting it into decarbonizing"},{"speaker":"Tom Jensen","startTime":1549.306,"endTime":1553.266,"body":"transportation, but it's equally"},{"speaker":"Tom Jensen","startTime":1549.306,"endTime":1553.266,"body":"important to decarbonize energy systems."},{"speaker":"Tom Jensen","startTime":1553.881,"endTime":1559.101,"body":"Where a very large fraction of the CO2"},{"speaker":"Tom Jensen","startTime":1553.881,"endTime":1559.101,"body":"emissions come from coal based power"},{"speaker":"Tom Jensen","startTime":1559.371,"endTime":1561.621,"body":"and or gas fired power plants and so on."},{"speaker":"Tom Jensen","startTime":1562.281,"endTime":1567.0810000000001,"body":"We need as a species to stop doing that"},{"speaker":"Tom Jensen","startTime":1562.281,"endTime":1567.0810000000001,"body":"much faster than most people realize."},{"speaker":"Tom Jensen","startTime":1567.681,"endTime":1573.441,"body":"We need to cut CO2 emissions by"},{"speaker":"Tom Jensen","startTime":1567.681,"endTime":1573.441,"body":"50% by the end of this decade"},{"speaker":"Tom Jensen","startTime":1573.8110000000001,"endTime":1575.641,"body":"i.e in less than eight years."},{"speaker":"Tom Jensen","startTime":1576.671,"endTime":1581.256,"body":"And it's impossible without massive"},{"speaker":"Tom Jensen","startTime":1576.671,"endTime":1581.256,"body":"scale up of renewable energy and"},{"speaker":"Tom Jensen","startTime":1581.256,"endTime":1584.346,"body":"with massive scale up of renewable"},{"speaker":"Tom Jensen","startTime":1581.256,"endTime":1584.346,"body":"energy, you need massive storage"},{"speaker":"Tom Jensen","startTime":1584.351,"endTime":1586.116,"body":"solutions to balance out that."},{"speaker":"Tom Jensen","startTime":1586.6860000000001,"endTime":1592.4460000000001,"body":"So I would like to sort of say biased"},{"speaker":"Tom Jensen","startTime":1586.6860000000001,"endTime":1592.4460000000001,"body":"as I am, that lithium ion batteries"},{"speaker":"Tom Jensen","startTime":1592.476,"endTime":1597.606,"body":"is probably one of the core, if not"},{"speaker":"Tom Jensen","startTime":1592.476,"endTime":1597.606,"body":"the core catalyst for the energy"},{"speaker":"Tom Jensen","startTime":1597.606,"endTime":1598.9660000000001,"body":"transition in the coming decade."},{"speaker":"Tom Raftery","startTime":1599.866,"endTime":1600.616,"body":"Sure, Sure."},{"speaker":"Tom Raftery","startTime":1601.521,"endTime":1602.511,"body":"A hundred percent in agreement."},{"speaker":"Tom Raftery","startTime":1603.005,"endTime":1608.855,"body":"Tom, if people would like to know more"},{"speaker":"Tom Raftery","startTime":1603.005,"endTime":1608.855,"body":"about yourself or about Freyr or any of"},{"speaker":"Tom Raftery","startTime":1608.885,"endTime":1612.365,"body":"the things we discussed in the podcast"},{"speaker":"Tom Raftery","startTime":1608.885,"endTime":1612.365,"body":"today, where would you have me send them?"},{"speaker":"Tom Jensen","startTime":1612.978,"endTime":1617.508,"body":"Well, you can send them to"},{"speaker":"Tom Jensen","startTime":1612.978,"endTime":1617.508,"body":"our webpage on www freyr battery.com."},{"speaker":"Tom Jensen","startTime":1618.058,"endTime":1622.153,"body":"And on that webpage, you will see"},{"speaker":"Tom Jensen","startTime":1618.058,"endTime":1622.153,"body":"all the relevant contact information"},{"speaker":"Tom Jensen","startTime":1622.22,"endTime":1624.011,"body":"and who to sort of get in touch with."},{"speaker":"Tom Jensen","startTime":1624.866,"endTime":1630.116,"body":"We invite everyone who is interested"},{"speaker":"Tom Jensen","startTime":1624.866,"endTime":1630.116,"body":"in this space to join us on our journey"},{"speaker":"Tom Jensen","startTime":1630.132,"endTime":1635.232,"body":"be it professionals who want to have"},{"speaker":"Tom Jensen","startTime":1630.132,"endTime":1635.232,"body":"exciting career opportunities, be it"},{"speaker":"Tom Jensen","startTime":1635.232,"endTime":1639.2820000000002,"body":"suppliers who want to provide us with"},{"speaker":"Tom Jensen","startTime":1635.232,"endTime":1639.2820000000002,"body":"cutting edge solutions, be it customers"},{"speaker":"Tom Jensen","startTime":1639.2820000000002,"endTime":1643.902,"body":"who want to buy the cleanest battery"},{"speaker":"Tom Jensen","startTime":1639.2820000000002,"endTime":1643.902,"body":"solutions on the planet, or be it others,"},{"speaker":"Tom Jensen","startTime":1643.932,"endTime":1645.752,"body":"investors or the like that are interested."},{"speaker":"Tom Jensen","startTime":1646.287,"endTime":1651.346,"body":"In participating in this extremely"},{"speaker":"Tom Jensen","startTime":1646.287,"endTime":1651.346,"body":"exciting and, and rewarding not only"},{"speaker":"Tom Jensen","startTime":1651.346,"endTime":1656.776,"body":"financially, but also from a purpose"},{"speaker":"Tom Jensen","startTime":1651.346,"endTime":1656.776,"body":"driven perspective journey that we're on."},{"speaker":"Tom Raftery","startTime":1657.491,"endTime":1657.971,"body":"Fantastic."},{"speaker":"Tom Raftery","startTime":1658.391,"endTime":1658.661,"body":"Tom."},{"speaker":"Tom Raftery","startTime":1658.661,"endTime":1659.681,"body":"There's been really interesting."},{"speaker":"Tom Raftery","startTime":1659.681,"endTime":1661.461,"body":"Thanks a million for coming"},{"speaker":"Tom Raftery","startTime":1659.681,"endTime":1661.461,"body":"on the podcast today."},{"speaker":"Tom Jensen","startTime":1662.5610000000001,"endTime":1663.256,"body":"Thank you, Tom."},{"speaker":"Tom Jensen","startTime":1663.316,"endTime":1667.396,"body":"Pleasure to be here and let me know if"},{"speaker":"Tom Jensen","startTime":1663.316,"endTime":1667.396,"body":"I can be of help in any future podcast."},{"speaker":"Tom Raftery","startTime":1668.185,"endTime":1669.545,"body":"Okay, we've"},{"speaker":"Tom Raftery","startTime":1668.185,"endTime":1669.545,"body":"come to the end of the show."},{"speaker":"Tom Raftery","startTime":1670.4650000000001,"endTime":1671.605,"body":"Thanks everyone for listening."},{"speaker":"Tom Raftery","startTime":1672.115,"endTime":1675.775,"body":"If you'd like to know more about"},{"speaker":"Tom Raftery","startTime":1672.115,"endTime":1675.775,"body":"Climate 21, feel free to drop me an"},{"speaker":"Tom Raftery","startTime":1675.775,"endTime":1682.545,"body":"email to Tom Raftery at outlook.com, or"},{"speaker":"Tom Raftery","startTime":1675.775,"endTime":1682.545,"body":"connect with me on LinkedIn or Twitter."},{"speaker":"Tom Raftery","startTime":1683.635,"endTime":1687.355,"body":"If you like the show, please, don't"},{"speaker":"Tom Raftery","startTime":1683.635,"endTime":1687.355,"body":"forget to click follow on it in your"},{"speaker":"Tom Raftery","startTime":1687.355,"endTime":1691.885,"body":"podcast application of choice to get new"},{"speaker":"Tom Raftery","startTime":1687.355,"endTime":1691.885,"body":"episodes as soon as they're published."},{"speaker":"Tom Raftery","startTime":1692.515,"endTime":1695.4550000000002,"body":"Also, please don't forget to"},{"speaker":"Tom Raftery","startTime":1692.515,"endTime":1695.4550000000002,"body":"rate and review the podcast."},{"speaker":"Tom Raftery","startTime":1695.665,"endTime":1699.545,"body":"It really does help new people"},{"speaker":"Tom Raftery","startTime":1695.665,"endTime":1699.545,"body":"to find the show Thanks."},{"speaker":"Tom Raftery","startTime":1700.375,"endTime":1701.305,"body":"Catch you all next time."}]}