FREYR Battery shares are trading higher after the company announced it secured a €122 million grant from the European Union Innovation Fund to support a joint venture cathode active materials manufacturing project in Finland.
Portfolio Pulse from Benzinga Newsdesk
FREYR Battery's stock is rising following the announcement of a €122 million grant from the EU Innovation Fund for a joint venture in Finland.
October 24, 2024 | 1:51 pm
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FREYR Battery has received a significant €122 million grant from the EU Innovation Fund to support a joint venture in Finland, which is positively impacting its stock price.
The €122 million grant from the EU Innovation Fund is a substantial financial boost for FREYR Battery, supporting its joint venture in Finland. This funding is likely to enhance the company's manufacturing capabilities and future revenue potential, leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100