MPAC GROUP PLC

Capital/Financing Update • Jul 26, 2021

National Storage Mechanism | Additional information

RNS Number : 4681G

Mpac Group PLC

26 July 2021

26 July 2021

Mpac Group plc

FREYR Battery Chooses Mpac Lambert for Supply of Battery Cell Assembly Equipment Package to Customer Qualification Plant

Mpac Group plc, a global leader in high-speed packaging and automation solutions, announces that its Mpac Lambert ("Mpac") business has signed a contract with FREYR Battery ("FREYR") for the supply of the casting and unit cell assembly equipment package to the battery cell production line at FREYR's Customer Qualification Plant ("CQP") in Mo i Rana, Norway.

FREYR is a developer of clean, next-generation battery cell production capacity. Mpac was prequalified to participate in the competitive tender following nearly three years of cooperation with 24M Technologies ("24M") on industrializing and scaling 24M's SemiSolid lithium-ion battery platform technology.

Mpac will leverage 24M's innovative battery casting technology and in-house expertise and experience in automation and mass production systems to construct and install the equipment.

The contract with Mpac also grants FREYR options for delivery of the casting and unit cell assembly equipment packages for FREYR's planned Gigafactories.

Tony Steels, Chief Executive at Mpac Group plc, commented:

"We are delighted to be a partner to Freyr to support them to achieve their vision and play our part as Mpac automation ecosystems to provide know how, equipment and services to industrialise the battery cell energy storage device production, ensuring the achievement of Freyr's ambitious growth plans for a more sustainable future."

Tom Einar Jensen, Chief Executive Officer of FREYR, commented:

"FREYR continues to advance Norway's first lithium-ion battery cell manufacturing facility at industrial scale with a production line developed to our own specifications. The CQP will be used to optimize and industrialize 24M's technology to produce clean, low-cost and high-energy density battery solutions based on renewable energy. We look forward to establishing a long-term partnership with Mpac Lambert through the CQP and potential later Gigafactory development."

For further information, please contact:

Mpac Group plc Tony Steels, Chief Executive Will Wilkins, Group Finance Director	Tel: +44(0)24 7642 1100
Shore Capital (Nominated Adviser & Broker) Patrick Castle Edward Mansfield Sarah Mather Henry Willcocks	Tel: +44(0)20 7468 7923
Hudson Sandler Nick Lyon Nick Moore	Tel: +44(0)20 7796 4133

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