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Battery Startup Freyr Strikes Mutual-Supply Deal With Honeywell

Honeywell will use Freyr’s cells in its energy storage business, while the Norwegian firm will use Honeywell technology in its factories.

Two companies with a stake in the fast-growing energy storage business — Freyr Battery SA and Honeywell International Inc. — have reached an agreement to supply each other, with Honeywell buying battery cells while selling manufacturing technology to the Norwegian startup.

Honeywell will buy 19 gigawatt-hours of Freyr’s battery cells from 2023 through 2030, according to an emailed statement. Financial terms were not disclosed. Honeywell will use the cells in a variety of commercial and industrial applications, including large-scale batteries used to back up wind and solar power to stabilize the electric grid.