Alussa Energy Acquisition Corp. (ALUS) to Combine with FREYR in $1.4Bn Deal

Alussa Energy Acquisition Corp. (NYSE:ALUS) has entered into a definitive agreement to combine with Norwegian battery producer, FREYR, at a pro forma enterprise value of $529 million and an equity value of $1.377 billion. This represents an EV/’25e EBITDA of 0.8x. FREYR is developing environmentally friendly lithium-ion based battery cell facilities in Mo i Rana,
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