Hello and welcome to FREYR Battery’s Fourth Quarter and Full Year 2023 Conference Call. With me today on the call are Tom Einar Jensen, our Executive Chairperson; Birgir Steen, our Chief Executive Officer; Oscar Brown, our Chief Financial Officer; Jeremy Bezdek, Executive Vice President of Corporate Development and President FREYR Battery US. During today’s call, management may make forward-looking statements about our business. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expectations. Most of these factors are outside FREYR’s control and are difficult to predict. Additional information about risk factors that could materially affect our business are available on FREYR’s S-1 and Annual Report on Form 10-K filed with the Securities and Exchange Commission, which are available on the Investor Relations section of our website. With that, I'll turn the call over to Tom.

Thank you, Jeff and welcome everyone to this fourth quarter earnings call; FREYR’s 11th earnings call since we went public on the New York Stock Exchange on July 8, 2021. I want to thank all of our investors, shareholders and stakeholders for their continued support, even as we have been navigating very challenging times of strong headwinds, both in the markets and as a company. I want to take this opportunity to provide some overall strategic reflections and perspective on where we are, where we're going, and why we're confident that we're on the right track to succeed as a company. Even though it is extremely challenging to build a battery company, we have been able to turn adversity into advantage and we now see that the actions we have undertaken since the third quarter reporting are starting to yield significant operational and commercial traction. First of all, let me underline that the energy transition is happening faster than most realize, and most are able to estimate. EV sales momentum seem to be back on-track, with EV sales now showing 69% growth year-over-year from January ’23 to January ’24; and now surpassing 1 million cars in January for the first time ever. All markets are growing and year-end estimates keep trending upwards in most markets. The ESS market in 2023 was furthermore twice as high as initial estimates by reputable agencies, and closed above 100 gigawatt hours per year for the first time, and solar deployment continues to develop at record pace. Everything else that can be electrified will be electrified, and be driven by continued energy density improvements and strong cost reductions. All of this requires massive amount of automotive, domestic commercial and industrial scale storage solutions, and everything else that will be electrified for balancing out the variability…

Thanks, Tom, and hello to everyone joining today's call. Turning to Slide 4, let's look at where we stand today as our team is working on a number of exciting opportunities to generate value for you, our shareholders. As I alluded to in this morning's earnings press release, the changes we made in Q4 throughout the company are bearing fruit. We've cut cash outflow by more than half year-on-year and flattened the organizational structure to ensure information sharing, collaboration across our teams, and accelerated execution against our key objectives. As Oscar will touch upon later, battery production is capital intensive, and we're committed to deploying your capital to only the highest value opportunities while we focus on our two capital formation initiatives. The DoE Title 17 application through the loan programs office and project level equity discussions for Giga America. Our more run at CQP is the other area where we're seeing impressive performance from our people in close collaboration with our global network of vendors and strategic partners. Mike Browse [ph], our site leading [indiscernible] brings more than 30 years of experience working in and managing complex manufacturing and processing facilities, and he and his new team have driven strong progress in recent months. During the month of February, Mike and the team brought the CQP into operating mode on a dry room conditions and we're now producing automated electrodes with active electrolyte slurry. This is a meaningful step towards fully automated production at Giga scale rate. We're in the process of transitioning the CQP from installation and commissioning to production of sample battery cells for key customers, which is FREYR’s number one priority for the first half of 2024. The CQP is our means to achieve technical validation and broad customer acceptance of the 24M semi-solid product family.…

Thanks, Birgir. In addition to the opportunities that Birgir just described on Slide 6, we have been reviewing several possible inorganic growth opportunities where FREYR’s balance sheet is valued as a key component for growth. We're not in a position to speak about any of these opportunities today but we do believe there are deals available to us that bring growth and the ability to generate revenue in the near-term through possible acquisitions where synergies could be highly valuable. We will continue to evaluate these opportunities as we move forward, and we look forward to sharing those deals as they materialize. Birgir?

Thanks, Jeremy. Moving to Slide 7, let's turn our attention to the CQP. This morning, we were pleased to announce that the asset Mo [ph] Team has realized another important milestone on the path to reaching fully automated production by successfully conducting anode casting trials with live electrolyte slurry. Our people are now operating in a dry room environment as you can see from the photos on the right of the slide, which means that our collective mindset has shifted from building tools that will produce battery cells to approaching the start of samples of production for our customers. There are more milestones directly ahead in the first half of 2024. The next item on our punch list is to integrate the casting web across the cathode, anode and merge kits using a next-generation multi-carrier system or MCS. Upon completion of that task, we can move to the anticipated start of automated production of functional sample cells for a key customers in H1. Producing customer sample cells with a full automation of the CQP will be a major achievement and is the gateway to validation of the semi-solid process technology, demonstrating product performance attributes that can convert offtake agreements to binding sales contracts, and catalyzing capital formation through the DoE Title 17 process, and a project level equity race for Giga America. Our ultimate goal at the CQP therefore, is bringing the next-generation U.S. based technology to Giga scale production in Coweta County, Georgia, and in turn, capitalizing on the benefits of the Inflation Reduction Act. Now, I'll turn it back over to Jeremy to walk you through the latest on Giga America.

Thanks, Birgir. Moving to Slide 8, the Giga America project team is excited about the progress we're making at the CQP, and we look forward to being the flagship project that allows us to industrialize that technology at scale. As a reminder, we currently owe 368 acres in Coweta County, Georgia. This location sits deep in the heart of the south-eastern United States, which is quickly becoming the clean energy and battery hub for the U.S. We continue to progress two distinct tracks that will enable us to develop hundreds of jobs in Coweta County while investing multiple billions of dollars of capital in the state of Georgia. The semi-solid technology track utilizing the 24M tech continues to advance on the back of the achievements realized at the CQP. As Birgir mentioned, we are advancing our Title 17 application in deep coordination with the DoE Loans Program Office, and we are focused on securing a conditional commitment from the DoE before the end of 2024. As we progress into the second half of the year, we will re-energize our project level equity conversations demonstrating success from the CQP and the opportunity to fund the debt side of the capital stack from The Department of Energy. It is quite likely that the conventional technology track will end up being the first opportunity for production on the Coweta County site. We have been undergoing deep due diligence with multiple technology providers, and we're nearing a decision on which technology we will select to scale on the Georgia site. We look forward to sharing our technology selection in the coming weeks. With the technology access secured, we will quickly move forward with both, project finance and project level equity to fund the project. We believe project level equity can be secured during the second half of the year, which would enable us to move the project execution forward as quickly as possible and get us to a start-up production in 2026 utilizing the conventional technology. I will now turn it over to Oscar for an update on the financial condition of FREYR, as well as an update on the re-domiciliation efforts that we completed in December. Oscar?

Thank you, Jeremy. Moving on to Slide 9; we provide an update regarding our efforts to re-domicile from Luxembourg to The United States, which were indeed successful and effective as of December 31, 2023. I want to thank our shareholders for supporting the transaction with their votes. This move dramatically expands our opportunity for equity index inclusion, as historically only an estimated 3% of our shares were held by index funds compared with a peer average of over 20%. Re-domiciling has the potential to drive incremental holdings of upto 45% of our current market capitalization, if we were held by all the index funds we would qualify for, as well as associated actively managed funds to benchmark against those indices. Moving our domicile to the U.S. has also the added benefit of aligning FREYR with a country that has offered the highest incentives for battery manufacturer in the free world, as well as the world's largest market for our products. The U.S. and Delaware have well understood corporate governance and disclosure requirements, and we will still be able to maintain our European strategies alongside our U.S. efforts. Our main office in the U.S. is Newnan, Georgia, just down the road from our 368 acre plot in Coweta County. Other important benefits of the re-domicile are noted on the slide. Moving now to Slide 10; optimizing our spending. I will review our recent financial results. For the quarter ended December 31, 2023, FREYR reported a net loss of $24 million or $0.17 per share, compared with net income of $25 million for the same period. Net income from last year's period benefited from a $60 million non-cash gain on our warrant liability fair value adjustment due to changes in our stock price. This line item reflects a gain when our stock…

Thanks, Oscar. I'd like to conclude on Slide 12 before we turn to Q&A. It's been an intense start to the year for our team as we evaluate and pursue a number of potentially transformational initiatives for FREYR. To give you a better sense of the road ahead in 2024, we thought you would find it useful for us to share a roadmap of key goals and potential catalysts that we are targeting this year. Many other conversations we're having are confidential, so this list is not exhaustive, but it should give you a reasonable picture of what we're aiming to achieve. Our number one priority at FREYR in H1 2024 is to demonstrate the semi-solid technology at Giga scale at the CQP. Based on a momentum that the entire asset Mo [ph] team has built in coordination with our global network of vendors and partners, we are on-track for this in the first half. On the conventional technology front, we're moving at pace to establish in an accelerated path to commercialization for FREYR, and we're focused on finalizing and announcing an agreement during the first half of 2024. We are also continue to progress our capital formation initiatives. As Oscar mentioned earlier, we're collaborating closely with our colleagues at the DoE Loan Programs Office, and we're engaging with potential project level equity investors about bold [ph] technology tracks for Giga America. Our FREYR 2.0 growth initiative to formalize commercial relationships and pursue the fire project opportunities I highlighted earlier, totaling more than 100 gigawatt hours of collective installed capacity is also gaining momentum. We look forward to sharing more detail about them when it's appropriate. For the second half of the year, we're turning our focus to commercialization and capital formation. With sample cells rolling out of the CQP, we're targeting customer validation of the semi-solid process and product performance characteristics, which we expect to trigger offtake conversions. And finally, we're targeting conditional commitment from the DoE through Title 17 LPO application before year-end 2024, which is also a key catalyst for prospective project equity. Before I turn it over to Jeff for the start of Q&A, I'd like to express my sincere gratitude to our employees around the world at FREYR. From my first day of the job in August last year, you've welcomed me to the team, and you inspired me with your dedication, professionalism and entrepreneurial spirit. On behalf of the FREYR leadership team, and our Board of Directors, thank you for all that you do. And with that, I'll hand it back over to Jeff so we can take your questions.

Thanks, Birgir. Operator, we are ready to open up the line.

[Operator Instructions] And your first question comes line of Tyler DiMatteo from BTIG. Your line is open.

Yes. Hi, good morning, everyone. Thanks for taking the time here. I wanted to start on the DoE loan process, and the conditional commitment component. I guess can you provide a little more color on that -- what shape maybe that could take the form of and a little bit of timing? Just anything else that you can add on that; I am curious to hear kind of maybe at a high level how you're thinking [ph] about that what the conversations have been?

Jeffrey, perhaps you want to pick them up?

Oscar [ph], over to you.

Yes, sorry. I'll take it. Thanks for the question. So on the DoE, it's an iterative process; we've been working with him for some time, as you know. We continue to go kind of back and forth on different drafts and information around our Part 2 application. I remember we’re in Title 17, some of our peers have been in the ATVM program which is more suitable for EV; so a little different process. The main thing to think about during -- around timing is both ourselves, of course, and the DoE are aligned with getting to conditional approval by year-end. So, there is a lot of work to do still; a lot of work to do -- the CQP to continue to provide data from that asset to the DoE. And then, later this year there'll be a former formal due diligence process where they add advisors and really dig into the details of the project. So again, we'll stick with the overall view, which is, targeting a year-end conditional approval.

Okay, great. Thank you. And then on the technology here, as we think about the semi-solid versus the conventional tech -- and we moved through 2024 and 2025. I mean, how do we think about kind of balancing the two? I know, you said, there is potential to maybe bring some revenue and the opportunities -- I think you highlighted five of them, you could maybe bring some of those forward. I mean, just -- how do you think about balancing the two platforms here? And kind of when you want to go to market?

Yes. So as we alluded to, there is a definite opportunity to start serving many of the customers that have been talking to for some time now. And to get going with our module to pack, and then onwards to systems sales to those customers. So one of the things we've been working on is how we can make that happen, even before we have ready production. But we're not going to disclose anything more on that today; we'll look forward to come back to it once we have those deals inked.

Okay, great. Thanks, everyone. Really appreciate the time. I'll turn it back to the queue [ph].

[Operator Instructions] Currently, there are no further questions. I'd like to hand it back to our presenters.

All right. Thank you everyone for dialing in. We appreciate the time and weeks [ph]; so all of you in person. Thanks very much. That'll conclude the call.