Source - Alliance News

Mpac Group PLC - Tadcaster, England-based packaging and automation company - Announces that it has signed a framework agreement with FREYR Battery for an initial three-year period. The agreement means MPac will have the exclusive supply of the casting and unit cell assembly equipment for the battery cell production line in FREYR’s Giga Arctic factory in Norway. FREYR is a developer of clean, next-generation battery capacity.

Chief Executive Tony Steels comments: ‘We have worked closely and effectively with FREYR since being awarded the contract for the development line and I am delighted that our partnership with FREYR has developed into the award of an exclusive agreement to build the first series of production lines for their Gigafactory in Mo I Rana, Norway. I am excited about the opportunity to establish Mpac as a market leading provider of automation equipment to the clean energy sector and to support FREYR in achieving their ambitious growth plans for a more sustainable future.’

Current stock price: 320.00 pence, up 23%

12-month change: down 48%%

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