Cost and availability of raw materials is the biggest among a number of challenges that must be addressed if US-made products will be able to meet demand for battery storage in the country.

FREYR Battery, which is targeting the battery storage sector with its product line, has received a €100 million (US$112.29 million) grant commitment.

European Commission’s categorisation of energy storage technologies in the Net Zero Industry Act is a “huge victory,” one source said.