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A post on reddit with a very bullish view on the SPAC $ALUS and its merger with norwegian, (soon to be) battery manufacturing company, FREYR, has several key points wrong. Clarification in this thread 
https://www.reddit.com/r/SPACs/comments/lbfa6m/alus_freyr_battery_the_evsolidstate_batteryenergy/
https://www.reddit.com/r/SPACs/comments/lbfa6m/alus_freyr_battery_the_evsolidstate_batteryenergy/
The first thing that catches everyones eye is SOLID-STATE batteries, but in fact these are not solid-state batteries - 24M, the company behind the tech, even states this: https://www.energy-storage.news/news/24m-claims-energy-density-breakthrough-with-semi-solid-lithium-batteries
They call the tech semi solid because they remove a step in the manufacturing process where you dip the electrodes in a solvent, which also requires big ovens for drying afterwards. This is similar to Tesla's Maxwell technology, which is a dry electrode technology.
There is still reason to be bullish on this tech even though it is not solid-state, because it reduces the manufacturing time and cost (time reduced by 1/3 and cost savings of 40%), but if it is competitive has yet to be shown.
Kyocera is currently producing batteries with this tech, licensed from 24M, but I was not able to find any pricing. Most recent news is that they would start mass production in fall of 2020 (probably delayed by covid-19): https://www.inceptivemind.com/kyocera-24m-enerezza-worlds-first-semisolid-li-ion-battery-system/11213/
All off-takers of the battery cells planned to be manufactured is on a Memorandum of Understanding (MoUs), which is not legally binding. I believe this is important because if any other battery manufacturer offers cheaper batteries, they risk losing a lot of planned revenue.
Norway is not a part of the European Union (EU) as indicated, which makes me certain that they a not alligable for any incentives that the European Commision has announced - at least not directly.
For clarification and correct perspective: 43Gwh WAS double of Tesla's Nevada giga factory in 2018 before the ramp of the Model 3 (~250k/year). Though there is no official number, I believe it is at or above 40Gwh by now. 43Gwh is still alot.
The reddit post furthermore indicates that sourcing 3.700 tonnes of cobalt from Glencore is a bullish sign - it is a confusing sign to me. Every other battery manufacuterer is reducing or moving away from cobalt in their batteries due to high price and difficulty in sourcing.
What adds even more to the confusing part is that they have energy storage as their first and main target. Why not use LFP chemistry for this, which does not contain any cobalt? Even 24M themselves indicates this in the article on http://enery-storage.news posted above.
The post further states that 24M has achieved 400-500 Wh/kg. This is most likely a prototype and not at the pilot plant (which is what they are licencing). In 2019 they had an energy density just above 350 wh/kg. To put this in persective Tesla's old batt. tech has ~260 wh/kg
I think it is important to understand, when investing in FREYR, that they are a battery manufacturer with licenced battery technology. They need alot of capital to start up a mass production of batteries - more than they have now IMO.
The process of getting to 43Gwh of battery cells per year is also a ramp - it will take many years to reach, with low volumes to start and with high costs. So don't expect a profit right away.
Above thread is not investment advice but I hope it helps anyone who is considering investing in FREYR / $ALUS.
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