KKR Is Said in Talks to Invest $500 Million in Freyr Battery (1)

Freyr Battery SA is in talks with KKR & Co. Inc. about raising financing, according to people familiar with the matter, sending shares higher by more than 10%.

The Norwegian battery company is discussing raising $500 million from KKR, said one of the people, who asked to not be identified because the details are private. The company’s financing discussions could be disclosed as soon as this week, the people said.

The talks aren’t final and could still fall apart, they added.

Freyr’s chief executive officer and co-founder, Tom Einar Jensen, declined to comment when asked about the financing talks ...