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From: Julius Wong9/20/2024 8:32:33 AM
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DoE awards $3B for 25 projects to boost U.S. battery production

Sep. 20, 2024 7:37 AM ET
By: Carl Surran, SA News Editor

Olemedia

The Biden administration said Friday it is awarding more than $3B to 25 battery manufacturing projects in 14 states in an effort to boost domestic production of critical materials used for electric vehicles and shift the supply chain away from China.

Among the projects selected, American Battery Technology ( ABAT) received $150M to build a commercial-scale lithium-ion battery recycling facility in South Carolina.

Albemarle ( ALB) was awarded $67M to retrofit a plant in North Carolina to manufacture commercial quantities of anode material for next-generation lithium-ion batteries.

Honeywell ( HON) is set to receive $126M to build a commercial-scale facility in Louisiana to produce a key electrolyte salt needed for lithium batteries.

Dow Inc. ( DOW) was awarded $100M to produce battery-grade carbonate solvents for lithium-ion battery electrolytes.

SWA Lithium LLC, a joint venture of Standard Lithium ( SLI) and Equinor ( EQNR), was selected for up to $225M to produce lithium carbonate using direct lithium extraction technology.

The grants mark the second round of EV battery funding under the bipartisan infrastructure law approved in 2021; DoE previously allocated $1.8B for 14 projects.

The DoE has said the lithium battery market may expand by 5x-10x by the end of the decade, making domestic investment essential.
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