https://newsletter.en.creamermedia.com
Building|Components|Energy|generation|Industrial|Manufacturing|Projects|Renewable Energy|Renewable-Energy|SECURITY|supply-chain|Technology|Manufacturing
Building|Components|Energy|generation|Industrial|Manufacturing|Projects|Renewable Energy|Renewable-Energy|SECURITY|supply-chain|Technology|Manufacturing
building|components|energy|generation|industrial|manufacturing|projects|renewable-energy|renewable-energy-company|security|supply chain|technology|manufacturing-industry-term

Biden awards $3bn to boost domestic battery production

US President Joe Biden

US President Joe Biden

20th September 2024

By: Bloomberg

  

Font size: - +

American Battery Technology and lithium-producer Albemarle are among 25 companies getting more than $3-billion in funding from the Biden administration to boost domestic production of advanced batteries and components.

The funding — part of a broader White House goal of creating an American battery supply chain — is going to projects that are building, expanding or retrofitting facilities to process critical minerals, build components and batteries and recycle materials, the Energy Department said Friday.

American Battery Technology received $150-million to build a commercial-scale lithium-ion battery recycling facility in South Carolina. Albemarle is getting $67-million to retrofit a facility to manufacture commercial anode material for next-generation lithium-ion batteries around Charlotte, North Carolina. Other projects included $50-million for Cabot and $225-million for SWA Lithium, a joint venture of Standard Lithium and Equinor.

Batteries — which are used for electric vehicles as well as storing renewable energy for use on the electric grid — are considered critical to reaching the administration’s goal of net-zero emissions by 2050 and for boosting electric vehicles to half of all new light-duty vehicle sales by 2030.

The Energy Department, which is awarding the funding through its Office of Manufacturing and Energy Supply Chains, has said rising demand may increase the lithium battery market by fivefold to tenfold by the end of the decade, making domestic investment essential.

“This is a much-needed investment in our domestic battery manufacturing capacity — a global industrial arena that will define our future competitiveness and energy security,” said Abigail Hunter, an executive director with SAFE, a Washington think-tank that advocates for US energy independence. “We must be strategic and aggressive in our approach.”

Edited by Bloomberg

Comments

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine video image
Magazine round up | 29 November 2024
29th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.235 0.336s - 288pq - 2rq
Subscribe Now