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DOE to provide $2.91 billion for domestic battery manufacturing, recycling
The US Department of Energy will provide $2.91 billion under the federal Bipartisan Infrastructure Law to boost production of advanced batteries used in electric vehicles and battery storage projects, Kallanish reports.
The DOE has issued two notices of intent to fund battery materials refining and production plants, battery cell and pack manufacturing facilities and recycling facilities. The money will be used to build new, retrofitted and expanded domestic facilities for battery manufacture and recycling and the production of battery materials, cell components and battery manufacturing.
The funding is expected to be made available in the coming months and will help boost energy independence, the US economy and national security, the agency says. The lithium-ion battery market is growing and the $2.91 billion will help the US be prepared for market demand. The DOE says responsible and sustainable domestic sourcing of lithium, cobalt, nickel and graphite to make lithium-ion batteries will also help close the gap in supply chain disruptions and accelerate battery production in the US.
President Joe Biden’s Bipartisan Infrastructure Law allocated nearly $7 billion to strengthen the US battery supply chain.
“As electric cars and trucks continue to grow in popularity within the United States and around the world, we must seize the chance to make advanced batteries – the heart of this growing industry – right here at home,” says Secretary of Energy Jennifer Granholm. “With funding from the Bipartisan Infrastructure Law, we’re making it possible to establish a thriving battery supply chain in the United States.”
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous