The Biden administration has announced a $3 billion investment in 25 battery tech startups to strengthen the domestic battery industry and reduce reliance on foreign sources, particularly China. This funding is part of a $16 billion allocation by the Department of Energy (DOE) aimed at expanding local battery manufacturing, processing, and recycling facilities. The initiative is a component of the broader Inflation Reduction Act, enacted in August 2022, which includes incentives to boost the U.S. battery sector.
The grants and loans will support companies across the battery supply chain, from critical mineral extraction to the production of cathode and anode materials, electrolyte salts, and battery recycling. The investment is expected to create approximately 18,000 jobs across 14 states.
Battery startups and companies that received funding include
- Albemarle U.S., Inc.: Selected for DOE funding to enhance domestic production of advanced batteries and battery materials.
- American Battery Technology Company (ABTC): Plans to construct a commercial-scale lithium-ion battery recycling facility in South Carolina.
- Ascend Elements, Inc.: Recipient of investment to support projects in battery materials processing, manufacturing, and recycling.
- Blue Whale Materials LLC: Involved in initiatives to boost domestic production of advanced batteries and battery materials.
- Braskem America, Inc.: Participating in projects funded to strengthen the U.S. battery manufacturing supply chain.
- Cabot Corporation: Selected to contribute to domestic battery materials processing and manufacturing efforts.
- Cirba Solutions: Recipient of funding to support battery recycling and materials processing initiatives.
- Clarios Circular Solutions LLC: Engaged in projects to enhance battery recycling and manufacturing capabilities.
- The Dow Chemical Company: Involved in efforts to bolster domestic battery materials production.
- Element 25 LLC: Selected to support advanced battery materials processing projects.
- EnerSys Advanced Systems: Participating in efforts to strengthen the U.S. battery supply chain.
- Forge Battery: Recipient of investment to contribute to battery manufacturing and recycling projects.
- Form Energy, Inc.: Involved in initiatives to enhance advanced battery production.
- Group14 Technologies, Inc.: Selected to support battery materials processing and manufacturing efforts.
- Honeywell International Inc.: Engaged in projects to boost the domestic battery supply chain.
- Li Industries, Inc.: Recipient of funding to support battery recycling and materials processing.
- Mitra Future Technologies, Inc.: Involved in efforts to enhance advanced battery materials production.
- Nanograf: Selected to contribute to battery manufacturing and materials processing initiatives.
- Revex Technologies, Inc.: Participating in projects to bolster domestic battery production and recycling.
- SKI US, Inc.: Recipient of funding to support advanced battery manufacturing projects.
- Solid Power Operating, Inc.: Involved in efforts to enhance battery materials processing and manufacturing.
- South32 Hermosa Inc.: Selected to contribute to the domestic battery supply chain.
- SWA Lithium LLC: Engaged in initiatives to boost advanced battery materials production.
- TerraVolta Resources: Recipient of investment to support battery materials processing and recycling projects.
- Urbix, Inc.: Involved in efforts to strengthen the U.S. battery manufacturing supply chain.
South Carolina emerged as a significant beneficiary, with five projects receiving a total of $850 million. Cirba Solutions secured $200 million to build and operate a facility for processing large-scale battery-grade salts to support the electric vehicle market.
In Michigan, four companies were awarded a combined $355 million. Mitra Chem, backed by General Motors, received $100 million from the DOE and an additional $25 million from the state’s Competitiveness Fund. The company will partner with Sun Chemical to develop and manufacture lithium-iron phosphate materials for electric vehicles and battery storage systems.
Battery recycling startup Ascend Elements, in collaboration with chemical manufacturing company Orbia, was granted $125 million to establish a recycled graphite production facility in Kentucky. The facility will convert graphite residue from lithium-ion battery recycling and cathode material production into battery-grade graphite.
This round of funding underscores the government’s commitment to fostering innovation in the battery sector and supporting the transition to electric vehicles and renewable energy solutions.
Source: Energy.gov
