US Department of Energy Allocates Over $3 Billion for Advanced Battery Production Projects
The US Department of Energy announced the allocation of more than $3 billion to fund 25 selected projects across 14 states.
This is a component of the administration of Bidden Harris's "Investing in America" agenda, which aims to increase domestic production of advanced batteries and materials across the country.
Once contracted, the projects are expected to create more than 8,000 construction jobs and 4000 operating jobs.
These projects, overseen by the DOE's Office of Manufacturing and Energy Supply Chains (MESC), will concentrate on retrofitting, expanding existing facilities, and constructing new facilities to generate vital minerals, recycled materials, and battery-grade components.
In addition, the private sector has invested over $120 billion in the supply chain for electric vehicles (EVs).
This is part of the President's industrial policy for clean energy, which aims to strengthen the nation's domestic supply chain and raise economic competitiveness and energy security.
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Jennifer M Granholm, the US Secretary of Energy, said, “We’re in the midst of a manufacturing revival in the United States as the Biden-Harris Administration’s Investing in America agenda continues to breathe new life into communities and local economies across the country.”
She added, “By positioning the US at the forefront of advanced battery manufacturing, we are creating high-paying jobs and strengthening our global economic leadership and domestic energy security, all while supporting the clean energy transition.”
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With the DOE's Battery Materials Processing and Battery Manufacture and Recycling Program,\ a larger endeavour to raise $16 billion for battery manufacture and recycling is underway, which includes the $3 billion investment.
To improve overall energy security, these projects seek to harvest and recycle vital minerals, produce necessary parts for a dependable energy supply chain, and cover both classical and lithium-ion chemistries.
Nearly 90% of the projects chosen are in or near underprivileged areas, which is in line with President Biden's Justice40 Initiative.
Additionally, more than half of the projects chosen have previously signed Project Labor Agreements, and ten of them have partnered with labour unions.
