DOE awards $2.8B to battery companies to boost domestic production • TechCrunch
Biden Harris administration, through the Department of Energy (DOE), announce On Wednesday, 20 battery companies will receive a combined $2.8 billion to build and expand commercial-scale facilities in 12 states.
This is the first phase totaling $7 billion of President Biden’s Infrastructure Act that aims to strengthen domestic battery supply chains and reduce dependence on China for battery supply and production while increasing electric vehicles. The companies that get the money will work to extract and process lithium, graphite and other battery materials, manufacture components and demonstrate new ways to obtain biomaterials, including battery recycling, locally or within FTA countries, the Department of Energy said.
The Department of Energy did not specify which companies got the money, but Jane BerdyshevskyThe co-founder and CEO of battery chemist Silla told TechCrunch that his startup received $100 million from the fund. Silla is replacing the graphite in the anode with silicon, which the company says not only makes a better battery but also avoids supply chain constraints from sourcing graphite from China. The money will go towards Lake Moses next Silla, Washington facilitywhich aims to provide a capacity of 10 gigawatt-hours per year.
Berdichevsky will probably touch the news today in TechCrunch disabledwhere he joined a panel on building companies with longer time horizons.
The Department of Energy said the federal investment will be matched by recipients to bring in more than $9 billion to boost U.S. production of clean energy technology, which supports Biden’s goal of all new car sales to be electric by 2030.
Earlier this year, Biden also passed an inflation-reduction law, which included a set of conditions for consumers to qualify Electric vehicle tax creditsincluding the need to source critical battery materials locally or in FTA countries, rather than from China.
The Department of Energy has a series of goals for selected projects, including developing enough lithium battery to support approximately 2 million EVs per year, enough graphite to support 1.2 million EVs per year and enough nickel to supply approximately 400,000 EVs per year.
The funding will also help create the first large-scale commercial lithium salt electrolyte production facility in the United States and the first lithium iron phosphate cathode facility in the United States, among others.
The Department of Energy did not respond in a timely manner to TechCrunch’s request for comment or more information.