October 21, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. government is backing the efforts of two U.S.-based companies that specialize in the development of lithium technology. The U.S. Department of Energy (DOE) recently awarded grants of nearly $150 million each to Piedmont Lithium (NASDAQ:PLL) (Bessemer City, North Carolina) and Albemarle Corporation (NYSE:ALB) (Charlotte, North Carolina) to develop a pair of lithium-development facilities, which will cater to the electrical grid and the growing market for electric vehicles (EVs).
Industrial Info is tracking $1.95 billion and $2.33 billion in active projects from Piedmont and Albemarle, respectively. The awards are part of a broader effort by the Biden administration to expand domestic manufacturing of battery materials for electric vehicles (EVs) and the electrical grid. Piedmont and Albemarle are among 20 companies that will receive a combined $2.8 billion to build and expand commercial-scale facilities in 12 states.
Other companies featured: Sayona Mining Limited
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