$3 Billion Grant Program to Charge Up U.S. Lithium-Ion Battery Production

May 5, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Department of Energy (DOE) this week announced $3.1 billion in funding to support the domestic manufacturing of batteries and components, primarily to bolster production of electric cars. Grants will be made available to support the creation of new, retrofitted, and expanded commercial facilities as well as manufacturing demonstrations and battery recycling, the DOE said in May 2 press release. The department also announced $60 million in funding to support second-life applications for batteries once used to power electric vehicles, as well as new processes for recycling materials back into the battery supply chain. Industrial Info is tracking eight projects in the U.S., worth $2.3 billion, that involve the extraction and processing of lithium for batteries. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports. The projects range from $60 million to $840 million in value.