U.S. battery and energy storage companies are about to get a significant boost from the U.S. government. The Department of Energy recently released two notices of intent to spend $2.9 billion to shore up U.S. battery supply chains, including batteries intended for use in electric vehicles.
According to IndustryWeek sister site T&DWorld, the money will go towards battery materials refining and production factories, battery cell and pack manufacturing sites, and recycling plants and is expected to be made available in the coming months. The $2.9 billion cleared by the Energy Department will come out of the almost $7 billion allocated by the infrastructure bill passed in November 2021.
“As electric cars and trucks continue to grow in popularity within the United States and around the world, we must seize the chance to make advanced batteries—the heart of this growing industry—right here at home,” said U.S. Secretary of Energy, Jennifer M. Granholm, in a statement.
For more information, including how interested parties can sign up with the Department for updates on the funding, read the full story at TDWorld.com.