US announces $3 billion in funding for new battery projects
A worker demonstrates how lithium is recovered from brine at a Standard Lithium facility in El Dorado, Arkansas, US, on Thursday, July 20, 2023. | Photo: Getty Images
The US Department of Energy announced today plans to dole out more than $3 billion to over two dozen battery projects across 14 states. The money will go toward processing critical minerals, building batteries and their components, and recycling batteries. It’s part of the Biden administration’s push for more domestic manufacturing to support its climate goals.
Batteries are an increasingly hot commodity needed for electric vehicles and to store renewable energy from solar and wind projects. New battery facilities are cropping up all over the US thanks in part to federal support in the form of grants, loans, and tax incentives.
New battery facilities are cropping up all over the USThe funding comes from the Bipartisan Infrastructure...