The US government plans to allocate $3 billion to 25 projects across 14 states to boost domestic production of advanced batteries and materials used in electric vehicles, multiple media outlets reported on Friday.
The grants will support projects in states such as Michigan, North Carolina, Ohio, Texas, South Carolina, and Louisiana. The initiatives, which range from battery-grade critical mineral processing to manufacturing and recycling, are expected to generate a total investment of $16 billion and create 12,000 jobs, according to the reports.
Albemarle (ALB) will receive $67 million for anode material production in North Carolina, while Honeywell (HON) is set to receive $126.6 million to build an electrolyte salt production facility in Louisiana. The US Department of Energy will grant Dow (DOW) $100 million for battery-grade carbonate solvent production, and Revex Technologies will be awarded $145 million for nickel production from waste materials in Michigan.
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