The Biden administration will announce on Wednesday it is awarding $2.8 billion in grants for projects to boost US manufacturing of electric vehicle batteries and domestic mineral production.
The Biden administration said on Wednesday it is awarding $2.8 billion in grants to boost US production of electric vehicle batteries and the minerals used to build them, part of a bid to wean the country off supplies from China.
The funds are being doled out to a range of companies, some of which could self-fund projects and others that will see the grants as a financial lifeline to further expand their US plans. The funding, though, does nothing to alleviate permitting challenges faced by some in the mining industry. Piedmont Lithium Inc is receiving $141.7 million to build its own lithium processing facility in Tennessee, where the company will initially process the metal sourced from Quebec and Ghana. Piedmont’s plans to build a lithium mine in North Carolina have faced strong opposition.broke the news of its funding award earlier on Wednesday. Piedmont did not immediately respond to a request for comment.
Other grants include $316.2 million to privately-held Ascend Elements to build a battery parts plant, $50 million to privately-held Lilac Solutions Inc for a demonstration plant for so-called direct lithium extraction technologies, $75 million to privately-held Cirba Solutions to expand an Ohio battery recycling plant, and $219.8 million to Syrah Technologies LLC, a subsidiary of Syrah Resources Ltd, to expand a graphite processing plant in Louisiana.
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