US Energy Department announced $3.5 billion investment to boost battery manufacturing

The US Department of Energy (DOE) announced on Wednesday a $3.5 billion order to boost the production of advanced batteries and battery materials domestically.

The new funding is focusing on facilitating battery-grade processed critical minerals, battery precursor materials, battery components, and cell and pack manufacturing. The funding is also looking to support clean energy industries such as renewable energy and electric vehicles.

Batteries are a critical part of the clean energy economy and the US DOE is expecting to impact the industry and help it to reduce battery products such as EVs and others.

This is the second round of $6 billion in total funding provided by bipartisan infrastructure law. In the first round, DOE awarded fifteen projects combined $5.8+ billion in public/private investment.

This second phase is expected to boost battery manufacturing and supply chains to contribute to clean energy transition.

(source – DOE)