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Biden Awards $3 Billion to Boost Domestic Battery Production
- American Battery Technology Co., Albemarle among winners
- Lithium-battery market seen expanding up to 10-fold by 2030
Sacks of lithium carbonate at an Albemarle Corp. processing facility.
Photographer: Cristobal Olivares/BloombergThis article is for subscribers only.
American Battery Technology Co. and lithium-producer Albemarle Corp. are among 25 companies getting more than $3 billion in funding from the Biden administration to boost domestic production of advanced batteries and components.
The funding — part of a broader White House goal of creating an American battery supply chain — is going to projects that are building, expanding or retrofitting facilities to process critical minerals, build components and batteries and recycle materials, the Energy Department said Friday.