Department of Energy boosts domestic battery supply chain with billions in funding
The Department of Energy (DOE) opened up billions of dollars in funding today to build up domestic supply chains for batteries. Batteries will be crucial in the Biden administration’s plans to transition the nation to electric vehicles and clean energy.
The DOE says in its announcement that it will give $3.1 billion to companies to boost “the creation of new, retrofitted, and expanded commercial facilities” to process materials, make batteries, and recycle them at the end of their lives. Another $60 million in grants from the DOE will fund efforts to find second uses for old EV batteries. The money comes from the Bipartisan Infrastructure Law that passed last year.
The bigger picture: the Biden administration has set pretty big goals...