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US announces $3 billion in funding for new battery projects
The Biden administration wants to make more batteries domestically for EVs and renewable energy.
Batteries are an increasingly hot commodity needed for electric vehicles and to store renewable energy from solar and wind projects. The 25 projects announced today have been selected for awards, but will still need to go through a negotiation process with the Department of Energy (DOE) and complete an environmental review to receive any money. The second project, led by TerraVolta Resources in the Texarkana region, is estimated to have the capacity to produce 25,000 metric tons of lithium carbonate equivalent each year once it’s operating.
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