10/31/2024 | Press release | Distributed by Public on 10/31/2024 09:09
Funding From the Investing in America Agenda Will Help Meet Demand for Critical Materials and Support a More Circular Domestic Battery Supply Chain
WASHINGTON D.C. - As part of the Biden-Harris Administration's historic Investing in America agenda, the U.S. Department of Energy (DOE) today announced $44.8 million in funding from the Bipartisan Infrastructure Law (BIL) for eight projects that will lower costs of recycling electric drive vehicle batteries and electric drive vehicle battery components, with the long-term aim of lowering vehicle costs. Under President Biden and Vice President Harris' leadership, more than four million electric vehicles (EVs) have been sold in America-more than double the number bought in all previous years combined. The demand for EVs and stationary storage is projected to increase the size of the lithium battery market five-to ten-fold by the end of the decade, making U.S investments to accelerate the development of a resilient domestic supply chain for high-capacity batteries essential. The projects selected by DOE's Vehicle Technologies Office will advance research, development, and demonstration of recycling and second-life applications for batteries once used to power EVs. This announcement builds on $92 million in previously announced projects to advance EV battery recycling and expand equitable deployment, supporting President Biden's goal to have EVs make up half of all vehicle sales in America by 2030.
"The United States is securing a resilient domestic battery supply chain, thanks to the Biden-Harris Administration's historic investments in innovation and battery recycling efforts," said U.S. Secretary of Energy Jennifer M. Granholm. "Finding new life for used batteries will significantly reduce pollution and our reliance on other nations, while lowering costs and supporting the clean energy transition."
These investments support the Biden-Harris Administration's Justice40 Initiative, which sets a goal that 40% of the overall benefits of certain federal investments in climate, clean energy, and other areas flow to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution. The eight projects selected for this round of funding are the second phase of $200 million in total provided for electric drive vehicle battery recycling and second life applications and part of $7 billion in total funding provided by President Biden and Vice President Harris' Bipartisan Infrastructure Law to support battery supply chains. These projects will reduce costs associated with transporting, dismantling, and preprocessing end-of-life electric drive vehicle batteries for recycling, and the recycling of plastic and polymer electric drive battery accessory components. In September 2024, DOE announced an intent to fund the third phase with up to $70 million for projects that will improve the economics of electric drive vehicle battery recovery and re-use.
The projects selected today will:
Increase recycling of electric drive vehicle battery accessory components:
Learn more about the projects selected for award negotiation. Learn more about VTO.
Selection for award negotiations is not a commitment by DOE to issue an award or provide funding. Before funding is issued, DOE and the applicants will undergo a negotiation process, and DOE may cancel award negotiations and rescind the selection for any reason during that time. Award amounts are subject to change pending negotiations.