EnerSys Inc.
09/20/2024 | Press release | Distributed by Public on 09/20/2024 06:45
EnerSys® Selected for $199 Million Award Negotiation to Develop State of the Art Lithium Ion Cell Gigafactory
EnerSys® Selected for $199 Million Award Negotiation to Develop State-of-the-Art Lithium-Ion Cell Gigafactory
READING, Pa., Sep. 20, 2024 (BUSINESS WIRE) -
EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, today announced that it has been selected to enter into award negotiations for $199 million from the U.S. Department of Energy's (DOE) Office of Manufacturing and Energy Supply Chains to support the development of EnerSys' lithium-ion cell production facility in Greenville, SC.
The DOE funding is part of the federal $62 billion Bipartisan Infrastructure Law (BIL) Battery Materials Processing and Battery Manufacturing Grants, which are focused on ensuring that the U.S. has a viable battery materials processing industry with the objective of expanding domestic battery manufacturing capabilities and enhancing processing capacity. The selection is subject to final contract and funding negotiations between the DOE and EnerSys, which could take approximately 120 days to conclude.