US to award $3 billion to 25 projects for battery manufacturing sector
Albemarle (ALB.N) is set to receive $67 million for a project in North Carolina to produce commercial quantities of anode material for next-generation lithium-ion batteries, while Honeywell (HON.O) is set to receive $126.6 million to build a commercial-scale facility in Louisiana to produce a key electrolyte salt needed for lithium batteries.
Four projects will receive a combined $355 million in funding from the U.S. Department of Energy, officials announced Friday.
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