The US Department of Energy’s Loan Programs Office (LPO) has announced a US$375 million loan to lithium-ion recycling firm Li-Cycle to finance its material recovery facility in Rochester, New York.
The ‘hype cycle’ around long duration energy storage (LDES) is coming to an end and 2023 will be the year when companies must prove their technology can live up to its promises.
Redwood Materials will get a US$2 billion loan from the DOE’s Loan Programs Office (LPO) for its closed-loop lithium-ion anode and cathode material production plant in Nevada, US.
US Senator Joe Manchin and fellow bipartisan colleagues have urged the Biden Administration to invest more in non-lithium energy storage technologies, while DOE Loan Programs Office head Jigar Shah expects companies developing the latter to broadly secure 1GWh orders this year.
A total of US$92 billion has been invested in the US battery supply chain since Biden took office in January 2021, including recent projects announced by ICL and Rhyolite.
Nostromo Energy is seeking an equity capital raise as part of getting a US$189 million loan guarantee from the US Department of Energy to roll out its cold energy storage solution.
California-based firm Element Energy has raised a US$28 million Series B to accelerate its proprietary BMS-enhanced second life energy storage solution, with 2.5GWh of modules secured already.
The US Department of Energy (DOE) has provided US$7.9 million for a 50MWh battery energy storage project using second life EV batteries in the ERCOT, Texas market, by Element Energy and NextEra Energy Resources.
Hydrogen storage company GKN Hydrogen, gas utility SoCalGas and the US Department of Energy’s National Renewable Energy Laboratory are collaborating on a new green hydrogen storage solution.
The US Department of Energy (DOE) has formally launched a US$3.16 billion grant funding opportunity for its domestic battery supply chain, the latest in a series of moves to support the sector.
