US President Joe Biden announced a “major investment in domestic production of key minerals and materials” this week, including efforts to strengthen supply chains of lithium and other materials used in batteries.
The US Department of Energy (DOE) has provided dates and a partial breakdown of grants totalling US$2.9 billion to boost the production of batteries for the electric vehicle (EV) and energy storage markets, as promised by President Biden’s Bipartisan Infrastructure Deal.
Fluence has reaffirmed its guidance of US$1.1 billion to US$1.3 billion revenues for the 2022 financial year, with the company’s CEO claiming expectations were exceeded in the first quarter “despite short-term headwinds”.
LG Energy Solution has signed a five-year supply deal for lithium hydroxide from Germany-headquartered Vulcan Energy Resources, which aims to establish carbon emissions-free extraction facilities.
The company behind what is claimed will be the largest lithium-ion battery recycling facility in North America intends to process as much material as it can from the energy storage system (ESS) industry.
LG Chem and LG Energy Solution have agreed to make a US$50 million investment into lithium-ion battery resource recovery and recycling company Li-Cycle.
Supply chain shocks are causing short-term rises in the price of lithium-ion battery packs, but overall the price trend is downward and by 2024 average prices could dip below US$100/kWh.
Honeywell has created a flow battery which it will deploy in pilot projects of increasing size starting next year. Honeywell Sustainable Technology Solutions (Honeywell STS) vice president and general manager Ben Owens spoke with Energy-Storage.news about it.
China has once again been ranked top for involvement in the global lithium-ion battery supply chain by BloombergNEF, but for the first time the US has come in second amid a policy rush to support the domestic industry.
