The US Department of Energy (DOE) has announced more than $192 million in additional financing for recycling consumer product batteries, forming an advanced battery R&D collaboration and continuing the 2019 Lithium-Ion Battery Recycling Prize.
The Advanced Battery R&D Consortium funding opportunity will provide up to $60 million to convene major EV manufacturers, universities, National Laboratory partners, mineral and material suppliers and other key battery stakeholders to address critical battery needs for the next phase of wide-scale EV commercialization.
The Battery Recycling Prize launched in January 2019 has to date awarded $5.5 million for innovative solutions to collecting, sorting, storing and transporting spent and discarded lithium-ion batteries. The DOE is providing $7.4 million to fund a new Breakthrough Contest, as well as Phase IV of the Prize.
The funding supports the Biden-Harris Administration’s aim of having EVs make up half of all car sales in America by 2030 and builds on President Biden’s roughly $3 billion budget for EV and battery innovations under the Bipartisan Infrastructure Law. As of April 2023, over 3.6 million EVs have been sold in America and over half of them were sold since President Biden assumed office. Since 2008, battery prices have dropped 90% while energy density and performance have grown.
“Thanks to President Biden’s Investing in America agenda, these investments in battery production and recycling will ensure the US has a secure and sustainable domestic supply chain that strengthens our economy,” said Secretary of Energy Jennifer M. Granholm.
Source: US Department of Energy