The Biden-Harris Administration has announced that nearly $74 million in funding from President Biden’s Bipartisan Infrastructure Law for 10 projects to advance technologies and processes for electric vehicle battery recycling and reuse.
Within President Biden’s term, more than 1.2 million EVs have been sold in America. This number is triple the amount of EVs on the road before he took office. This number is continuing to grow at a fast rate.
As EVs increase, the demand for important battery materials such as lithium and graphite are expected to increase as much as 4000% in the next coming years. The latest round of funding will support the recycling and reuse segment of the domestic battery supply chain.
This new investment aims to help accelerate battery production in America, mitigate battery supply chain disruptions and to create good paying jobs.
The announcement made builds on the $2.8 billion through President Biden’s Bipartisan Infrastructure Law for domestic battery processing and component manufacturing and supports President Biden’s goal to have electric vehicles make up half of all vehicles sales in America by 2030, says the press release.
“Recycling advanced batteries presents an enormous opportunity for America to support the creation of a secure and resilient domestic battery supply chain to reach our clean energy and transportation future,” said U.S. Secretary of Energy Jennifer M. Granholm. “The historic investments of President Biden’s Bipartisan Infrastructure Law are making it possible for cross-sector collaboration that will fuel America’s technological breakthroughs and eliminate our overreliance on other nations to meet our clean energy goals.”
Advanced batteries are vital to the entire clean energy economy, but America currently does not produce enough of the critical minerals and battery materials needed to power clean energy technologies, stated the Department of Energy’s press release.
It continued to say that if unaddressed, the lack of domestic mining, processing, and recycling capacity will hinder clean energy and transportation development and adoption, leaving the nation dependent on unreliable foreign supply chains.
The Biden-Harris Administration is committed to using a whole-of-government approach to securing a reliable and sustainable supply chain to improve America’s energy independence, strengthen national security, and lower costs for working families.
“Thanks to the Bipartisan Infrastructure Law, the Biden-Harris Administration is investing nearly $10 million in funding to recycle batteries and create jobs right here in Nevada,” said U.S. Congressman Steven Horsford (NV-04). “This investment ensures that we are able to provide for the future demand of batteries, ensure a domestic supply chain of critical minerals and strengthen our national security. As a member of the Congressional Critical Minerals Caucus and a proud supporter of the Bipartisan Infrastructure Law, I will continue to work with the Administration to make critical investments in Nevada and across the nation to advance a clean energy future.”
The project announced is managed by the DOE’s Vehicle Technologies Office and is part od a $7 billion investment from the President’s Bipartisan Infrastructure Law to strengthen the domestic battery supply chain.