US announces $62 million investment for recycling

US announces $62 million investment for recycling

US announces $62 million investment for recycling 1024 1013 Batteries International

April 12, 2024: The US government announced in early April that the DoE will provide $62 million for 17 projects to encourage battery recycling.

The government said: “Under the Biden-Harris Administration, EV sales have quadrupled, reaching record high levels of more than 1.4 million sales last year.

“With demand for EVs and stationary energy storage projected to expand the lithium battery market as much as 10-fold by 2030, investments in sustainable, reduced-cost recycling of consumer batteries are critical to securing the domestic materials supply chain to meet that demand.

“Recycling used batteries reduces demand for new materials and allows the industry to produce at lower costs, supporting the government’s goal of creating a more sustainable battery supply chain and having EVs make up half of all vehicles sales in America by 2030.”

The funds are part of the Bipartisan Infrastructure Law introduced in November 2021 to increase consumer participation and improve the economics of consumer battery recycling.