October 4, 2024: Cabot Corporation has secured up to $50m in US federal funding to develop a battery materials production plant in Michigan.

The speciality chemicals and materials group said on September 20 the grant, from the US Department of Energy’s Office of Manufacturing and Energy Supply Chains, would support development of a new facility in the country to produce battery-grade carbon nanotubes (CNTs) and conductive additive dispersions at commercial scale.

Cabot said the grant will cover nearly 30% of the total projected $181 million investment required for the project, which it said is critical to the domestic lithium ion battery supply chain for EVs and to reduce reliance on imports.

The company plans to revitalize, retrofit, and restore a former automotive site in Wayne into what it said will be the country’s first such facility.

Cabot has partnered with the North American Building Trades Union, the International Chemical Workers Union Council and the Michigan Building and Construction Trades Council for the project.

Sean Keohane, Cabot president and CEO, said: “This investment will not only help us scale our production of critical battery materials, but it will also benefit the community by creating high-quality green energy jobs.”

Batteries International reported last year that Cabot was joining the Department of Energy’s voluntary ‘Better Plants’ program to boost its own plans to achieve net zero emissions by 2050.