Piedmont Lithium Awarded $141.7 Million Grant to Support Tennessee Lithium Project
October 19 2022 - 12:18PM
Dow Jones News
By Kathryn Hardison
Piedmont Lithium Inc. has been selected for a $141.7 million
grant from the U.S. Department of Energy to support the
construction of a lithium project in Etowah, Tenn.
The company, which develops lithium resources used for the U.S.
electric-vehicle supply chain, said Wednesday that its $600 million
project is meant to expand the U.S. supply of lithium hydroxide by
30,000 metric tons per year. That is a key component in long-range,
high-energy EV batteries.
The grant represents one of the first set of projects funded by
President Joe Biden's infrastructure law aimed at expanding
domestic manufacturing of batteries for EVs and the electrical
grid.
Piedmont said it will be able to negotiate specific terms of the
grant, including timing and co-funding.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
October 19, 2022 12:03 ET (16:03 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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