EnerSys (NYSE: ENS), the global leader in stored energy
solutions for industrial applications, has announced that it has
selected Greenville, South Carolina to develop a lithium-ion cell
gigafactory to advance battery production in the United States.
This new factory represents a long-term opportunity that will
enable growth and allow EnerSys to optimize cell sizing in battery
solutions for its customers, providing independence from
non-domestic cell suppliers.
EnerSys has applied for a comprehensive incentive package
through South Carolina and Greenville County valued at
approximately $200 million, which includes a combination of
short-term and long-term incentives. The Company intends to use a
portion of these proceeds, along with the Inflation Reduction Act
(IRA) IRC 45X tax benefits and potential additional federal
funding, to make a $500 million investment with the potential to
create 500 high-quality new jobs.
EnerSys is evaluating the development of a 500,000 square foot
state-of the-art manufacturing facility on approximately 140 acres
in the Augusta Grove business park in Greenville. The operation,
which would be the company’s second in South Carolina, would
manufacture various form factors of lithium-ion cells for
commercial, industrial and defense applications, with a production
capacity of four gigawatt hours (GWh) per year.
“We recognize Greenville as an emerging hub for high-tech
companies with an attractive talent pool in a thriving community.
EnerSys is accelerating the global clean energy transition by
significantly expanding our production of lithium-ion batteries
across a broad range of end markets and applications. With the
support of South Carolina and Greenville County this factory will
help us meet our customers’ needs, including those with specific
manufacturing requirements for domestic sourced batteries,” said
EnerSys President & CEO David M. Shaffer.
“Congratulations to EnerSys and Greenville County on a
partnership that brings new opportunities to South Carolina. The
Upstate is set for significant transformation with an extraordinary
$500 million investment, accompanied by the creation of 500 new
jobs. This investment will shape the region's future, fostering
sustained prosperity for South Carolina in the years ahead,” said
Gov. Henry McMaster.
“We are pleased that EnerSys chose South Carolina to increase
its statewide presence and host such a large operation. Our
pro-business climate and prepared workforce make it possible for
companies to start, grow and thrive in a place they enjoy calling
home,” said Secretary of Commerce Harry M. Lightsey III.
“Greenville County is proud to welcome EnerSys to South
Carolina’s Upstate. Although growing, this community maintains a
reputation for serving and helping one another. We look forward to
including EnerSys and its team members in our Greenville family as
we evolve into a long-lasting and successful partnership,” said
Chairman of the House of Representatives Ways and Means Committee
Bruce Bannister.
“Greenville welcomes EnerSys to our county and is grateful to
its team for selecting our community to expand its technological
capabilities. The company’s investment is a testament to
Greenville’s diverse and robust manufacturing environment and
highly skilled workforce,” said Greenville County Council Chairman
Dan Tripp.
This latest development comes after EnerSys announced on June
14, 2023, that it had entered into a non-binding Memorandum of
Understanding (MOU) with Verkor SAS, a European leader in battery
technology, to explore the development of a lithium battery
gigafactory in the United States.
The Company is targeting construction to begin in early 2025 and
operations to be online in late 2027.
The transaction, among other things, is subject to customary
closing conditions, final Board approval, regulatory and incentive
approvals.
About EnerSys
EnerSys is the global leader in stored energy solutions for
industrial applications and designs, manufactures, and distributes
energy systems solutions and motive power batteries, specialty
batteries, battery chargers, power equipment, battery accessories
and outdoor equipment enclosure solutions to customers worldwide.
The company goes to market through four lines of business: Energy
Systems, Motive Power, Specialty and New Ventures. Energy Systems,
which combine power conversion, power distribution, energy storage,
and enclosures, are used in the telecommunication, broadband and
utility industries, uninterruptible power supplies, and numerous
applications requiring stored energy solutions. Motive power
batteries and chargers are utilized in electric forklift trucks and
other industrial electric powered vehicles. Specialty batteries are
used in aerospace and defense applications, large over-the-road
trucks, premium automotive, medical and security systems
applications. New Ventures provides energy storage and management
systems for various applications including demand charge reduction,
utility back-up power, and dynamic fast charging for electric
vehicles. EnerSys also provides aftermarket and customer support
services to its customers in over 100 countries through its sales
and manufacturing locations around the world. To learn more about
EnerSys please visit https://www.enersys.com/en/
Sustainability
Sustainability at EnerSys is about more than just the benefits
and impacts of our products. Our commitment to sustainability
encompasses many important environmental, social and governance
issues. Sustainability is a fundamental part of how we manage our
own operations. Minimizing our environmental footprint is a
priority. Sustainability is our commitment to our employees, our
customers and the communities we serve. Our products facilitate
positive environmental, social and economic impacts around the
world. To learn more visit:
www.enersys.com/en/about-us/sustainability.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements include statements that are not
historical facts, including statements identified by words such as
“believe,” “plan,” “seek,” “expect,” “intend,” “estimate,”
“anticipate,” “will,” and similar expressions. All statements
addressing operating performance, events or developments that
EnerSys expects or anticipates will occur in the future, including
statements relating to the level of investment, the number of jobs
created, the likelihood of obtaining or satisfying the remaining
conditions to completing the investment and gigafactory, and the
benefits from developing and operating such gigafactory, are
forward-looking statements. The forward-looking statements are
based on management’s current views and assumptions regarding
future events and operating performance and are inherently subject
to risks and uncertainties. The statements in this press release
are made as of the date of this press release. EnerSys does not
undertake any obligation to update or revise these statements to
reflect events or circumstances occurring after the date of this
press release.
The foregoing factors, among others, could cause actual results
to differ materially from those described in these forward-looking
statements. For a list of other factors which could affect EnerSys’
results, including earnings estimates, see EnerSys’ filings with
the Securities and Exchange Commission, including “Item 7.
Management's Discussion and Analysis of Financial Condition and
Results of Operations,” and “Forward-Looking Statements,” set forth
in EnerSys’ Annual Report on Form 10-K for the fiscal year ended
March 31, 2023. No undue reliance should be placed on any
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240214366072/en/
Lisa Hartman Vice President, Investor Relations and Corporate
Communications EnerSys 610-236-4040
E-mail: investorrelations@enersys.com
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