According to media reports, the U.S. Department of Energy (DoE) has allocated $500 million to support seven domestic companies in developing projects for critical minerals such as lithium and cobalt, as well as battery manufacturing. This marks the latest move by the U.S. government to advance a series of investments in domestic mining and material processing sectors.

The funding comes from the Battery Material Processing and Battery Manufacturing grant program, which received hundreds of applications from enterprises.

Prior to this, the DoE had already completed financial support for multiple lithium resource projects including Ioneer, Standard Lithium, and American Lithium, continuously increasing investment in the construction of domestic upstream lithium production capacity.

Cobalt Refining Project Receives Nine-Figure Funding, Bridging Domestic Gap

Jervois, which holds cobalt mining resources in Idaho, secured $100 million in funding to build the only cobalt refinery in the United States. Cobalt is a core raw material for lithium batteries and consumer electronics, and is also widely used in various types of weaponry and equipment. The implementation of this project will fill the capacity gap in domestic cobalt hydrometallurgical refining and reduce dependence on foreign raw materials.

Multiple New Material Companies Receive $50 Million Each

Three additional companies each received $50 million in grants, covering key areas such as battery cathode recycling, electrolytes, and silicon-based anodes:

- Princeton NuEnergy: Engaging in the reprocessing of battery cathode components and laying out the battery recycling and circular utilization;

- Arcanum Ventures: Producing battery electrolyte compounds to improve the localization of electrolyte supporting facilities;

- Coreshell Technologies: Developing silicon-based battery anode materials to replace traditional graphite anodes in the industry and driving upgrades in battery energy density.

Industry Background: U.S. Accelerates Construction of Complete Domestic Battery Supply Chain

From resource extraction and mineral refining to battery material manufacturing and battery recycling, the U.S. Department of Energy is continuously unblocking full-chain domestic capabilities through multiple rounds of grants. This round of projects covers mineral smelting, material innovation, and battery recycling, aiming to reduce reliance on overseas supply chains and serve the raw material security needs of the new energy and defense sectors.

From:ChemNet