Anovion Battery Materials selected to receive $117 Million grant under the bipartisan infrastructure law for battery materials processing and manufacturing

Anovion Battery Materials, an advanced battery materials business with North America’s first commercially operational capacity for synthetic graphite anode material, has announced that it has been selected to receive a $117 million grant under the Bipartisan
Infrastructure Law.

This is the first set of projects funded by the President’s Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles (EVs) and the electrical grid and for materials and components currently imported fromother countries. This grant nomination is part of a once-in-a-generation investment in infrastructure, which will grow a more sustainable, resilient, and equitable economy by enhancing U.S. competitiveness,
creating new energy economy jobs, and better access to these economic benefits for communities.

We are thrilled to have been recognized as a nominee for the Infrastructure Grant opportunity. This grant consideration will enable Anovion to expedite its ongoing investments in expansion to advance the company’s mission of growing a resilient, secure and sustainable North American lithium-ion battery supply chain,” said Eric Stopka, Chief
Executive Officer of Anovion. “This nomination affirms Anovion’s commitment to creating a meaningful, positive impact on the environment,communities where we currently and plan to operate, people we employ,and the broader clean-energy economy. Anovion’s existing qualified commercial products, process technologies, focus on R&D, and experienced team uniquely position this project for success.

Anovion plans to build a new, large-scale manufacturing facility producing 35,000 tons per annum of synthetic graphite anode materials for lithium-ion batteries used in electric vehicles (EV), energy storage systems, personal e-mobility, medical devices and military and aerospace, as well as other industrial applications. This U.S.-owned and operated, state-of-the-art manufacturing plant will be the first of its scale in North America, creating hundreds of high-quality clean energy jobs in communities previously impacted by offshoring over the years.

This project will supplement the expansion of Anovion’s existing manufacturing capacity near Niagara Falls, NY, notably the only qualified U.S. source of battery-grade synthetic graphite anode material commercially shipping product today.

The country’s ability to produce synthetic graphite battery anode materials is essential to competitiveness across many industries as batteries are critical to the ongoing transition to the new energy economy, enabling decarbonization, lower energy costs, and resilient
power grids. The automotive industry has rapidly increased its investments and commitment to electric powertrains, causing domestic demand for synthetic graphite battery anode materials to skyrocket. Establishing a domestic lithium-ion battery supply chain directly impacts several strategic imperatives, including national security interests, a robust economic growth, and environmental stewardship.

Mr. Stopka added, “Our sincere thanks to customers, partners, community, stakeholders, suppliers, and employees that came together to make this exciting moment in Anovion’s history a possibility and we look forward to sharing continued progress as we work to grow a resilient,  secure and sustainable North American battery supply chain. This grant
represents an enormous vote of confidence in the critical work our team is dedicated to advancing every day.”

The Monomyth Group, a diversified holding company that provides long-term, partner capital to help companies reach potential, is a majority investor in Anovion. Amsted Industries, an employee-owned diversified global manufacturer of industrial components for the rail, automotive, commercial vehicle, and construction markets, is the minority investor.

Previous articleWealth Minerals signs nondisclosure agreement with the national mining company of ChileĀ 
Next article6K awarded prestigious department of energy grant to fund $107m UnimeltĀ® plasma processing plant for domestic battery material production