WASHINGTON, DC – U.S. Senators Jacky Rosen (D-NV) and Catherine Cortez Masto (D-NV) announced nearly $30 million coming to two Nevada companies that support lithium battery production, which is critical to the Silver State’s clean energy economy. The U.S. Department of Energy (DOE) is awarding nearly $19,600,000 to American Battery Technology Company in Sparks to support the construction of a new battery recycling facility, as well as $9,390,000 to Albemarle to expand lithium carbonate production at the Silver Peak Lithium Project, the only lithium producing mine in North America.
This funding was made possible through DOE’s Qualifying Advanced Energy Project Tax Credit (48C). Cortez Masto and Rosen successfully fought to expand access to this tax credit in the Inflation Reduction Act.
“As one of the few places in our nation with an abundance of lithium and other critical minerals, Nevada plays a central role in our domestic clean energy supply chain,” said Senator Rosen. “I fought to expand access to this tax credit to invest in lithium production and recycling, strengthen our energy security, and support new jobs across Nevada.”
“Nevada’s lithium battery economy is key to our country’s clean energy future, and that’s why I’ve fought to ensure our companies have access to the resources they need to support their operations,” said Senator Cortez Masto. “This tax credit allows for the expansion of Nevada’s lithium supply chain, creating good-paying jobs and supporting working families in the Silver State.”
Senators Rosen and Cortez Masto have consistently worked to support Nevada’s battery supply chain and clean energy industry, which has created nearly 42,000 good-paying clean energy jobs across Nevada. Through her Innovation State Initiative, Cortez Masto has been a proponent of renewable and sustainable energy, passing bipartisan legislation to promote Nevada’s mining and emerging battery industries. Both Senators have worked to set up a sustainable critical mineral supply chain, having previously delivered crucial funding to American Battery Technology Company and other companies to expand this industry in Nevada. Senator Rosen’s provision to support the development of a secure and reliable domestic critical mineral supply chain and grow the mining workforce was included in the CHIPS and Science Act, which became law last year.
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