Graphite miner said today that it was selected by the US Department of Energy for a grant of up to US$220 million.
The funds will support the financing of the potential expansion of the Vidalia AAM facility in Louisiana, USA to a 45ktpa AAM production capacity. The DOE grants are part of the first set of projects funded by the Biden Administration’s Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles and the electrical grid and for materials and components currently imported from other countries.
Syrah is completing a definitive feasibility study on the expansion of Vidalia’s production capacity to 45ktpa active anode material (AAM), inclusive of initial capacity of 11.25ktpa AAM.
Syrah also announced today that it enters into a non-binding memorandum of understanding with LG Energy Solution, a leading global manufacturer of lithium-ion batteries. Syrah and LG Energy Solution will evaluate natural graphite active anode material supply from the Vidalia AAM facility in USA.
