Cabot Corporation Awarded $50 Million for Battery Supply Innovation
Cabot Corporation Awarded $50 Million for Battery Supply Innovation
BOSTON-- Cabot Corporation (NYSE: CBT), a global specialty chemicals and performance materials company, has recently been honored with the opportunity to negotiate for an award of up to $50 million from the U.S. Department of Energy’s (DOE) Office of Manufacturing and Energy Supply Chains. This significant grant, part of a national initiative under the Bipartisan Infrastructure Law, will bolster Cabot's efforts to establish a manufacturing facility dedicated to producing battery-grade carbon nanotubes (CNTs) and conductive additive dispersions on a commercial scale, crucial components in the lithium-ion battery supply chain for electric vehicles (EVs) and the electrical grid.
Enhancing the Domestic Battery Supply Chain
This initiative aims to diminish the nation's dependence on imports for vital battery materials. The considerable grant from the DOE is expected to provide nearly 30 percent of the total estimated investment of $181 million required for this project. Cabot plans to transform a former automotive site in Michigan into the pioneering U.S. production facility for these advanced materials.
Partnerships and Job Creation
To successfully navigate this transformative project, Cabot has formed strategic alliances with several esteemed organizations, including the North American Building Trades Union (NABTU) and the International Chemical Workers Union Council (ICWUC). The project is anticipated to generate hundreds of new jobs in both construction and full-time manufacturing, thereby strengthening the domestic supply chain for essential battery materials.
Solid Foundations in Manufacturing Excellence
With a legacy of 140 years in manufacturing excellence, including extensive experience in the battery sector, Cabot Corporation is poised to enhance U.S. battery manufacturing capabilities significantly. Over the past 15 years, Cabot has built strong relationships with leading battery manufacturers, positioning itself as a trusted innovator. This project will not only expand the production of battery-grade conductive additives and carbon nanostructures, but also create specialized, location-specific solutions that cater to the distinct needs of battery chemistry, particularly for U.S. EV manufacturers.
Commitment to Quality and Sustainability
Sean Keohane, president and CEO of Cabot Corporation, expressed enthusiasm regarding this selection, stating, “We are greatly honored to be in this position with the U.S. Department of Energy, which will advance our capabilities to supply critical materials for the EV battery market, reinforcing our commitment to the U.S. battery supply chain.” He emphasized Cabot’s role as an innovator in materials technology, vital for fostering a transition towards green energy while creating high-quality jobs within the community.
Cabot’s Comprehensive Role in Energy Transition
This latest investment underscores Cabot Corporation's pivotal role in energy transition, delivering innovative solutions in battery technologies and the broader energy management ecosystem. Beyond conductive additives, Cabot is involved in developing aerogels for thermal management improvements, metal oxides for enhancing cathode durability, and advanced carbon materials that are crucial for optimizing fuel cells—essential components for the next generation of sustainable energy technologies.
Learn More About Cabot’s Innovations
For those looking to delve deeper into Cabot’s offerings in battery materials technology, their comprehensive solutions are designed to meet a variety of needs within the battery production sector.
About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a leading global specialty chemicals and performance materials company based in Boston, Massachusetts. Renowned for its cutting-edge reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, and more, Cabot continues to push the boundaries of innovation. To discover more about Cabot's array of solutions and technological advancements, please refer to the company’s official website.
Frequently Asked Questions
What is the purpose of the $50 million grant awarded to Cabot Corporation?
The grant aims to support the establishment of a manufacturing facility in the U.S. for producing battery-grade materials crucial to the lithium-ion battery supply chain.
How will this project impact the U.S. battery supply chain?
This project is expected to enhance domestic production capabilities, reduce reliance on imports, and contribute to job creation in the manufacturing sector.
What materials will the new facility produce?
The facility will focus on manufacturing battery-grade carbon nanotubes and conductive additive dispersions.
Which organizations is Cabot partnering with for this project?
Cabot is collaborating with the North American Building Trades Union and the International Chemical Workers Union Council to support this initiative.
How does Cabot's history in manufacturing contribute to this initiative?
With over 140 years of manufacturing experience, particularly in the automotive supply chain, Cabot is well-equipped to implement this project successfully.
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