Israeli specialty minerals company ICL (TASE: ICL: NYSE: ICL) has broken ground for its battery materials manufacturing plant in St. Louis. When built it will be the first large-scale lithium iron phosphate (LFP) facility in the US. The $400 million facility is planned to be operational by 2025 and will help meet growing demand from the energy storage, electric vehicle (EV) and clean-energy industries for US produced-and-sourced essential battery materials. ICL’s investment in the plant is supported by a $197 million grant from the US Department of Energy.
US Secretary of Energy Jennifer M. Granholm attended the groundbreaking event. She said, "President Biden’s Investing in America agenda is providing historic funding that will bring down energy costs for electric vehicles, create good jobs and keep the US on the cutting edge. The momentous groundbreaking of ICL’s battery materials manufacturing facility in St. Louis is part of a manufacturing renaissance to build our country’s supply chain for these clean energy products."
ICL North America managing director and phosphate division president Phil Brown said, "ICL is excited to be building the first North American, commercial-scale plant for this critical component required by the energy-storage, mobility and infrastructure end-markets, and we’re proud to make this investment in St. Louis and to create more than 150 high-paying union and professional positions in our hometown. We’re excited about the demand we are already seeing for this capacity and are looking forward to moving into this new business. Additionally, as we rapidly move ahead, we are looking forward to partnering with some of the premier participants in this exciting new industry."
The 140,000-square-foot facility will produce 30,000 metric tons of LFP and will serve as the foundation for the company’s global battery materials business. The new plant will be located on ICL’s existing Carondelet campus in St. Louis.
Missouri Governor Mike Parson said, "We’re proud to have ICL Group in Missouri and even prouder to be able to break ground on this first-of-its-kind facility in our nation right here in St. Louis. We thank our local, state, and federal partners for helping Missouri secure this project and making our state an easy choice for ICL to grow and expand. We look forward to the company’s success and the opportunities it will offer to Missourians in the St. Louis region." The project will create 800 to 900 union construction positions, and ICL has engaged St. Louis-based McCarthy Building Companies as general contractor for the project. ICL is also partnering with Aleees to establish a localized, integrated and sustainable LFP supply chain for U.S.-based customers. Taiwan-based Aleees is a long-standing LFP battery material manufacturer and global IP licensor.
Published by Globes, Israel business news - en.globes.co.il - on August 10, 2023.
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