Binghamton University-Led Battery Effort Gets $113 Million Grant

Sep 5, 2022 03:55 PM ET
  • University's New Energy New York receives $63.7 million from Build Back Better Regional Challenge and also $50 million from the New York state.
  • The grant will certainly aid to bolster domestic battery manufacturing and supply chain, reinvigorate region.

In a key advancement, Binghamton University's New Energy New York project has actually received over $113 million to establish a hub for 'battery innovation' innovation in upstate New York. The United State Economic Advancement Administration revealed that the area would certainly receive greater than $63 million; the State of New York will support the project with an extra $50 million.

US President Joe Biden communicated straight to the 21 grant recipients, consisting of the New Energy New York management team, as well as stated "We developed this challenge to invest $1 billion to create jobs and opportunities for individuals in position where they live and also where they have actually worked their entire jobs, so they do not need to leave."

Binghamton University President Harvey Stenger, specified, "The New Energy New York group has striven on this project and also without the leadership and assistance from Sen. Schumer from the start, we do not think we would certainly be here today." He included that with the remarkable financial support his group we can transform the Southern Tier as well as Finger Lakes areas of New York into the national hub for battery advancement, manufacturing as well as workforce development.

The funding has come through Biden administration's Build Back Better initiative. Under the scheme of things, Binghamton University will establish a battery innovation as well as manufacturing center in an Opportunity Zone in Endicott. Additional projects will certainly sustain the battery industry and also its supply chain.

The main declaration of Binghamton University held that the entire effort is expected to have a $2 billion economic influence. An inventor of the lithium-ion battery stated that the growth will enable The United States and Canada to develop batteries instead of sending America's modern technology overseas.

Per Stromhaug, Associate Vice President for innovation and also economic growth at Binghamton University will certainly act as local financial competitiveness police officer overseeing this project. He noted that the group consulted with greater than 50 business from every part of the battery supply chain in establishing the proposal.

The New Energy New York coalition will certainly utilize recent exclusive investment in the state and also Binghamton University's research strengths-- increasing U.S. international competition and also developing new jobs.

The project includes local workforce growth needed to support the storage production ecological community, with specialized programs to promote equity as well as engagement of people from underrepresented and disadvantaged histories.

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