The U.S. Department of Energy (DOE) recently announced the four Phase III winners of the Lithium-Ion Battery Recycling Prize. The multiphase competition incentivized American entrepreneurs to develop and demonstrate processes that, when scaled, have the potential to profitably capture 90% of all discarded or spent lithium-based batteries in the U.S. for eventual recovery and reintroduction of key materials into the U.S. supply chain.
Li Industries (Blacksburg, Va.), Renewance (Chicago, Ill.), Smartville (San Diego, Calif.), and Titan Advanced Energy Solutions (Sommerville, Mass.) were named the four Phase III winners and will share the $2 million prize evenly. Over its three phases, the competition awarded $5.5 million to 15 teams around the country.
“The prize model catalyzes research and development and empowers American ingenuity,” said U.S. Deputy Secretary of Energy David Turk. “Public partnerships like the Battery Recycling Prize are critical to enhancing our national leadership in the energy marketplace.”
As demand for consumer products such as electric vehicles, cell phones, and tablets rises, the recycling of critical materials from spent and discarded lithium-ion batteries will be essential to reducing product costs and America’s reliance on foreign component sources. The next iteration of the Lithium-Ion Battery Recycling Prize will be made possible by the Bipartisan Infrastructure Law (BIL), which directs more than $7 billion to strengthen the U.S. battery supply chain.
Additional details are available at www.herox.com/batteryrecyclingprize.