Natron Energy Announces Plans for $1.4 Billion Giga-Scale Sodium-Ion Battery Manufacturing Facility in North Carolina

SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug 15, 2024--

Natron Energy, Inc. (“Natron” or “the Company”), a global leader in sodium-ion battery technology, today announced plans to build the first sodium-ion battery gigafactory in the United States. The facility will be located in Edgecombe County, NC, and is expected to produce 24GW of Natron’s revolutionary sodium-ion batteries annually at full capacity. Natron’s sodium-ion batteries offer higher power density, more cycles, a domestic U.S. supply chain, and unique safety characteristics over other battery technologies.

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Natron Energy manufactures sodium-ion battery products based on a unique and patented Prussian blue electrode chemistry for a wide variety of industrial power applications ranging from critical backup power systems for AI data centers to EV fast charging and system hybridization. (Photo: Business Wire)

The nearly 1.2 million sq. ft. facility, located at the 437-acre Kingsboro megasite, will represent a total investment of nearly $1.4 billion from Natron Energy, facilitated in part by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Today’s news was announced by Governor Roy Cooper at an Edgecombe County event attended by Natron executives, North Carolina Commerce Secretary Machelle Baker Sanders, and a number of local officials.

“Today is a momentous day for Natron Energy. This flagship manufacturing facility will dramatically accelerate our efforts to deliver sodium-ion batteries to customers who are hungry for safe, reliable, and environmentally responsible energy storage solutions,” said Colin Wessells, Founder and co-CEO, Natron Energy. “After evaluating over 70 sites across 9 states, we found that North Carolina, with its leadership in the clean energy revolution, would make the perfect home for this project. We are proud to partner with the state on this ambitious project to deliver high-quality jobs to the community while advancing the electrification of our economy. We look forward to joining the Edgecombe County business community.”

The Edgecombe County facility will enable a 40x scale-up of Natron’s current production capacity, accelerating the company’s technology commercialization while supporting over 1,000 high-quality, local clean energy jobs at full operating capacity. Natron’s batteries are the only UL-listed sodium-ion batteries on the market today, and will be delivered to a wide range of customer end markets in the industrial power space, including data centers, mobility, EV fast charging, microgrids, and telecom, among others.

“North Carolina’s momentum in the clean energy economy reaches epic proportions with today’s news,” said Governor Cooper. “Natron Energy’s choice to build this large and unique battery factory in our state will help the nation reduce greenhouse gas emissions while creating good jobs in Rocky Mount, Nash and Edgecombe counties, and many other places in eastern North Carolina.”

This project will be facilitated in part by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $3.4 billion. The JDIG agreement authorizes the potential reimbursement to the company of up to $21,747,000, spread over 12 years. Natron and the state also anticipate additional support being provided for the project through the first use of the North Carolina Megasite Readiness Program, a new state grant program open to local governments and designed to provide funds to help prepare or upgrade qualifying industrial sites to the competitive level required in today’s economic development marketplace. Grants from the Megasite Readiness Program are awarded to local governments and must be approved by the state’s Economic Investment Committee, the same body that approves JDIG awards. The state expects Edgecombe County will apply for a $30 million grant from the fund.

“This facility advances Natron Energy’s position as the leader of the next battery revolution,” said Wendell Brooks, co-CEO, Natron Energy. “Once operational, the Edgecombe County facility will accelerate Natron’s growth trajectory, allowing us to capitalize on the growing demand for efficient, safe, and reliable sodium-ion battery energy storage. We’re proud to be leading the charge in the advancement of a domestic battery supply chain, and we’re grateful for the partnership of local and state officials here in North Carolina.”

Natron’s patented Prussian blue electrodes store and transfer sodium-ions faster, and with lower internal resistance than any other commercial battery on the market today. The Company’s battery chemistry presents zero strain during charging and discharge, 10x faster cycling than traditional lithium-ion batteries, and 50,000+ cycle life. Natron’s supply chain requires zero lithium, cobalt, nickel, or other difficult-to-obtain minerals. Made from commodity materials including aluminum, iron, manganese, and sodium electrolyte, Natron’s cells, modules, and battery represent an environmentally and socially responsible alternative to lead-acid and lithium-ion batteries.

The North Carolina Department of Commerce coordinated the state’s recruitment of Natron Energy, which also involved several state, regional, and local organizations.

Natron would like to thank the following firms for their efforts in making this a successful site selection process: Savills, Boundary Stone Partners, Womble Bond Dickinson, DARCAS Inc., O’Neal Inc., and Quest Site Solutions.

About Natron Energy

Natron Energy manufactures sodium-ion battery products based on a unique and patented Prussian blue electrode chemistry for a wide variety of industrial power applications ranging from critical backup power systems for AI data centers to EV fast charging and system hybridization. Natron’s mission is to transform critical power, industrial and grid energy storage markets by providing customers with batteries that offer higher power density, faster recharge, and a significantly longer cycle life than incumbent technologies. Natron’s safe, sustainable products are UL 1973 listed, are not susceptible to thermal runaway, and do not use conflict minerals. Learn more about Natron and its sodium-ion technology at Natron.energy.

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CONTACT: Natron Media Contact:

Natron@icrinc.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NORTH CAROLINA

INDUSTRY KEYWORD: OTHER MANUFACTURING TECHNOLOGY ENGINEERING OTHER ENERGY CHEMICALS/PLASTICS UTILITIES MANUFACTURING ENERGY BATTERIES

SOURCE: Natron Energy, Inc.

PUB: 08/15/2024 06:08 PM/DISC: 08/15/2024 06:08 PM

http://www.businesswire.com/news/home/20240815622233/en