$1.4 Billion Investment in Sodium Ion Battery Gigafactory

Natron Energy, a leading energy storage solutions provider in the US, has unveiled an ambitious $1.4 billion plan to establish a state-of-the-art gigafactory dedicated to sodium ion battery cells. The new facility, set to be located in Edgecombe County, North Carolina, will complement Natron's existing production capabilities in Michigan.

The company has secured nearly $30 million from the North Carolina Megasite Readiness Program to facilitate the onsite preparation of the Kingsboro Megasite, where the gigafactory will be situated. While the exact capacity of the facility has not been disclosed, Natron has expressed its goal of achieving a 40-fold increase in production capacity compared to its current plant in Holland, Michigan, which recently commenced operations and is expected to produce 600MW of sodium ion battery cells.

Colin Wessells, Founder and co-CEO of Natron Energy, expressed his enthusiasm for the project, stating, "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."

Wessells further added, "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 local state government has pledged significant financial support for the Megasite, with $10 million in grants allocated for the current year and a substantial $97.8 million earmarked for 2024-25. Natron Energy stands as the inaugural recipient of funds from the Megasite Readiness Program, reflecting the state's commitment to fostering economic growth and innovation.

Christopher Chung, CEO of the Economic Development Partnership of North Carolina (EDPNC), highlighted the state's recent success in attracting major economic development projects. He stated, "In recent years, North Carolina has had considerable success in attracting large economic development projects, and the EDPNC was tasked to oversee the Megasite Readiness Program to better prepare our state to welcome more of that success."

Chung continued, "With the fund, the state can support the recruitment of large announcements like Natron, which will significantly positively impact Edgecombe County. We look forward to welcoming more projects to our current and future megasites as we continue to drive innovation and growth in the clean energy sector."