EnerVenue to open US gigafactory
Metal-hydrogen battery company EnerVenue is to open a one-million-square-foot gigafactory in Shelby County, Kentucky in the US.
The 73-acre site will become the manufacturing plant for its energy storage systems, with all aspects of design and process validation, manufacturing and testing performed onsite. The first phase of the project will encompass 1GWh of annual production.
EnerVenue said it expects to invest in excess of $1 billion to expand to more than 20GWh per year “across its domestic manufacturing sites in subsequent phases”.
The new gigafactory, located in the heart of Kentucky’s manufacturing region, is expected to create 450 full-time jobs during the initial opening and first phase. Shelby County offered EnerVenue an incentive package comprising property and wage tax rebates totalling $20 million over a 25-year period, Enervenue said.
The state of Kentucky also offered EnerVenue more than $10.3 million in tax incentives for its first phase.
The gigafactory is expected to begin production by the end of the year.