A Total of $43 Million in Non-Dilutive Federal Funding Awarded to Onshore Advanced Electrolyte Production
ALAMEDA, Calif., Feb. 3, 2025 /PRNewswire-PRWeb/ -- Anthro Energy is excited to announce an allocation of $18.4 Million in investment tax credits under the second round of the Inflation Reduction Act's (IRA) 48C Qualifying Advanced Energy Project Tax Credit program. The 48C Program, administered by the Internal Revenue Service (IRS) in collaboration with the U.S. Department of Energy (DOE), was expanded under the IRA with a $10 Billion investment to fund critical energy infrastructure projects. Forty percent of the funds are earmarked for energy communities, including regions impacted by the closure of coal mines or coal-fired power plants.
This support builds on Anthro's recently secured $25 Million award from the Department of Energy's Office of Manufacturing and Energy Supply Chain (DOE MESC), awarded under the Bipartisan Infrastructure Law (BIL). Anthro signed the contract and finalized negotiations for the BIL funding on January 16, 2025. Together, these funding sources provide Anthro a total of $43 Million in non-dilutive capital to establish the first large-scale facility dedicated to the domestic production of advanced battery electrolytes.
"We are excited to receive this tax credit, which reflects the federal government's confidence in Anthro's technology and the important role our advanced electrolyte production plays in securing the country's supply chain," said David Mackanic, CEO of Anthro Energy. "The backing from the DOE and IRS will help enable Anthro to move forward with our vision to secure our energy future with manufacturing on American soil."
Anthro Energy's project was selected through a competitive process that emphasizes innovation and impactful initiatives. The new facility will be instrumental in bolstering the U.S. supply chain for advanced battery technologies while contributing to the revitalization of an Energy Community Once operational, the facility is projected to produce 25 GWh of proprietary Anthro Proteus™ branded electrolytes to enhance the safety, lifespan, and performance of modern lithium-ion battery cells. This facility will allow Anthro to meet widespread demand from industries ranging from consumer electronics to defense to energy storage and EV applications, serving as an important domestic source of critical materials.
For more information, visit www.anthroenergy.com.
Media Contact
Jackie Nguyen, Anthro Energy, 1 408-703-2967, [email protected], https://www.anthroenergy.com/
SOURCE Anthro Energy
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