Binghamton University-Led Battery Initiative Gets $113 Million Grant

Highlights :

  • University’s New Energy New York receives $63.7 million from Build Back Better Regional Challenge and $50 million from the New York state.
  • The grant will help to bolster domestic battery manufacturing and supply chain, reinvigorate region.
Binghamton University-Led Battery Initiative Gets $113 Million Grant

In a key development, Binghamton University’s New Energy New York project has received over $113 million to establish a hub for ‘battery technology’ innovation in upstate New York. The U.S. Economic Development Administration announced that the region would receive more than $63 million; the State of New York will support the project with an additional $50 million.

US President Joe Biden interacted directly to the 21 grant recipients, including the New Energy New York leadership team, and said “We designed this challenge to invest $1 billion to create jobs and opportunities for people in places where they live and where they have worked their entire careers, so they don’t have to leave.”

Binghamton University President Harvey Stenger, stated, “The New Energy New York team has worked hard on this project and without the leadership and guidance from Sen. Schumer from the beginning, we do not believe we would be here today.” He added that with the tremendous financial support his team we can turn the Southern Tier and Finger Lakes regions of New York into the national hub for battery innovation, manufacturing and workforce development.

The funding has come through Biden administration’s Build Back Better initiative. Under the scheme of things, Binghamton University will develop a battery technology and manufacturing center in an Opportunity Zone in Endicott. Additional projects will support the battery industry and its supply chain.

The official statement of Binghamton University held that the entire initiative is expected to have a $2 billion economic impact. An inventor of the lithium-ion battery said that the development will enable North America to develop batteries rather than sending America’s technology overseas.

Per Stromhaug, Associate Vice President for innovation and economic development at Binghamton University will serve as regional economic competitiveness officer overseeing this project. He noted that the team consulted with more than 50 companies from every part of the battery supply chain in developing the proposal.

The New Energy New York coalition will leverage recent private investment in the state and Binghamton University’s research strengths — boosting U.S. global competitiveness and creating new jobs.

The project includes regional workforce development required to support the storage manufacturing ecosystem, with dedicated programs to promote equity and participation of individuals from underrepresented and disadvantaged backgrounds.

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