Biden’s DOE Funnels $50 Million to Green Energy Company That Sources Materials From China
Energy Department announced that funding would be provided to ‘ensure America’s clean energy future’
Jennifer Granholm (energy secretary), President Joe Biden and Amos Hochstein (energy adviser) / Getty Images Collin Anderson • January 11, 2023 1:50 pm
October was a busy month for the Biden Energy department. They announced that they would grant a $50 million grant to a company making lithium batteries. “ensure our clean energy future is American-made.” But the company sources its battery materials in China, highlighting the difficulty the administration faces in ushering in any sort of green energy transition without boosting America’s top geopolitical foe.
Amprius Technologies, an American-based company that relies on Chinese manufacturing, was awarded the lucrative Energy Department award. After forming a $40 million joint venture in 2014 with Wuxi’s public investment arm (Amprius CEO Kang Sun stated at the time that the move would reduce costs), the company built a Wuxi battery factory. Amprius also uses Nanjing as a spin-off to manufacture its battery materials. Recognizing In corporate filings, it was stated that U.S. sanction could eventually affect its ability import such materials.
Amprius’ dependence on China is a reflection of the larger challenges facing the Biden Administration as it attempts growth in the Chinese-dominated green power industry. For example, President Joe Biden’s Inflation Reduction Act offers tax credits for electric vehicles manufactured in North America. However, cars made from Chinese batteries won’t be eligible for the credits beginning next year. American car makers claim that they cannot meet the deadline. Ford, for example, plans to use Chinese batteries for its electric Mustang and F-150—models Biden himself It has Highlighted—and the company and others are fighting This rule has been changed.
Amprius would be unable to comply if such a rule were applied by the Biden administration. According to a report, Amprius is a “religious entity.” December SEC filingShe has bought hundreds of thousands in dollars. “raw materials and development materials” Amprius Wuxi (and Amprius Nanjing), are its Chinese spin-offs. This company purchases it. “may continue” We are moving forward. It won’t be simple to remove China from this supply chain: Amprius states in its December filing that such an effort is not possible “may not yield immediate results or may be ineffective” This could lead to the company raising prices.
A spokesperson for Energy Department said that the Amprius grant would help “build an energy supply chain here.”
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