ANNOUNCEMENT 01 Jan 2010
The Department of Energy made this award as part of the Electric Drive Vehicle Battery and Component Manufacturing Initiative, as funded under the stimulus package approved during the 2008-2009 financial crisis.
NUMBER OF INTERVENTIONS
As part of the Electric Drive Vehicle Battery and Component Manufacturing Initiative, the Department of Energy (DOE) made an award to A123 Systems, Inc. of $249.1 million for the manufacture of nano-iron phosphate cathode powder and electrode coatings; fabrication of battery cells and modules; and assembly of complete battery pack systems for hybrid and electric vehicles. The precise date for this award is not available from the data that the DOE has made public. The January 1, 2010 date shown here is an estimate.
The funding for this project came from the stimulus package that Congress approved in the financial crisis. On February 17, 2009 President Obama signed into law the American Recovery and Reinvestment Act (ARRA), which became Public Law 111-5. One provision in Title IV of the ARRA appropriated $16.8 billion for energy efficiency and renewable energy; $2 billion of those funds were to “be available for grants for the manufacturing of advanced batteries and components and the Secretary shall provide facility funding awards under this section to manufacturers of advanced battery systems and vehicle batteries that are produced in the United States, including advanced lithium ion batteries, hybrid electrical systems, component manufacturers, and software designers.”