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General Motors (NYSE:GM) and battery manufacturer, Microvast Holdings Inc (NASDAQ:MVST) were selected by the U.S. Department of Energy to receive a $200 million grant as part of the first set of projects funded by President Biden’s Bipartisan Infrastructure Law. Over 200 companies applied for $2.8 billion in DOE grant funding and 20 companies were awarded grants.
“It is an honor to be recognized by the DOE and collaborate with General Motors on this important effort to strengthen and accelerate domestic battery supply chain and manufacturing initiatives in North America. This grant will enable Microvast to accelerate its plans to onshore critical battery component manufacturing processes, including mass production of our patented polyaramid separator technology,” said Dr. Wenjuan Mattis, Chief Technology Officer at Microvast. “We expect the safety advantages of our innovative, highly thermally stable polyaramid separators to transform high-energy lithium-ion battery development and drive significant value for the industry,” she continued.
The two companies will use the $200 million DOE grant, along with over $300 million in investments from the companies, to work together to develop specialized EV battery separator technology and build a new separator plant in the U.S. The plant is expected to create hundreds of new jobs.
“This collaboration with Microvast supports our ongoing efforts to develop a North American-focused EV supply chain and help put everyone in an EV,” said Kent Helfrich, GM chief technology officer and vice president of Research and Development. “It will also provide us with pioneering separator technology that can be used in future Ultium batteries, and most importantly, supports our continuing commitment to safety.”
Separators are safety-critical EV battery components that serve to separate the anode from the cathode, allowing for ion transfer. GM will contribute its cutting-edge separator and coating technology to the collaboration with Microvast. The companies will work together to develop new separator technology that can help improve EV safety, charging and battery life.
In addition, the Department of Energy has further recognized GM’s battery expertise by selecting the company for its Battery500 Consortium, which is being awarded $75 million for a second phase of research. GM is the only auto manufacturer selected for the consortium and will work with other members to accelerate development of high-energy, rechargeable lithium metal batteries.
