North Carolina Construction News staff writer
Natron Energy, Inc. will build the first sodium-ion battery gigafactory in the United States at the Kingsboro megasite, creating more than 1,000 jobs, Gov. Roy Cooper announced this week. The company will invest nearly $1.4 billion in Edgecombe County.
“North Carolina’s momentum in the clean energy economy reaches epic proportions with today’s news,” said Governor Cooper. “Natron Energy’s choice to build this large and unique battery factory in our state will help the nation reduce greenhouse gas emissions while creating good jobs in Rocky Mount, Nash and Edgecombe counties, and many other places in eastern North Carolina.”
Natron Energy, founded in 2012 with headquarters in Santa Clara, California, is a pioneer in the research, development, and manufacture of sodium-ion batteries (NIBs). Natron’s innovative battery cells leverage the company’s patented Prussian blue electrodes to deliver safe, high-power, long-life battery energy storage solutions. The sodium-ion batteries are non-flammable and cannot be induced to thermal runaway, creating a safer solution than counterparts on the market today.
The company’s project in North Carolina, known in industry parlance as a giga-scale factory to showcase the high output of its production capacity, will establish operations at the Kingsboro Business Park, named in a recent study as North Carolina’s premiere megasite.
“As the world progresses toward a clean energy future, business operators are increasingly in need of safe, reliable, and efficient energy storage systems,” said Wendell Brooks, co-CEO, Natron Energy. “The Kingsboro megasite offers not only ideal site characteristics, but access to a world-class labor force and a business-friendly climate. With today’s announcement, Natron will be well-positioned to meet that growing demand. The state of North Carolina is a leader in clean energy manufacturing, and we’re proud to have the opportunity to contribute to that growing legacy in Edgecombe County.”
The North Carolina Department of Commerce coordinated the state’s recruitment of Natron Energy, which also involved several state, regional, and local organizations.
Natron Energy’s project in the state, which will officially be executed through a newly formed subsidiary company, will be facilitated in part by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $3.4 billion.
Using a formula that takes into account the new tax revenues generated by the 1,062 new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $21,747,000, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
“North Carolina, with its leadership in clean energy manufacturing and commitment to fostering innovation, is an ideal home for Natron and this groundbreaking facility,” said Colin Wessells, Founder and co-CEO, Natron Energy. “This facility will drastically increase the company’s production capacity, creating a sustainable growth trajectory as we seek to fundamentally change the way that industrial power is used.”