April 27, 2010
Progress in Implementing the Advanced Batteries and Hybrid Components Program under the American Recovery and Reinvestment Act
The American Recovery and Reinvestment Act of 2009 (Recovery Act) was enacted to stimulate the U.S. economy, create jobs and make infrastructure investments in energy and other areas. The Department of Energy's (Department) Advanced Battery and Hybrid Components Program (Program) received almost $2 billion to support the construction of U.S. based manufacturing plants to produce batteries and electric drive components. While the Department had funded some vehicle battery research in the past, this Program adds a new manufacturing component that the Department must administer. The Program is managed by the Office of Energy Efficiency and Renewable Energy's (EERE) Vehicle Technologies Program and is being implemented and monitored primarily by the National Energy Technology Laboratory (NETL). As of March 17, 2010, NETL had made 20 grant awards from the 30 selections made from its Advanced Batteries and Hybrid Components Funding Announcement. The 20 awards represent almost $1.7 billion of the planned $2 billion allotted to the Program.
Topic: Financial Assistance