StarPlus

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PROJECT SUMMARY 

In December 2024, the Department of Energy’s (DOE) Loan Programs Office (LPO) announced the closing of a $7.54 billion loan ($6.85 billion in principal and $688 million in capitalized interest) to StarPlus Energy LLC (StarPlus Energy). The loan will help finance up to two lithium-ion battery cell and module manufacturing plants in Kokomo, Indiana.   

ECONOMIC IMPACT  

The project is expected to create approximately 3,200 peak construction jobs, up to 2,800 operations jobs at the plants, and hundreds of additional jobs at a nearby supplier park.    

The project will greatly expand EV battery manufacturing capacity in North America and reduce North American reliance on China and foreign sourcing of EV batteries.  

CLIMATE BENEFIT 

At full capacity, the StarPlus project will produce about 67 GWh of batteries, enough to supply approximately 670,000 vehicles annually.  

DOE estimates the EVs produced using StarPlus batteries will displace the usage of 260.3 million gallons of petroleum per year. 

COMMUNITY BENEFIT  

The new StarPlus facilities are being constructed under the National Maintenance Agreement, a national collective bargaining agreement, overseen by the National Maintenance Agreement Policy Committee. The NMA, to which all local building trades unions are signatories, helps to ensure workforce continuity and mitigate project delays.  

StarPlus is also partnering with local educational institutions, such as Ivy Tech Kokomo and Purdue Polytech, to ensure local workers have the training required to fill the jobs. StarPlus is also developing Department of Labor-approved electro-mechanical apprenticeships. 

PROJECT STATISTICS: StarPlus 

* Last Updated December 2024. Approximate amount of the loan approved at closing including principal and any capitalized interest. 

** Estimated at the time of closing