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MegadealsSubsidy Tracker Individual Entry
Company: Microvast
Parent Company:
Subsidy Source: federal
State in Which Facility Is Located: Tennessee
Project Description: Microvast is a majority U.S.-owned company, traded on NASDAQ (MVST) and headquartered in Stafford, Texas, with additional locations Tennessee, Florida, and Colorado. The company is renowned for its cutting-edge cell technology and its vertical integration capabilities, which extend from core battery materials (cathode, anode, electrolyte, and separator) to battery packs. With DOE funding and the companys matching financial investment, Microvast will build a separator facility capable of supplying 19 gigawatt-hour (GWh) of EV batteries, including their existing 2 GWh battery plant in Clarkesville, TN.
Year: 2022
Subsidy Value: $200,000,000
Program Name: Bipartisan Infrastructure Law: Battery Materials Processing and Battery Manufacturing & Recycling Funding
Awarding Agency: Department of Energy
Type of Subsidy: federal grant
Number of Jobs or Training Slots: 700
Capital Investment: $304,540,145
Source of Data:
(click here)
Notes: Year is year of award announcement. Subsidy value is federal portion of project cost. Jobs are new jobs to be created.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.