Vice President Joe Biden’s visit to Michigan on Monday, June 21, for the groundbreaking of a new battery manufacturing facility is evidence that the Recovery Act grants the President announced last August, are starting to hit pay dirt, in the form of ground-breaking’s and ribbon cuttings that will ultimately create “new economy” jobs.
As part of the six-week focus on the “economic recovery act” infrastructure projects nationwide, Biden’s appearance signals the administrations commitment to
environmental and renewable energy projects.
The grant for this battery project is part of the $2.4 billion announced last August to develop next-generation electric vehicles using the lithium polymer battery, a “breakthrough” technology which is a key component in bringing electric vehicles to reality. Officials said the batteries can store up to three times more energy than the nickel metal hydride batteries currently used in most hybrids. Dow Kokam www.dowkokam.com, a joint venture was created by Dow Chemical of Midland, Michigan www.dow.com, to research, develop and produce this new battery technology, and has secured a U.S. Department of Energy grant of $161 million dollars and tax credits totaling $180 million dollars from the State of Michigan.