SEATTLE (Recycling Monster): The U.S. Department of Energy (DOE) today announced more than $192 million in new funding towards advancement of battery recycling technology.
The funding support will provide support for recycling batteries from consumer products, launching an advanced battery research and development consortium and the continuation of the Lithium-Ion Battery Recycling Prize. The lithium battery market is projected to rise ten-folds by the end of the current decade, mainly driven by projected rise in demand for electric vehicles.
The DOE’s $125 million Consumer Electronics Battery Recycling Funding Opportunity will focus on development and implementation of education and behaviour change campaigns to boost customer participation in battery recycling programs, improvement of the economics of recycling consumer electronics batteries, providing assistance to state and local governments in establishing battery collection and recycling programmes and help retailers implement programs to recycle consumer electronics batteries.
The fund allocation for Advanced Battery R&D Consortium and The Lithium-Ion Battery Recycling Prize stands at $60 million and $7.4 million respectively.
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