Albemarle (ALB.N) is set to receive $67 million for a project in North Carolina to produce commercial quantities of anode material for next-generation lithium-ion batteries, while Honeywell (HON.O) is set to receive $126.6 million to build a commercial-scale facility in Louisiana to produce a key electrolyte salt needed for lithium batteries.

The US Department of Energy announced today plans to dole out more than $3 billion to over two dozen battery projects across 14 states. The money will go toward processing critical minerals, building batteries and their components,

More than $3 billion will go to 25 projects across 14 states to increase domestic production of advanced batteries, the U.S. Department of Energy announced Friday.