Northern Nevada’s burgeoning lithium and battery materials sector received a jolt Monday after being designated as a regional tech hub by the Biden administration.
President Joe Biden named the “Nevada Lithium Batteries and Other EV Material Loop” as one of 31 federally recognized regional tech hubs across the nation. The loop, which includes the greater Reno area and the surrounding region, will be able to qualify for grants to further develop the sector.
The tech hub program is part of efforts by the Biden administration to drive investment in areas outside of major metropolitan hubs.
“For too long, economic growth and opportunity has clustered in a few cities on the coasts,” a White House spokesperson told the Reno Gazette Journal via email.
“The Tech Hubs program will help develop and grow innovative industries in all regions of the country in industries ranging from semiconductors to clean energy, critical minerals, biotechnology, artificial intelligence, and more.”
What are Regional Innovation and Technology Hubs?
Regional Innovation and Technology Hubs are a new federal designation made through the Department of Commerce and the CHIPS and Science act signed by Biden last year.
The regional tech hubs include 31 communities that have been identified as having innovative industries in areas “critical to economic growth, national security, and job creation.” Communities that receive the designation will be eligible to compete for up to $75 million in grants to further develop their technologies.
Tech hubs will also receive support to attract foreign investment and technical assistance from other federal agencies such as the Department of Transportation, Department of Agriculture and the Small Business Administration.
What is the Nevada Lithium Batteries and Other EV Material Loop?
Also known as the “Loop Tech Hub,” the goal of the Nevada Lithium Batteries and Other EV Material Loop is to build a regional cluster for lithium and battery materials.
The University of Nevada, Reno, serves as the lead agency for the Loop Tech Hub, which aims to cover the entire lifecycle for lithium and other key battery materials. This includes mining and material production, battery manufacturing and recycling.
Northern Nevada is already the site of several lithium and battery materials companies, including former Tesla executive JB Straubel’s Redwood Materials, Panasonic Energy, Ioneer and Dragonfly Energy. All are members of the Nevada Battery Coalition.
Earlier this year, Redwood received a $2 billion loan guarantee from the Department of Energy.
The Regional Tech Hub program will build further on such investments, according to the Biden administration.
“Tech Hubs will bring the benefits and opportunities of scientific and technological innovation to communities across the country, with nearly one-quarter located in small or rural areas and more than three-fourths directly supporting historically underserved communities,” the White House spokesperson said.