RENO, Nev. (KOLO) – The state of Nevada is currently the only place in the country where lithium is mined, processed and then recycled.
“It turns out there’s a lot of lithium here,” said Denis Phares, CEO of Dragonfly Energy. “So it’s a great place to start a battery company.”
Phares said he realized the potential of the area several years ago and relocated his business here, and it was at his warehouse that Sen. Jacky Rosen made the big announcement Tuesday.
“I am very proud to announce that we have been able to secure $21 million for the next phase of the Lithium Loop technology hub in Nevada,” she announced.
The Lithium Loop project is one of 31 regional programs designated as technology hubs last year by the Biden administration. It is part of the federal government’s goal of establishing renewable energy sources on U.S. soil to minimize dependence on foreign nations.
“The goal of this initiative is to invest in areas that have something special,” said U.S. Commerce Secretary Gina Raimondo. “Of course, that’s lithium, which has the largest deposit in North America.”
Secretary Raimondo says President Biden’s “Invest in America” agenda is designed to innovate and compete with the rest of the world.
“What we’re trying to do is make sure that the industries of the future are created in America, that they grow in America and that they create jobs for American workers.”
The Nevada Tech Hub is part of an effort to expand the nation’s tech hubs beyond coastal areas like Silicon Valley. It’s led by the University of Nevada, Reno, and it’s clear that Dean Jeff Thompson sees its importance.
“This is an opportunity for Northern Nevada and Reno to be part of the green revolution,” he said.
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