ICL Breaks Ground on $400 Million Battery Materials Manufacturing Plant in St. Louis

ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, celebrated the groundbreaking of its battery materials manufacturing plant in St. Louis, which is expected to be the first large-scale lithium iron phosphate (LFP) facility in the U.S. The $400 million facility is planned to be operational by 2025 and will help meet growing demand from the energy storage, electric vehicle (EV) and clean-energy industries for U.S.-produced-and-sourced essential battery materials. ICL’s investment in the plant was augmented by a $197 million grant from the U.S. Department of Energy.

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Missouri Governor Mike Parson (center) speaks with U.S. Secretary of Energy Jennifer M. Granholm following a groundbreaking ceremony Tuesday, Aug. 8, 2023 at the site of ICL’s future battery materials manufacturing facility in St. Louis. The $400 million dollar plant will manufacture materials for lithium iron phosphate batteries and will be the first large-scale facility of its kind in the United States. Also pictured are (left) Phil Brown, president of Phosphate Specialties Solutions at ICL Group and (right) Raviv Zoller, president and CEO of ICL. Photo Credit: ICL.

“President Biden’s Investing in America agenda is providing historic funding that will bring down energy costs for electric vehicles, create good jobs and keep the U.S. on the cutting edge,” said U.S. Secretary of Energy Jennifer M. Granholm at the groundbreaking event. “The momentous groundbreaking of ICL’s battery materials manufacturing facility in St. Louis is part of a manufacturing renaissance to build our country’s supply chain for these clean energy products.”

“ICL is excited to be building the first North American, commercial-scale plant for this critical component required by the energy-storage, mobility and infrastructure end-markets, and we’re proud to make this investment in St. Louis and to create more than 150 high-paying union and professional positions in our hometown,” said Phil Brown, president of the company’s Phosphate Division and managing director of North America for ICL. “We’re excited about the demand we are already seeing for this capacity and are looking forward to moving into this new business. Additionally, as we rapidly move ahead, we are looking forward to partnering with some of the premier participants in this exciting new industry.”