EnerVenue to build 1-GWh factory for metal-hydrogen battery systems in Kentucky

EnerVenue, a company making metal-hydrogen batteries, revealed that it will be constructing a 3 million-square-foot factory in Shelby County, Kentucky, to create its Energy Storage Vessels. The entire 73-acre area will be utilized for design, process validation, manufacturing, and testing. The project will begin with a yearly capacity of 1 gigawatt-hour. EnerVenue plans to make a financial commitment over $1 billion to increase its domestic processing plants to beyond 20 GWH every year. Governor Andy Beshear stated, “Having EnerVenue’s gigafactory in Kentucky is a plus for the commonwealth.” The leadership of this region has made it a top priority to attract jobs of superior quality, and this is just another example of their hard work paying off. The forecast is that the grand opening of the gigafactory situated in the important manufacturing area of Kentucky will engender 450 steady employment opportunities during the infant stages and climbing of production. Shelby County presented EnerVenue with a favorable long-term incentive deal which involves property tax and wage tax discounts totaling $20 million over the course of 25 years, matching their considerable investment in the area. The government of Kentucky provided EnerVenue with incentives that totaled more than $10.3 million for the first part of the firm’s growth. Tax rebates will drive growth in the area and encourage more developments as the gigafactory increases job openings. Demand for EnerVenue’s exclusive solution for secure, long-lasting, and diverse green energy storage is continuing to surge.