On October 9, Cabot announced that it would build a new production facility in the United States to produce battery-grade carbon nanotubes (CNTs) and conductive additive dispersions on a commercial scale. These materials are crucial to China's lithium-ion battery supply chain for electric vehicles (EVs) and power grids, helping reduce dependence on imports. The U.S. Department of Energy funding will cover nearly 30% of the project's estimated total investment of $181 million.

Cabot plans to renovate, renovate and restore a former automotive manufacturing site in Wayne County, Michigan, making it the first U.S. production facility to produce battery-grade carbon nanotubes and conductive additive dispersions. Cabot has partnered with the North American Construction Union (NABTU), the International Council of Chemical Workers 'Unions (ICWUC) and the Michigan Council of Construction Unions (MBCTC) to support the project.

This is another new investment in the battery industry by Cabot after announcing Cabot High Performance Battery Materials (Tianjin) Company. Sean Keohane, President and CEO of Cabot, said: "We are honored to have been selected by the U.S. Department of Energy for award negotiations, which will allow us to further fulfill our commitment to supplying critical materials to the electric vehicle battery market and ultimately strengthen the U.S. battery supply chain. This investment will help us expand the production of key battery materials and look forward to working closely with the U.S. Department of Energy and partners to ensure the success of this important project."