Nanotech Energy reveals search for new US brownfield gigafactory site; decision to follow in Q1 2024

Advantages and incentives of several locations all under consideration

SUNNY ISLES BEACH, Fla. , Nov. 22, 2023 /PRNewswire/ -- Nanotech Energy has revealed its intention to secure a new brownfield site early in 2024 that will accelerate its commercialization of graphene-based non-flammable lithium-ion batteries.

The announcement follows Nanotech Energy's successful sale of its Reno, NV, site today and represents the company's ambition to satisfy increased customer demand. It plans to use the site for an up to 6GWh-per-year plant, marking the next exciting step in its journey to bring US-made fast charging, high energy density and inherently safe batteries to market. The company hopes the new gigafactory will be operational in 2025.

A senior leadership team at Nanotech Energy is now engaged in discussions with several US states. As part of an extensive analysis stage, the team is actively characterizing each state's offering before making a final decision on which site to secure. Each site's potential labor pool, power provisions, and wider incentives are being explored in detail.

Curtis Collar, Chief Sales and Marketing Officer at Nanotech Energy, said: "For too long, the US has relied on other countries for battery manufacturing. As we finalize this decision over the coming weeks, we will take a significant step forward in the journey to bring production of the world's most advanced graphene-based batteries to our great country – with all the jobs, economic benefits, and security advantages that entails. We look forward to revealing our choice soon and ramping up activity on the site in 2025."

About Nanotech Energy
Nanotech Energy is on a mission to bring transformative, graphene-based, energy storage products from the research lab to the mass market. Its very high surface area, single layer graphene material is already being used in multiple applications, including non-flammable lithium-ion batteries, transparent conducting electrodes, conductive inks, printed electronics, conductive epoxy, antistatic coatings and EMI (electromagnetic interference) shielding.

Founded in 2014 by Dr. Jack Kavanaugh and noted UCLA scientists, Dr. Richard Kaner and Dr. Maher El-Kady, Nanotech Energy is headquartered in Los Angeles and is a privately held company backed by Multiverse Investment Fund, Fubon Financial Group, and other strategic investors. Learn more at https://nanotechenergy.com.

SOURCE Nanotech Energy Inc.