UPDATE 1-U.S. Energy Department to develop lithium recycling research center [Reuters]
Tesla, Inc. (TSLA)
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Source: Reuters
U.S. Energy Department to develop lithium recycling research center WASHINGTON (Reuters) - The U.S. Energy Department said on Thursday it is launching a research center on lithium battery recycling in an effort to reduce U.S. dependence on foreign sources for the metal that is increasingly being used in electric vehicles and electronics. The department is also launching a prize for lithium battery recycling, with awards of $5.5 million, to speed the process of taking recycling designs from concept to demonstration. Lithium-ion batteries are used widely in everything from laptop computers to cars made by Tesla Inc and others, and demand for them is increasing rapidly as more electric vehicles begin to hit the roads. The initiatives will “leverage the power of competition and the resources of the private sector, universities, and the national laboratories to ... bolster economic growth, strengthen our energy security, and improve the environment,” Energy Secretary Rick Perry said at a
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