Tag: sustainability

Kentucky: The New Battery Capital of the United States

Posted on by scott.hodges

Kentucky is rapidly emerging as a leader in the battery manufacturing industry, with a recent announcement of a $712 million project by Canadian Solar Inc. set to solidify this position. The Shelbyville Battery Manufacturing plant, expected to begin production in late 2025, will create 1,572 jobs and produce industrial-sized batteries for energy storage and distribution.

This investment is part of a larger trend in Kentucky, with battery-related projects totaling nearly $12 billion in investments and creating over 10,280 full-time jobs. Governor Andy Beshear emphasized the state’s ambition to become “the battery capital of the United States.”

The Shelbyville plant will focus on utility-scale energy storage systems, producing batteries that are crucial for a green energy future and a secure power grid. These large batteries, measuring about 20 feet long, can be paired with renewable energy sources like solar and wind, ensuring a steady flow of power even when these sources are not actively generating electricity. For example, when nighttime usage drops as people are sleeping, wind energy can be stored in batteries to be use during times of higher demand.

This shift towards sustainable energy storage marks a significant transition for Kentucky, traditionally known for its coal industry. The state is now positioning itself at the forefront of energy security and grid reliability for the entire country.

The project, the largest in Shelby County’s history, also includes a research and development lab to advance battery technology. This investment not only creates job opportunities but also contributes to Kentucky’s economic momentum and technological advancement in the energy sector.

Hyundai’s $7.6B Georgia Plant Rolls Out First Electric SUVs

Posted on by scott.hodges

Hyundai has officially started producing electric SUVs at its $7.6 billion manufacturing plant in Georgia, less than two years after breaking ground. Located west of Savannah, the facility is a significant step for the South Korean automaker in expanding its electric vehicle (EV) production in the U.S. The plant’s first commercial vehicles, the 2025 Ioniq 5 electric SUVs, are set to hit U.S. dealerships by the end of this year, offering benefits such as zero tailpipe emissions, a reduced carbon footprint, and greater resource efficiency.

Hyundai’s Georgia plant aims to produce up to 300,000 EVs annually, along with the batteries that power them. Once fully operational, it will employ 8,500 workers. Currently, more than 1,000 employees are already staffing the completed vehicle production areas, while construction on the battery facilities continues.

The accelerated timeline for opening the plant was driven by federal incentives under the 2022 Inflation Reduction Act. The Act aims to combat climate change by offering buyers tax credits of up to $7,500 for EVs made in North America with domestic batteries. This spurred Hyundai to expedite its operations to qualify for these benefits, despite initial concerns about the policy’s fairness. The company is planning a grand opening in early 2025. With sustainability at the forefront, Hyundai is committed to using eco-friendly materials and targeting 100% renewable energy in its manufacturing processes, reflecting its dedication to reducing emissions and promoting a greener future through electric mobility.

Recycled Footwear Takes a Step Forward

Posted on by scott.hodges

Rothy’s, the American eco-friendly shoe brand, has gotten a significant investment from the owner of Havaianas. Based in San Francisco, California, and valued at $1 billion, Rothy’s also produces purses, bags, wallets, and men’s loafers, all from recycled and marine plastic.

Over the last few years, investors and customers have paid more attention to the environmental and social impact of the companies they back or buy. AllBirds, another sustainable shoe and fashion company, made a 2021 IPO valued at $4 billion.

Rothy’s was founded by Stephen Hawthornthwaite, chief executive, and Roth Martin, president. They remain significant owners and are involved in operational oversight.