To qualify for the grant, Solvay will have to match the awarded funds and produce a $356 million facility. The U.S. Department of Energy, which awarded the grant, added that it expects the project to create an additional 500 indirect jobs.
Solvay has had a presence in Augusta since 2000, when it purchased a manufacturing facility from BP Amoco. The company produces specialty polymers and plastic resins which are used in various products, from airplanes to medical devices.
By bringing EV-related manufacturing to Georgia, the company joins the state’s fast-growing electric vehicle production industry.
The state’s two largest and most high-profile economic development projects — Hyundai’s $5.5 billion EV factory near Savannah and Rivian’s $5 billion EV factory east of Atlanta — aim to make Georgia a leader in producing plug-in vehicles.
Augusta has also emerged as a desirable spot for EV parts companies. Last year, German copper smelting company Aurubis announced a $340 million factory and Denkai, a Japanese copper foil producer, announced a $430 million factory, both of which will produce metal materials for EV batteries.
Mike Finelli, president of Solvay Growth Platforms and Chief North American Officer, said in a news release that the large federal grants will help the U.S. bolster its domestic EV parts supply chain.
“We are proud to receive the federal government’s support for manufacturing technologies that will provide the U.S. with critical raw materials for building an independent, sustainable EV value chain,” he said.