Natron Energy Inc. is making a significant investment by pouring $1.4 billion into a new Sodium-ion Battery factory. This exciting development is set to take place at the Kingsboro CSX Select Megasite in Edgecombe County, North Carolina.
This strategic move will create more than 1,000 jobs in the area, providing an average salary of $64,071. This is a significant increase over the county’s average wage of $43,183. The annual payroll impact is expected to reach close to $77 million, making it a substantial economic boost for the region.
Investment in North Carolina
The factory is located on a vast 2,187-acre site, situated just outside Rocky Mount, and is part of a select number of megasites in North Carolina. The North Carolina Megasite Readiness Program is supporting this initiative, contributing close to $30 million for site preparation. This funding demonstrates the state’s commitment to fostering economic development.
Impact on Local Economy
With North Carolina’s general assembly assigning the Economic Development Partnership of North Carolina (EDPNC) to oversee the program, there is a clear focus on preparing the state for more large-scale projects. The program received an additional $97.8 million for the fiscal year 2024-25, showing a strong legislative support for similar ventures in the future.
According to Christopher Chung, CEO at EDPNC, the funding is crucial for attracting projects like Natron’s. He emphasizes that such investments will have a positive impact on Edgecombe County and other megasites.
About Natron Energy
Established in 2012 in California, Natron Energy is known for producing ultra-safe and high-powered batteries. The company is the only commercial manufacturer of sodium-ion batteries in the United States. Their products are innovative, with their Sodium-ion Battery being the first in the world to receive a UL 1973 listing. This allows deployment in data centers, forklifts, and EV fast-charging facilities.
Earlier this year, Natron opened North America’s first Sodium-ion Battery production facility in Holland, Michigan. The new factory in North Carolina will expand this production capacity, further solidifying Natron’s presence in the battery manufacturing industry.
This investment highlights Natron’s commitment to the growth and development of sodium-ion technology. It places North Carolina at the forefront of the battery manufacturing sector. With these strategic moves, Natron Energy is not only expanding its footprint but also creating significant job opportunities in the region.
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