Sodium-ion battery maker Natron closes shop
5 days ago
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- #clean-energy
- #business-closure
- Natron Energy, a California-based battery maker, ceased operations, halting plans for a $1.4 billion factory in Edgecombe County, NC, which was expected to create over 1,000 jobs.
- The company, which produced industrial sodium-ion batteries, failed to secure additional funding or sales, leading to its closure and layoffs of about 95 employees across its Michigan and California facilities.
- North Carolina officials expressed disappointment, as the project was anticipated to boost the state's economy by over $3.4 billion over 12 years, with no incentives paid out yet.
- Natron's closure marks the second major project failure at the Kingsboro megasite, following the cancellation of a Chinese tire manufacturer's plans in 2022.
- Despite setbacks, economic developers remain optimistic about the Kingsboro site, citing its potential to attract large-scale industrial projects due to its strategic location and prepared infrastructure.