A company that planned to build a landmark $1.4 billion “gigafactory” for advanced batteries in North Carolina is shutting down operations, according to an internal memo distributed to employees.
The move by Natron Energy is a blow for development of sodium-ion technology, which avoids some of the mining and flammability challenges associated with lithium-ion batteries. Last year, Natron announced its factory would provide the nation’s first gigawatt-scale production of sodium-ion batteries with support from Chevron, United Airlines and Inflation Reduction Act subsidies.
“We appreciate our customers and partners support through our journey and this is not how we or anyone at Natron wanted this to end,” said the memo viewed by POLITICO’s E&E News. Natron added in that memo that it would discontinue operations on Wednesday because of financing challenges.
“While a small team of Natron employees are being retained to shut down Natron in a safe and environmentally responsible manner, none of the commercial team will be retained,” the memo said. “We will not be in a position to deliver on any current or future orders.”
