AZL General Discussion, page-7570

Lars Carlstrom announces launch of Statevolt to develop 54GWh Gigafactory in California

"Lars Carlstrom, the founder-CEO of Italvolt, has today announced the launch of a new company, Statevolt, which will construct a 54GWh Gigafactory in Imperial Valley, southern California with an expected CapEx of $4 billion. To launch the new facility, Statevolt has also signed a Letter of Intent (LOI) with Controlled Thermal Resources (CTR)."

"Statevolt's planned partnership with CTR brings a new, 'hyper-local' sustainable business model for lithium-ion battery development in the U.S. The arrangement is one of the first of its kind in the world and will see the business source its key feedstock, lithium, and its power from local resources, in order to minimize the environmental impact of production and build a more sustainable and secure supply chain. Simultaneously it will help facilitate the development of a micro-industry in the area, delivering up to 2,500 direct jobs for Imperial Valley and the region more widely."

AZL has the "hyper-local" market covered in Arizona. This will be a big selling point for all stakeholders in the lithium space.