Australian company Element 25 is exploring plans to build an electric vehicle battery materials production facility in Ascension Parish, LED announced last week.
If the project comes to fruition, the facility would be the first in the Western Hemisphere to manufacture high-purity manganese sulfate monohydrate, a critical component in EV batteries.
Element 25 would invest $480 million to build the facility, with construction beginning as early as the third quarter and operations projected to start in 2026.
LED has offered a $6 million performance-based grant for the reimbursement of infrastructure expenditures to lure the company to Ascension, as well as workforce development support through LED FastStart. Element 25 is also expected to apply for the state’s Quality Jobs and Industrial Tax Exemption programs.
The facility would create up to 220 direct jobs with average annual salaries of more than $90,000. Read the announcement.