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anode pipeline grows 150% since IRA but large North American deficit still forecast","us-anode-pipeline-grows-150-since-ira-but-large-north-american-deficit-still-forecast","article/us-anode-pipeline-grows-150-since-ira-but-large-north-american-deficit-still-forecast",{"_uid":557,"date":558,"tags":559,"editor":574,"content":584,"excerpt":711,"featured":51,"reporter":712,"_editable":716,"component":717,"seo_title":553,"categories":718,"visibility":723,"author_company":49,"data_vis_image":724,"featured_image":729,"seo_description":711,"author_full_name":49,"author_job_title":49,"formattedDate":733,"formattedArticleDate":734},"ecb1ba36-d868-4203-b5f1-6f39a155ca85","2024-03-28 00:00",[560,562,565,568,571],{"slug":561,"name":263},"anode",{"slug":563,"name":564},"data-visualisation","Data Visualisation",{"slug":566,"name":567},"inflation-reduction-act","Inflation Reduction Act",{"slug":569,"name":570},"usa","USA",{"slug":572,"name":573},"policy","Policy",[575],{"slug":576,"name":577,"content":578},"matthew-bird","Matthew Bird",{"job_title":579,"image":580,"bio":582,"linkedin":583},"Senior Editor - Supply Chains & Data Visualisation",{"filename":581},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":585,"content":586},"doc",[587,594,599,608,623,635,640,645,658,665,670,683,688,701,706],{"type":588,"attrs":589,"content":590},"paragraph",{"textAlign":49},[591],{"text":592,"type":593},"US anode pipeline capacity to 2030 has risen nearly 150% since the enactment of the Inflation Reduction Act (IRA), according to Benchmark data. The number of facilities has risen from 12 in July 2022 to 21 in December 2023.","text",{"type":588,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":593},"“The IRA has catalysed the anode capacity pipeline growth in North America, with the act’s incentives enabling players to push for increased expansion plans and foster a shift towards a more self-sufficient regional battery supply chain,” said Tony Alderson, an anode analyst at Benchmark.",{"type":588,"attrs":600,"content":601},{"textAlign":49},[602],{"type":603,"attrs":604},"image",{"id":49,"alt":605,"src":606,"title":49,"source":49,"copyright":49,"meta_data":607},"","https://a.storyblok.com/f/287943243085208/3eebb15277/bm-us-anode-capacity-line-chart.png",{},{"type":588,"attrs":609,"content":610},{"textAlign":49},[611,613,621],{"text":612,"type":593},"Despite the build out, the Benchmark ",{"text":614,"type":593,"marks":615},"Anode Forecast",[616],{"type":617,"attrs":618},"link",{"href":619,"uuid":49,"anchor":49,"target":49,"linktype":620},"https://www.benchmarkminerals.com/forecasts/anode/reports/","url",{"text":622,"type":593}," expects a supply-demand deficit of more than 240,000 tonnes in 2024 for North America, a figure which exceeds 700,000 by the end of the decade.",{"type":588,"attrs":624,"content":625},{"textAlign":49},[626,628,633],{"text":627,"type":593},"China is set to remain a dominant player in the anode sector. Having moved early in the anode industry, Chinese manufacturers benefit from patented technology and operating expertise. This is reflected in the market: in 2023, 92% of anode supply came from China, according to Benchmark’s ",{"text":629,"type":593,"marks":630},"Anode Forecast Report Q4 2023",[631],{"type":617,"attrs":632},{"href":619,"uuid":49,"anchor":49,"target":49,"linktype":620},{"text":634,"type":593},". ",{"type":588,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":593},"This poses an issue for anode aspirants seeking to benefit from IRA subsidies. EVs are ineligible for IRA tax credits if any of their batteries, minerals or components originate from a ‘Foreign Entity of Concern’, of which China is one.",{"type":588,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":593},"“It may prove challenging for ex-China anode aspirants to build out sufficient regional supply to meet the surging downstream demand without some level of Chinese involvement in overseas projects, or continued imports from the country,” said Alderson.",{"type":588,"attrs":646,"content":647},{"textAlign":49},[648,650,656],{"text":649,"type":593},"Currently, Syrah Resources, an Australian-listed graphite and anode company, operates the only commercial scale vertically integrated natural graphite anode facility outside of China. The ",{"text":651,"type":593,"marks":652},"Vidalia facility",[653],{"type":617,"attrs":654},{"href":655,"uuid":49,"anchor":49,"target":49,"linktype":620},"https://source.benchmarkminerals.com/article/syrahs-anode-material-production-start-in-us-sets-stage-for-localised-supply",{"text":657,"type":593},", located in Louisiana, US, began production in Q1 2024 with an initial production capacity of 11,250 tonnes per year.",{"type":659,"attrs":660,"content":662},"heading",{"level":661,"textAlign":49},4,[663],{"text":664,"type":593},"Recent offtake agreements investments",{"type":588,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":593},"In early February 2024, US-based Westwater Resources announced a natural graphite anode offtake deal with SK On, a South Korean battery manufacturer. Westwater will supply natural graphite anode material from its Kellyton anode project in Alabama, US to SK On’s US battery facilities. ",{"type":588,"attrs":671,"content":672},{"textAlign":49},[673,675,681],{"text":674,"type":593},"The Kellyton anode project is targeting a first phase nameplate capacity of 12,500 tonnes per year with production scheduled for early 2025, according to Benchmark’s ",{"text":676,"type":593,"marks":677},"Anode Price Assessment",[678],{"type":617,"attrs":679},{"href":680,"uuid":49,"anchor":49,"target":49,"linktype":620},"https://www.benchmarkminerals.com/price-assessments/anode/portal/?tab=table",{"text":682,"type":593},". Westwater has outlined plans to expand the project’s total nameplate capacity to approximately 40,000 tonnes per year by 2028.",{"type":588,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":593},"Novonix, an Australian-listed aspiring anode player, also announced a binding offtake deal with Panasonic Energy in early February 2024. Novonix will supply synthetic graphite anode material from its Riverside project in Tennessee, US to Panasonic’s planned battery facilities in the country. The agreement is for 10,000 tonnes of anode material between 2025 and 2028.",{"type":588,"attrs":689,"content":690},{"textAlign":49},[691,693,699],{"text":692,"type":593},"Another North American development from February this year was Canada’s Nouveau Monde Graphite (NMG) signing ",{"text":694,"type":593,"marks":695},"multiyear offtake agreements",[696],{"type":617,"attrs":697},{"href":698,"uuid":49,"anchor":49,"target":49,"linktype":620},"https://source.benchmarkminerals.com/article/north-americas-anode-push-accelerates-with-nouveau-monde-gm-deal",{"text":700,"type":593}," with GM and Panasonic Energy for natural graphite anode material. NMG will supply both GM and Panasonic 18,000 tonnes of anode material each year, spread over six and seven years respectively. The graphite will be sourced from NMG’s Matawinie mine and processed at its Bécancour facility. ",{"type":659,"attrs":702,"content":703},{"level":661,"textAlign":49},[704],{"text":705,"type":593},"Giga USA 2024",{"type":588,"attrs":707,"content":708},{"textAlign":49},[709],{"text":710,"type":593},"Join us in Washington DC 11-13 June 2024 for Giga USA where we will dive into the state of the anode supply chain the USA. Fill out the form below for more details.","US anode pipeline capacity to 2030 has risen nearly 150% since the enactment of the Inflation Reduction Act (IRA), according to Benchmark data. The number of facilities has risen from 12 in July 2022 to 21 in December 2023. “The IRA has catalysed the anode capacity pipeline growth in North America, with the act’s incentives […]",[713],{"slug":576,"name":577,"content":714},{"job_title":579,"image":715,"bio":582,"linkedin":583},{"filename":581},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"ecb1ba36-d868-4203-b5f1-6f39a155ca85\", \"id\": \"\"}-->","article",[719,720],{"slug":561,"name":263},{"slug":721,"name":722},"silicon-anode","Silicon Anode","private",{"id":49,"alt":725,"name":605,"focus":605,"title":725,"source":605,"filename":726,"copyright":605,"fieldtype":727,"meta_data":728,"is_external_url":51},"Line chart showing increase in US 2030 anode capacity between January 2022 and February 2024","https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1711629534/www-production/US-anode-capacity-line-chart-1/US-anode-capacity-line-chart-1.png?_i=AA","asset",{"alt":725,"title":725,"source":605,"copyright":605},{"id":49,"alt":730,"name":605,"focus":605,"title":730,"source":605,"filename":731,"copyright":605,"fieldtype":727,"meta_data":732,"is_external_url":51},"Syrah's Vidalia Facility in Louisiana USA","https://a.storyblok.com/f/287943243085208/9673beddd5/bm-syrahs-vidalia-facility-in-louisiana-usa.jpg",{"alt":730,"title":730,"source":605,"copyright":605},"Mar 28, 2024","28th March 2024",[],[],1792773903357]