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© Italvolt Electronics Production | April 20, 2022

Italvolt-founder starts his next venture – Statevolt

Lars Carlstrom, the founder-CEO of Italvolt, has announced the launch of a new company, Statevolt, which will construct a 54 GWh Gigafactory in Imperial Valley, southern California with an expected CapEx of USD 4 billion.

To launch the new facility, Statevolt has also signed a Letter of Intent (LOI) with Controlled Thermal Resources (CTR).

Under the terms of the LOI, CTR will deliver sustainable, locally produced lithium and geothermal power, from the company's to-be constructed Hell's Kitchen Lithium and Power development.

Statevolt says in a press release that it is currently undertaking due diligence to determine the best location on which to build its facility. Once fully operational, the Gigafactory will have a battery production capacity of 54 GWh, serving around 650,000 electric vehicles a year at full capacity.

“The development of lithium-ion batteries is crucial for the U.S. to meet its goals to transition to Net Zero. Statevolt is proud to begin its journey to develop U.S. expertise and production of lithium-ion batteries, as we look to serve this critical market,” says Lars Carlstrom in the press release.

The company will be led by Lars Carlstrom, the founder of Britishvolt and founder-CEO of Italvolt.  Carlstrom, and the newly-formed Statevolt team, will harness previous learnings in Gigafactory design and engineering, to accelerate the construction process.

“Today, we face a significant shortage in the amount of lithium that is required to meet the demand for electric vehicles. We are pioneering a new, hyper-local business model, which prioritises sustainability and resilience in the supply chain to solve this issue. More importantly, we believe this model will offer Statevolt a significant advantage in producing lithium-ion batteries at scale, to meet booming consumer demand and create good-paying, highly skilled jobs,” the founder continues.
 

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May 24 2022 12:51 pm V20.5.24-1