A Bay Area-based technology company has secured funding for a massive lithium-sulfur battery facility in north Reno .
Lyten announced that it has received support for a funding package worth up to $650 million from the Export-Import Bank of the United States. The bank, also known as EXIM, is a credit agency of the U.S. government.
Lyten plans to use the funding on two lithium-sulfur battery manufacturing projects.
Where are Lyten’s lithium-sulfur battery facilities located?
One is located in California’s Silicon Valley. The other will be located in Reno at Stead Airport’s Reno AirLogistics Park and will be the world’s first “lithium-sulfur battery gigafactory,” according to the company.
“The San Leandro and Reno factories will make the U.S. the world’s leading manufacturer and exporter of lithium-sulfur batteries,” said Dan Cook, Lyten co-founder and CEO.
Lyten first announced its Reno lithium-sulfur battery manufacturing facility last year in October. At the time, the company pledged that it will invest more than $1 billion to build the lithium-sulfur battery gigafactory.