Lars Carlstrom, Italvolt’s creator, and CEO revealed the formation of a new firm, Statevolt, which will build a 54GWh Gigafactory in Imperial Valley, southern California, with an estimated capital expenditure of US$ 4bn.
Statevolt has already signed a Letter of Intent (LOI) with Controlled Thermal Resources (CTR) to kick off the new project. CTR will offer sustainable, locally produced lithium and geothermal power under the conditions of the LOI from the company’s to-be-built Hell’s Kitchen Lithium and Power venture.
Statevolt is now conducting research to establish the optimal site for their facilities. When fully operational, the 54GWh Gigafactory in Imperial Valley will be one of the largest in North America, with a battery production capacity of 54GWh, servicing approximately 650,000 electric vehicles each year.
Statevolt’s project team, headed by Lars Carlstrom, the founder of Britishvolt and the founder-CEO of Italvolt, offers substantial industry experience and expertise to the initiative, as well as an eco-system of experienced project development partners. Carlstrom and the newly created Statevolt team will use prior Gigafactory design and technical knowledge to speed the construction process and develop an industry-leading facility.
CTR’s leadership team is uniquely positioned to offer Statevolt strong regional experience and technical knowledge to optimize Statevolt’s responsibility to achieve the highest standards of sustainability, having built and managed geothermal operations in the Imperial Valley region for over 30 years.
The 54GWh Gigafactory in Imperial Valley to introduce new, ‘hyper-local,’ model for lithium-ion battery development
Statevolt’s proposed collaboration with CTR will introduce a new, ‘hyper-local,’ sustainable business model for lithium-ion battery development in the United States.
The agreement is one of the world’s first of its type, and it will see the company get its primary feedstock, lithium, and power from local resources in order to reduce environmental impact and develop a more sustainable and secure supply chain. Simultaneously, it will aid in the establishment of a micro-industry in the area, resulting in up to 2,500 direct jobs for Imperial Valley and the region as a whole.
The LOI between Statevolt and CTR is based on the two companies’ shared commitment to assisting with the energy transition in California and the United States. Global lithium demand for EVs and storage is expected to reach 383 killotones by 2030. Following the Biden Administration’s goal of having 50% of all automobile sales be EVs by 2030, rapid battery research and supply chain resilience are critical to meeting consumer demand in the near-to-medium term.