ST. LOUIS — McCarthy Building Cos. will construct a $400 million lithium iron phosphate (LFP) battery materials manufacturing plant for ICL (NYSE: ICL) in St. Louis. The facility is expected to be the first commercial-scale LFP battery materials manufacturing plant in the U.S., according to McCarthy. The 140,000-square-foot plant is expected to produce 30,000 metric tons for use in batteries that can store energy needed to run electric vehicles, charging stations or on the electric grid. ICL’s investment in the plant was augmented by a $197 million grant from the U.S. Department of Energy.
The new plant will be located on ICL’s existing Carondelet campus in St. Louis. In addition to creating 800 to 900 union construction jobs, the new facility is estimated to create 150 high-paying union and professional jobs for ICL. The plant is expected to be operational by 2025 and will help meet growing demand from the energy storage, electric vehicle and clean-energy industries for U.S.-produced-and-sourced essential battery materials.
ICL is a global specialty minerals company, creating solutions for sustainability challenges in the food, agriculture and industrial markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company employs more than 12,500 people worldwide, and its 2022 revenues totaled approximately $10 billion.