CHICAGO - Century Aluminum Company (NASDAQ:CENX), a leading producer of primary aluminum, is set to negotiate a funding award of up to $500 million from the U.S. Department of Energy to construct a new aluminum smelter.
This funding, part of the Bipartisan Infrastructure Law and Inflation Reduction Act, is aimed at fostering commercial-scale decarbonization technologies within energy-intensive industries.
The Green Aluminum Smelter Project by Century is among 33 initiatives selected nationwide, reflecting a concerted effort to advance the U.S. toward net-zero emissions while bolstering the economy and job market.
Century's CEO, Jesse Gary, expressed pride in the DOE's decision, citing the project's alignment with stakeholder aspirations, including bolstering the domestic aluminum industry and fortifying national security.
The new smelter, which would be the first of its kind built in the U.S. in 45 years, is poised to double the nation's primary aluminum production capacity. It is anticipated to create over 1,000 full-time jobs and more than 5,500 construction jobs, with a focus on hiring and training local community members in collaboration with job training organizations and technical colleges.
The project underscores a strategic investment in domestic supply chains for materials critical to the green energy transition, such as those used in electric vehicles, renewable energy, and sustainable packaging.
The proposed smelter will be situated within the Ohio/Mississippi River Basins, although the exact location is yet to be announced. Century Aluminum, which also operates facilities in Iceland, the Netherlands, and Jamaica, is the largest U.S. producer of primary aluminum.
This announcement is based on a press release statement.
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