LG Energy Solution Michigan has unveiled a new facility in Holland Tuesday, marking a significant milestone by becoming the first plant in the United States to produce lithium iron phosphate (LFP) batteries at scale. This development is expected to transform energy storage solutions.
This marks a notable evolution since LG Energy Solution Michigan established its first gigawatt-sized battery plant in Holland in 2012.
"We have a solution where we can provide energy storage in any location where the energy is being produced and where it can be used in an efficient way to optimize the grid," said Bob Lee, President of North America for LG Energy Solution during a press conference.
The new plant is dedicated to the production of LFP batteries specifically for energy storage systems (ESS). It's average annual production capacity is 16.5GHw and will start producing ESS battery modules and containers in August.
"The $1.4 million investment in this facility is a great example of what we can do, making Michigan one of the top three states in the country for grid scale battery manufacturing," said Artealia Gilliard, Chief Communications Officer for American Clean Power.
She highlighted the economic impact, stating, "What we know about clean energy is that it's driving economic growth here in Holland, Michigan, but also in communities all across our country."
The facility is expected to create around 1,700 jobs, contributing significantly to the local economy.
Jaehong Park, President of LG Energy Solution Vertech, noted that the facility could generate approximately $2.5 billion annually.
Tristan Doherty, LG Energy Solution Vertech's Chief Product Officer, forecasts further economic growth driven by this facility, with "several other billions of dollars" expected in the coming years.
As the company responds to the evolving market, Park said, "We are very well prepared to more than double up our current capacity, ready to ramp up sometime soon as we see the market demand growth quite significantly."
LG Energy Solution currently owns four battery-manufacturing facilities in United States, with three in Michigan. Two are in Holland, one is in Lansing, and the fourth is based out of Queen Creek, Arizona.
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