Japanese firm shifts copper foil plans from SC to Georgia

Jul 20, 2022, 9:48 AM | Updated: 11:51 am

AUGUSTA, Ga. (AP) — A Japanese company announced plans Wednesday for a $150 million plant to make copper foil for electric vehicle batteries in Augusta, Georgia, instead of at its previously announced location near an existing Camden, South Carolina, facility.

Nippon Denkai’s American subsidiary said it would hire more than 100 people and could eventually triple production at the Georgia site from an initial 9,500 metric tons (10,500 tons) to 28,500 metric tons (31,500 tons). That would raise investment to $430 million and create 250 jobs over the next five years.

“Our goal is to triple the capacity in Augusta; market conditions will determine timeline,” said Denkai America spokesperson Michael Coll.

The company said it would raise its initial investment by $10 million from what it had announced in December. It told Japanese investors that the 115-acre (47-hectare) Augusta site is better than the South Carolina location because there is room for expansion, because it can host an “advanced” equipment layout and because of a “key cost competitive edge in electricity price.”

State and local officials will give the company what could be more than $76 million in tax breaks and incentives.

Nippon Denkai said it will start construction in September and hopes to be shipping samples to manufacturers by the summer of 2024.

The company said it sees a big opportunity to make copper foil for electric vehicle battery makers, saying many battery plants are being built in the United States, but few copper foil plants are. Nippon Denkai said that companies will want domestic sources to avoid supply chain problems including risks of politically driven supply disruptions. The company projects an annual 21.4% growth in copper foil demand through 2035.

Nippon Denkai said the ability to triple production in Augusta will allow it to pursue that growth. Combined with the 30-year-old Camden plant, the company would have an American production capacity of more than 35,000 metric tons.

In June, Denkai announced a smaller $14 million expansion at the 80-worker Camden plant, also related to expansion in the electric battery and vehicle market.

Augusta-Richmond County will give property tax breaks valued at a projected $68.7 million over 25 years, although the company will pay $30 million in taxes, according to the Augusta Economic Development Authority. The company gets free land valued at $2.25 million, said Cal Wray, the authority’s president. Georgia officials said they will spend an undisclosed amount of money to train workers. Nippon Denkai could claim various state tax breaks, including an income tax credit allowing it to annually deduct $4,000 per job from state income taxes, up to $5 million over five years, as long as workers make at least $28,000 a year.

Georgia Economic Development Commissioner Pat Wilson pointed to the announcement as more fruit of the state’s focus on what he calls a “generational opportunity” in electric vehicles, including the $5 billion Rivian Automotive plant east of Atlanta and the $5.5 billion Hyundai Motor Group plant near Savannah.

Wray said a $347 million, 125-job copper smelter announced by Aurubis AG in Augusta is another development driven by the growth in electric vehicles.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Associated Press

Sweden presents plan to tackle high winter power bills

STOCKHOLM (AP) — Sweden’s government said Wednesday it wants to pass legislation forcing the country’s public power transmission network operator to help alleviate this winter’s expected high electricity bills for Swedish households and businesses. Prime Minister Magdalena Andersson, whose Social Democratic minority government faces parliamentary elections next month, said the proposal would cost Svenska kraftnat […]
9 hours ago
FILE - A Centers for Disease Control and Prevention sign stands at the entrance of their offices in...
Associated Press

CDC director announces organization shake-up aimed at speed

NEW YORK (AP) — The head of nation’s top public health agency on Wednesday announced a shake-up of the organization, intended to make it more nimble. The planned changes at the Centers for Disease Control and Prevention — CDC leaders call it a “reset”– come amid ongoing criticism of the agency’s response to COVID-19, monkeypox […]
9 hours ago
FILE - Lebanese Journalist Dima Sadek uses her cellphone to make a video of an anti-government prot...
Associated Press

Attack on Rushdie shows divisions among Lebanese Shiites

BEIRUT (AP) — The stabbing of author Salman Rushdie has laid bare divisions in Lebanon’s Shiite Muslim community, pitching a few denouncing the violence against fervent followers of the Iran-backed Shiite militant Hezbollah group who have praised the attack. One Rushdie defender received death threats. The attack struck close to home among Lebanon’s Shiites. The […]
9 hours ago
File - Treasury Secretary Janet Yellen speaks about the economy during a news conference at the T...
Associated Press

Yellen tells IRS to develop modernization plan in 6 months

WASHINGTON (AP) — Now that President Joe Biden signed Democrats’ expansive climate, tax and health care bill into law, Treasury Secretary Janet Yellen has directed the IRS to develop a plan within six months outlining how the tax agency will overhaul its technology, customer service and hiring processes. In part, the improvements are meant to […]
9 hours ago
University of Miami's Rosenstiel School of Marine & Atmospheric Science student diver prepares to g...
Associated Press

Scientists seek to develop hybrid coral reef off of Miami

MIAMI (AP) — Scientists and students from the University of Miami dove into the dark waters a few miles off the shores of Miami this week as part of an effort to develop hybrid reefs. The team from the Rosenstiel School of Marine, Atmospheric, and Earth Science was on a mission to collect eggs and […]
9 hours ago
Associated Press

‘River Dave,’ banned from New Hampshire site, moves to Maine

CONCORD, N.H. (AP) — A hermit known as River Dave — whose cabin in the New Hampshire woods burned down after he had spent nearly three decades on the property and was ordered to leave — has found a new home in Maine. David Lidstone, 82, has put in windows and is working on installing […]
9 hours ago

Sponsored Articles

...
Day & Night Air Conditioning, Heating and Plumbing

Ways to prevent clogged drains and what to do if you’re too late

While there are a variety of ways to prevent clogged drains, it's equally as important to know what to do when you're already too late.
...
Sanderson Ford

Don’t let rising fuel prices stop you from traveling Arizona this summer

There's no better time to get out on the open road and see what the beautiful state of Arizona has to offer. But if the cost of gas is putting a cloud over your summer vacation plans, let Sanderson Ford help with their wide-range selection of electric vehicles.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Update your child’s vaccines before kindergarten

So, your little one starts kindergarten soon. How exciting! You still have a few months before the school year starts, so now’s the time to make sure students-to-be have the vaccines needed to stay safe as they head into a new chapter of life.
Japanese firm shifts copper foil plans from SC to Georgia