DOE cancels $700 million in battery and manufacturing project grants

The Department of Energy (DOE) has canceled approximately $700 million in grant funding previously allocated to various battery and manufacturing projects. These grants were intended to support the development of advanced domestic energy storage technologies and industrial manufacturing capabilities. According to a DOE spokesperson, the primary reason for the withdrawal was that the recipient projects had failed to meet established performance milestones. The spokesperson further justified the cancellation by stating that continued investment in these particular initiatives would not yield a positive return for taxpayer dollars, necessitating the reclamation of the funds.