Source:  PRESS RELEASE, 6/9/11

U.S. Senator Kay R. Hagan (N.C.) today testified about her bill to create domestic energy jobs. Hagan introduced the Powering America's Lithium Production Act in February to encourage research and development in next-generation lithium products. Hagan testified before the Senate Energy & Natural Resources Subcommittee on Energy, which considered Hagan's bill as part of a hearing on critical minerals legislation.

"The strength of the American economy depends on investment in clean energy technology that reduces our dependence on foreign oil -- and creates jobs," said Hagan. "The Powering America's Lithium Production Act means U.S. manufacturers will have the ability to meet increasing demand for energy-efficient lithium products. With gas prices sky high, we must support innovative energy research and development."

Lithium is the material of choice for rechargeable batteries and is a crucial component of clean energy products, such as the electric vehicles and smart grid technologies. As demand for electric vehicles continues to grow, it is conservatively estimated that global lithium demand will grow by 20 percent annually through the end of the decade.

However, battery-grade lithium metal for the most advanced batteries is supplied almost exclusively from foreign sources, including China. Today, there are only three global manufacturers capable of producing the material necessary to power advanced lithium batteries, including FMC Corporation and Chemetall, which are headquartered in North Carolina. Hagan's legislation would encourage these companies to conduct research and development that would bring advanced lithium production to the United States.

Earlier this year, Hagan cosponsored the bipartisan Critical Minerals Policy Act, which establishes a roadmap to protect and invest in our country's critical minerals supply. This legislation includes Hagan's Powering America's Lithium Production Act. As Chair of the Senate Armed Services Emerging Threats and Capabilities Subcommittee, Hagan is acutely aware of the essential role these materials play in our national security and our ability to equip U.S. servicemembers on the battlefield.