EnerSys Lands $150M DOE Grant for Lithium Cell Plant, Total Investment Hits $500M
ENS has more than doubled off its 52-week low of $88.76.
Summary
EnerSys secured a revised $150 million grant from the U.S. Energy Department for its lithium cell manufacturing facility in Greenville, SC. Combined with a $200 million state and local incentive package, total net investment reaches approximately $500 million. The plant will have an initial capacity of 1 GWh, focused on defense applications. This follows the July 23 8-K disclosing a 75% capacity cut and refocus of lithium plans—the grant and incentives now provide concrete funding and a path forward. Construction is slated to begin in the first half of fiscal 2028, signaling a multi-year buildout. The award strengthens EnerSys's position in the domestic defense supply chain and aligns with U.S. security priorities.
At the time of this announcement, ENS was trading at $200.61 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $7.3B. The 52-week trading range was $88.76 to $244.30. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.