Knowledge Fund Initiative Affiliated Company Awarded $58 Million



October 19, 2022


CARSON CITY, Nev. – When President Biden today announced that the American Battery Technology Company (ABTC) will receive $58 million as part of the Battery material Processing and Component Manufacturing Act, it was exactly what the Nevada Governor’s Office of Economic Development (GOED) envisioned when it conceptualized developing Applied Research Centers.

“I would like to congratulate both ABTC and the Nevada Center for Applied Research (NCAR) at the University of Nevada, Reno (UNR),” said Karsten Heise, GOED Senior Director of Strategic Programs and Innovation. “NCAR was created through the Knowledge Fund, and this is an excellent example of how this GOED devised concept has been successfully implemented at UNR yielding staggering returns. NCAR as an applied research and development technology center is providing research and innovation on demand services to Nevada industry through leveraging the physical and intellectual assets of UNR. The result is that the Federal Government today matched ABTC’s $58 million commitment so in reality this is a $116 million win for our state.”

This funding will also lead to the creation of 150 new skilled regional jobs through this partnership and develop the next generation of diverse scientist and engineers for this critical new industry in Nevada and the nation.



About the Governor’s Office of Economic Development

Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development.



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