Beverly Technology Company Awarded $2.15 Million Federal Grant

BEVERLY, MA — A Beverly company will put more than $2 million of federal infrastructure funds to use refining metal and electronic waste into cleaner and more efficient production of lithium-ion batteries through a process called electro-extraction.

U.S. Rep. Seth Moulton (D-Salem) visited Nth Cycle last week to announce the grant that the company said will help allow it to produce the battery power necessary amid state and federal mandates for carbon neutrality and the moving away from fossil fuels.

"Recent legislation mandates the deployment of a compliant supply of critical minerals like nickel and cobalt that are mined, refined or recycled locally," Nth Cycle co-founder and CEO Megan O'Connor said. "Unfortunately, there's not enough compliant supply today to meet America's increasing demand for electrification.

"We expect Nth Cycle's electro-extraction technology to be a pivotal solution in closing the resulting gap between supply and demand for domestic critical materials through cost-effective, efficient and environmentally-conscious refining at home."

Moulton visited Nth Cycle's Beverly headquarters during a North Shore tour last week that also included a stop at the site of the Hall-Whitaker Bridge to talk with Beverly Mayor Mike Cahill able the extended time forecast to replace the closed drawbridge and repair and replace the nearby Kernwood Bridge.

"The Sixth District is home to some of the world's most cutting-edge companies whose work today is preparing us for the future," Moulton said. "Nth Cycle is one of those companies. Producing batteries in a cleaner and more sustainable way is increasingly important for the environment, the economy, and for America's supply chain security.

"It was fascinating to see the facility in Beverly, and I am thrilled that Nth cycle has received a $2.15 million grant as part of the Bipartisan Infrastructure Law to accelerate this work.

"Now more than ever, we need more companies who are willing to turn convention on its head to solve problems. This is how we'll transform our economy and protect our planet."

(Scott Souza is a Patch field editor covering Beverly, Danvers, Marblehead, Peabody, Salem and Swampscott. He can be reached at [email protected]. Twitter: @Scott_Souza.)