Natron Energy, Inc., the only commercial manufacturer of sodium-ion batteries in the U.S., has announced it will invest $1.4 billion to establish a sodium-ion battery giga-factory at the Kingsboro CSX Select Megasite in Edgecombe County, North Carolina, creating more than 1,000 jobs. The new facility will add to the company’s Michigan-based production capabilities. Natron will receive close to $30 million from the North Carolina Megasite Readiness Program for onsite preparation of the Kingsboro Megasite.
“In recent years, North Carolina has had considerable success in attracting large economic development projects, and the Economic Development Partnership of North Carolina (EDPNC) was tasked to oversee the Megasite Readiness Program to better prepare our state to welcome more of that success,” said Christopher Chung, CEO of the EDPNC. “With the fund, the state can support the recruitment of large announcements like Natron, which will significantly positively impact Edgecombe County. We look forward to welcoming more projects to our current and future megasites.”
In the 2022 legislative session, the North Carolina General Assembly tasked the EDPNC with overseeing the Megasite Readiness Program, providing $1 million to identify and evaluate sites for preferred development and marketing. The General Assembly later amended the Megasite Readiness Program to include more opportunities for grant funding, appropriating $10 million for use in the 2023-24 fiscal year and $97.8 million for use in the 2024-25 fiscal year. Natron is the first recipient of Megasite Readiness Program funds, which are subject to final approval from the EDPNC’s Board of Directors.
The Kingsboro CSX Select Megasite is a 2,187 acre, shovel ready site located just outside of Rocky Mount in Edgecombe County. It is one of six megasites or sites that have 1,000 or more acres of contiguous land, across North Carolina.
In addition to overseeing and administering Megasite Readiness Program funds, the EDPNC partnered with the North Carolina Department of Commerce on this project, offering support during the company’s decision-making process, as well as guiding the company through incentives.
Natron was founded in California in 2012 with the goal of producing ultra-safe and high-powered batteries. In 2020, the company’s sodium-ion battery became the first in the world to receive a UL 1973 listing, allowing the battery to enter the data center, forklift, and electric vehicle (EV) fast-charging markets. This year, Natron opened its Holland, Michigan, production facility, which became the first sodium-ion battery production facility in North America. Natron’s new giga-factory at the Kingsboro Megasite is another first of its kind, becoming the first sodium-ion giga-factory in the company’s history and in the U.S. The factory will enable Natron to extend its customer base beyond the EV industry.
Although wages will vary depending on the position, the average salary for Natron’s new positions will be $64,071, exceeding Edgecombe County’s average wage of $43,183. These positions will have an annual payroll impact of close to $77 million.
The Economic Development Partnership of North Carolina would like to recognize the North Carolina Department of Commerce as well as other key partners involved in this project, including the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Departments of Transportation and Environmental Quality, N.C. Commerce’s Division of Workforce Solutions, CSX, the North Carolina Railroad Company, Dominion Energy, Piedmont Natural Gas, Edgecombe Community College, Edgecombe County, and the Carolinas Gateway Partnership.