Natron Energy, a commercial manufacturer of sodium-ion batteries in the U.S., will invest $1.4 billion to establish a sodium-ion battery giga-factory at the Kingsboro CSX Select Megasite in Edgecombe County, NC, creating more than 1,000 jobs. The new facility will add to the company’s Michigan-based production capabilities. Natron said it 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,” Christopher Chung, CEO of the EDPNC, said. “With the fund, the state can support the recruitment of large announcements like Natron, which will 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, EDPNC said. Natron is the first recipient of Megasite Readiness Program funds, which are subject to final approval from the EDPNC’s board of directors.

In addition to overseeing and administering Megasite Readiness Program funds, the EDPNC said it 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.

Earlier this year, Natron said it opened its Holland, MI, production facility. Natron said the new giga-factory at the Kingsboro Megasite is the first sodium-ion giga-factory in the company’s history. The factory will enable Natron to extend its customer base beyond the EV industry, it said.